Among European stocks, Lonmin Plc sank 6.5% as the world’s third-largest platinum producer halted operations at its Marikana mine in South Africa after workers refused to go underground. Jeronimo Martins SGPS SA slid 5.5% after Asteck SA sold half its 10% stake in Portugal’s biggest retailer.
Severn Trent Plc, the U.K.’s second-largest publicly traded water company, jumped 13% to a record after receiving an approach from a group comprised of Borealis Infrastructure Management Inc., the Kuwait Investment Office and Universities Superannuation Scheme.
The MSCI Emerging Markets Index snapped a three-day slump, rising 0.2% as a stronger yen boosted exporters. Benchmark gauges in South Korea, the Philippines, Poland and Turkey added at least 0.7%, and India’s Sensex rebounded from its biggest drop in a year.
The Hang Seng China Enterprises Index of mainland companies listed in Hong Kong slid 0.7%, extending a 2.1% decline yesterday when reports showed industrial production missed estimates and fixed-asset investment unexpectedly slowed last month.
“The April data suggests that domestic demand remains on the weak side, and by extension has also caused the softening in the service sector,” JPMorgan wrote in the report, cutting its growth estimate for China.
Copper for three-month delivery slid 2.2% to $7,250 a metric ton on the London Metal Exchange, falling for the first time in three days and leading losses in commodities. West Texas Intermediate crude slipped 0.3% to $94.89 a barrel even as the International Energy Agency increased its forecast for global oil demand in 2013 for the first time since January.
The yen climbed against all but two of its 16 major peers and the euro was little changed at $1.2977.
Sweden’s krona sank after a report showed consumer prices declined more than most economists predicted in April. The currency dropped 0.4% to 8.61698 per euro.
Spain’s 10-year bond yield was little changed at 4.28%. The nation sold one-year bills to yield less than 1% for the first time since April 2010. The rate on Italy’s 10-year note fell three basis points to 3.95%.
The Netherlands sold five-year notes at a record-low yield of 0.611%.
Australia’s dollar fell to an 11-month low as the government’s forecast of slower growth fanned speculation the Reserve Bank will cut borrowing costs to support the economy. The Aussie weakened 0.3% to 99.19 U.S. cents.