Categories: Emerging MarketsInternational Investing

Emerging Stocks Advance for First Time in 2014 on Economy

Emerging Stocks Advance for First Time in 2014 on Economy (Bloomberg)

Emerging-market stocks rose for the first time this year after the International Monetary Fund announced today that it will boost its forecast for world economic growth. The MSCI Emerging Markets Index added 0.1 percent to 972.38 at 12:32 p.m. in New York, snapping a five-day decline. Egypt’s EGX 30 Index rallied to a three-year high as EFG-Hermes Holding SAE, the nation’s largest investment bank, surged. However, the Borsa Istanbul 100 Index fell 1.9 percent after JPMorgan Chase & Co. cut its recommendation for Turkish shares. South Africa’s rand led losses among developing-nation currencies.

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Paul Dykewicz

Paul Dykewicz is the editor of StockInvestor.com and the editorial director of Eagle Financial Publications in Washington, D.C. He writes and edits for the website, as well as edits investment newsletters, time-sensitive trading alerts and other reports published by Eagle. He also is an accomplished, award-winning journalist who has written for Dow Jones, USA Today and other publications, as well as served as business editor of a daily newspaper in Baltimore. In addition, Paul is the author of the inspirational book, "Holy Smokes! Golden Guidance from Notre Dame's Championship Chaplain." He received his MBA in finance from Johns Hopkins University, where he was a two-time president of the school's Finance Club. In addition, Paul has a bachelor's degree from the University of Michigan and a master's degree in journalism from Michigan State University. Outside of work, Paul volunteers with a faith-based organization to assist the poor in Southeast Washington, D.C., to learn personal finance skills to lift themselves out of debt.