Emerging market stocks set for their biggest weekly gain in nearly six years as imminent US-Iran ceasefire talks boost risk appetite

Golden Ten Data, April 10 – As the US and Iran hold ceasefire talks in Pakistan this weekend, the market is hoping for a further easing of Middle East tensions based on the fragile ceasefire. On Friday, the MSCI Emerging Markets Index rose 0.9%, with its weekly gain set to mark the biggest since June 2020. A comparable indicator tracking emerging-market currencies climbed 0.1%, its largest weekly advance since May last year. Oil prices gave up part of their gains ahead of the ceasefire negotiations between the US and Iran. Rajeev De Mello, Global Macro Portfolio Manager at Gama Asset Management SA, said: "The easing of Middle East tensions is prompting investors to increase their allocation to emerging markets."