EMERGING MARKETS-Commodity rally lifts emerging stocks to 3-week high [Reuters]
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Source: Reuters
EMERGING MARKETS-Commodity rally lifts emerging stocks to 3-week high | Reuters 6 Min Read LONDON, April 19 (Reuters) - A commodities rally helped lift emerging market stocks to a three-week peak on Thursday after Saudi Arabia was reported to be seeking oil prices as high as $100 a barrel, but Turkey’s lira slipped after stellar gains in the previous session. MSCI’s benchmark emerging equities index rose 0.8 percent, extending gains into a third day, led by resources firms after the broad Commodity Research Bureau (CRB) index of commodity prices touched its highest level since July 2015. Wednesday’s 1.8 percent rise was the biggest one-day jump in the CRB in eight months. Aluminium prices are up 30 percent so far in April and nickel has jumped 20 percent this week alone. However, some of those gains in aluminium prices were due to a supply squeeze after U.S. sanctions on major Russian producer Rusal, with similar worries also spurring nickel. Oil prices rose 1.2 percent to over $74 a
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