EMERGING MARKETS-Latin American stocks rise after Bernanke
* Latin American index gains 1.6 percent
* Brazil's Vale up on news of copper mine construction
* Mexico's IPC up 1.1 pct, Brazil's Bovespa climbs 1.6 pct
MEXICO CITY/SAO PAULO, Aug 27 (Reuters) - Latin American stocks rose on Friday after Federal Reserve Chairman Ben Bernanke said the Fed was ready to take further steps to help the recovery.
The MSCI Latin American stocks index .MILA00000PUS rose 1.6 percent to 3,951.
Bernanke said the U.S. economic recovery has weakened more than expected but that the Fed is ready to take further steps if needed to spur slowing growth. The United States is an important trading partner for the region.
"Bernanke's comments gave the market a reason to recover," said Carlos Gonzalez, a financial analyst at Ixe in Mexico City.
Brazil's benchmark Bovespa index .BVSP rose 1.56 percent, led by gains in mining company Vale.
African Rainbow Minerals (ARM) said on Friday that the construction of a new copper mine in Zambia, which it is developing with Vale (VALE5.SA), has begun in August, with full output eyed in 2015. For details, see [ID:nLDE67Q1GI]
Preferred shares of oil giant Petrobras (PETR4.SA), the company's most widely traded class of stock, rose 1.7 percent.
Also helping shares across the region, a private survey of U.S. consumer sentiment showed improvement from a month ago in the face of dismal labor and housing conditions.
"When we finally see a positive piece of consumer data it gives the hope that the situation in the United States isn't so bad," said Jaime Aguilera, an equity strategist at HSBC in Mexico City.
Mexico's IPC index .MXX climbed 1.06 percent.
Grupo Carso (GCARSOA1.MX), the conglomerate controlled by billionaire Carlos Slim, climbed 3.6 percent. The company announced a plan on Wednesday to spin off real estate and mining units, boosting shares, analysts said.
Shares in TV Azteca TVAZTCACPO.MX, Mexico's No. 2 broadcaster, rose 7.9 percent.
In Chile, the blue-chip IPSA index .IPSA inched down 0.06 percent as shares for retail giant Cencosud CEN.SN lost 1.35 percent. (Reporting Caroline Stauffer in Mexico City and Luciana Lopez in Sao Paulo; Editing by Diane Craft)
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