Emerging market stocks rose for a third consecutive day on Thursday, sending the benchmark MSCI EM index to a three week high.
The rise was a result of easing concern of a Greek default – following prime minister George Papandreou winning a second parliamentary vote. Read more
Photo: Judyta Papp
The supervisory board of KGHM Polska Miedz SA, the Polish copper producer, approved the sale of its stake in Polkomtel SA on Thusday.
Jacek Kucinski, head of the board, told Bloomberg it had agreed to sell the company’s stake in Poland’s second largest mobile phone operator to billionaire Zygmunt Solorz-Zak. Read more
India’s cabinet have granted conditional approval to Vedanta Resources to buy British oil explorer Cairn Energy’s Indian assets, Indian minister Krishna Tirath has said.
The approval, granted on Thursday and reported by Reuters, is one of the largest in India’s energy sector. Vedanta Resources shares have since risen 2 per cent. Read more
Poland is in a good place: it is taking over the presidency of the European Union, it has the fastest-growing large economy in the union, and the Euro 2012 football championship is coming.
No wonder, prime minister Donald Tusk, who faces elections this autumn, is popular. But, with inflation high, the global economy uncertain, local politics turbulent, Tusk can’t afford to celebrate quite yet, according to an FT special report. Read more
The impressive scale of AK party’s re-election victory reflects the achievements of Tayip Erdogan’s regime in bringing political and financial stability to Turkey.
Now is time for the government to turn its attention to more pressing issues, according to Tuesday’s FT special report on Turkey. Read more
Cosmetics company L’Occitane has been an EM fan for a while. Choosing to IPO in Hong Kong rather than Paris (and being the first French company to do so) was a clear sign.
The EM drive is paying off. L’Occitane attributed Monday’s impressive annual results largely to the company’s presence in the developing world. Read more
Infosys and Tata have topped an index of corporate ‘Thought Leaders’ in India – defined as companies that change attitudes of customers, employees and stakeholders.
Apple, which headed similar UK & US lists, was the notable omission from India’s top 20, but Google, Nokia and Japan’s Suzuki made the grade. Read more
The start of the week will be dominated by the outcome of the MSCI Annual Market Classification Review. There are four country indices on the review list: Korea and Taiwan for potential reclassification to developed markets and Qatar and United Arab Emirates for potential reclassification to emerging markets.
The focus at the end of the week will centre on the European visit of Chinese prime minister, Wen Jiabao. He is scheduled to visit Hungary, Britain and Germany. Markets will be watching closely for how Wen handles economic expectations. Read more