18.11.201421:54:27UTC+00Emerging stocks rise on Russia, Brazil advance, offset China drop

Emerging-market stocks end a three-day losing streak after Russian stocks rise on strong ruble and Brazilian stocks climb on lender advance offsetting a drop in China.

The MSCI Emerging Markets Index added 0.3% to 988.66.

Russian stocks advanced with the Micex Index rallying to its highest level since October of 2013 as the ruble strengthened by 0.4% due to a looming tax deadline that spurred several foreign exporters to sell foreign currency.

The European Union met up yesterday and stopped before stiffer economic sanctions versus Russian companies be agreed upon.

Analysts at Commerzbank commented to Bloomberg that Russia and Ukraine are still the main focus with hopes that tensions will calm down.

Brazilian stocks rallied with the Ibovespa breaking a three-day losing streak after Banco Bradesco headed lender advance amid low valuations.

The Ibovespa rose by 1.6% to 52,061.86 at the end of trade in Sao Paulo with the nation’s currency strengthening by 1% to match the dollar at 2.5828 real per dollar. The gauge was recently at it year high last September but has since then shed a total of 16%.

Yesterday, Chinese stocks fell as the benchmark index enters its fourth consecutive day of decline as home prices dropped amid the trading link concerns. New home prices in every government monitored city except for one amid the developer offered discounts to cut inventories.