| Best quarter for emerging market funds Emerging market equity funds had their best quarter as investors switched to riskier assets on rising hopes that the world economy is stabilising  Overview: US jobs data lead equities lower Global markets began the second half of the year nervously after signs that the economic recovery, which many were predicting to be around the corner, may yet be some way off Overview: US jobs data sideline risky investments Investors recoiled from more daring assets after a sharp drop in US employment set back hopes for a quick revival of the world's largest economy China eyes $5bn railway IPO The Chinese government has hired two foreign banks to arrange the public listing of a railway holding company in an IPO that could be worth as much as $5 billion Overview: Upbeat data fuel risk appetite Global risk appetite gathered steam as the second half of the trading year began and investors digested manufacturing reports from the major economies Overview: Strong quarter for equities ends on dull note Disappointing US consumer confidence data offer a timely reminder of the headwinds facing the global economy View of the Day: Oil and emerging markets Oil's recent rise won't foster the return of petrodollar recycling that boosted emerging market assets in the past, says David Lubin at Citigroup Prospect of El Niño blows crop prices higher The climatic event – caused by a rise in the tropical Pacific water temperature – has triggered gyrations of food prices VisaNet demand lifts hopes for IPOs Strong demand for the biggest IPO of the year shows that investors in Brazil have not lost their appetite for new stocks Emaar shares drop on merger talks Shares in the Middle East's largest real estate company have fallen sharply as investors take stock of advanced talks to merge it with three developers owned by the emirate's ruler Russia: the weakest Bric Russian companies are starved of credit; foreign inflows have dried up, and domestic banks' rising bad loans make them reluctant to lend China poses questions for Bric economies The country's strong equities showing contrasts with that of the other big emerging markets Governor's vow sparks Nigeria sell-off A pledge by the new central bank governor to take tough action to clean up the financial sector has triggered a sharp sell-off on the Lagos stock market Emerging market hedge funds surge Hedge funds investing in emerging markets have bounced back after one of their worst years during 2008 to rank among the best performers this year to date Fed signals rates to remain low for some time US central bank leaves interest rates unchanged as record amounts of funds are lent to eurozone banks and the Swiss National Bank moves to weaken the franc News Wizard |