Group of 20 Finance Ministers

The SPDR S&P Emerging Europe fund (GUR) closed up more than 5% Wednesday and could see increased attention as the Group of 20 leadership talks continue in London. So far, preliminary reports were renewing hope for a global economic recovery that would stretch to emerging economies.

A British official said the Group of 20 would likely approve giving more than $500 billion to the IMF so it can increase its loans to governments struggling because of the financial crisis, the AP reported. The official spoke on condition of anonymity because talks were ongoing.

Two other people close to the negotiations said France and Germany had persuaded the Group of 20 leaders to back tougher language in the final statement on stronger financial regulations to avoid a repeat of the current crisis, the article said.

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