Emerging stocks decline

28/05/2015 01:16 AST

Emerging-market stocks fell to a seven-week low as speculation that the US is close to raising interest rates spurred capital outflows. Russia's ruble weakened below its moving average of the past 200 days.

The MSCI Emerging Markets Index lost 0.9 per cent to 1,016.88 at 12:55pm in London, its third day of declines, as all the 10 industry subgroups fell. Better-than-expected US capital-equipment orders, new-home sales and regional manufacturing on Tuesday bolstered prospects for a tighter monetary policy, with the Federal Reserve emphasizing that any rate increases will be driven by data.

The developing-nation index has gained 6.4 per cent this year and trades at 12.1 times projected 12-month earnings, data compiled by Bloomberg show. The MSCI World Index of advanced- nation equities has risen 4.2 per cent in 2015 and is valued at a multiple of 16.7.

Swiss authorities, acting at the behest of the US Department of Justice, arrested officials of the soccer governing body FIFA as part of a criminal probe into the controversial 2010 vote that delivered the next two World Cups to Russia and Qatar.


Bloomberg

Most Viewed Companies

Ticker Price Volume
SABIC 114.77 5,915,941
SAMBA 26.98 1,138,683
DARALARKAN 13.47 74,648,349

Global Major Indices

Index Closing Change
NIKKEI 225 21,292.29 -96.29 (-0.45%)
DAX 12,002.45 -94.28 (-0.77%)
S&P 500 2,614.45 32.57 (1.26%)

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