Global stocks rose, sending S&P 500 toward record close

Europe Shares

The Stoxx Europe 600 Index rose 0.9 percent as all 19 industry groups advanced. The gauge has fallen 2 percent this month, heading for its biggest decline since June.

Trading volume was 15 percent greater than the 30-day average today, according to data compiled by Bloomberg.

The MSCI Emerging Markets Index gained for a fourth day, the longest winning streak since October, adding 1.2 percent. Benchmark gauges in Hong Kong, South Korea, Poland and Turkey climbed at least 1 percent. India’s S&P BSE Sensex rose 0.2 percent, sending the benchmark index to a record after the rupee climbed to an eight-month high

Russia’s Micex Index added 1.9 percent. The gauge has tumbled 6.5 percent this month as President Vladimir Putin took control of Ukraine’s Crimea and incorporated the Black Sea region into its former homeland.

Ukraine Aid

The yield on Ukraine’s dollar bonds due in April 2023 fell 14 basis points to 9.46 percent, the lowest level this month. Ukraine will receive an assessment today from the International Monetary Fund on the country’s bailout request. The country is seeking a loan of $15 billion to $20 billion, Finance Minister Oleksandr Shlapak said yesterday.

West Texas Intermediate crude rose 0.6 percent to $99.78 a barrel, ahead of an industry report that may show crude stockpiles climbed in the U.S., the world’s biggest consumer.

Australia’s dollar strengthened after Stevens said the economy may strengthen this year and there were encouraging signs domestic consumption was increasing. In previous comments he has said the Aussie is too strong given economic fundamentals.

The euro declined 0.2 percent to $1.3796 after sliding to $1.3749 on March 20, the lowest level since March 6. The shared currency weakened 0.1 percent to 141.24 yen. The yen lost 0.1 percent to 102.38 per dollar. The franc dropped for a third day against the euro, weakening 0.1 percent to 1.2216. 

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