* U.S. employment rises more than expected in April
* Commodities producers drive gains
* Brazil Bovespa rises 0.3 pct, Mexico IPC up 1.22 pct
By Asher Levine and Jean Arce
SAO PAULO/MEXICO CITY, May 3 Latin American
stocks rose on Friday as stronger-than-expected U.S. employment
data improved the outlook for global economic growth and boosted
Brazil's benchmark Bovespa index enjoyed the most modest
gains, rising 0.30 percent to 55,488.08 points, while Mexico's
IPC index posted its biggest one-day rise since early
April. Chile's IPSA added 0.75 percent.
Shares gained after data on Friday showed U.S. employment
rose more than forecast in April, with the jobless rate in the
world's largest economy falling to a four-year low of 7.5
"All the data have been miserable since March and they will
probably be lousy in May and June as well," said Jorge Gordillo,
an analyst at CI Banco in Mexico City. "But the most important,
at least for the market, are the employment figures and
they had a calming effect."
Brazil's Bovespa ended the week 2.28 percent in the red,
while the IPC added 1.68 percent.
Commodities stocks contributed most to the Bovespa's gains
on Friday, with shares of iron-ore mining giant Vale SA
up 1.42 percent.
Local stocks with high liquidity, such as Vale, tend to
attract foreign investors looking for exposure to Latin American
equities, with their performance often tracking the outlook for
global economic growth.
The shares of Cielo SA, Brazil's largest card
payment processor, edged 0.2 percent lower. While the company's
first quarter profits beat estimates on Thursday, at least five
investment banks and brokerages trimmed their price targets on
the shares, citing poor operating trends.
Mexico's IPC index rose its most since early April,
adding 1.22 percent to 42,602.07 and breaking technical
resistance at its 200-day simple moving average.
The shares of mining firm Grupo Mexico rose
2.25 percent, while telecommunications firm America Movil
, controlled by billionaire Carlos Slim, added 2.32
Chile's IPSA index advanced for the third straight
day, adding 0.75 percent to 4,341.61 as shares of retailer
Falabella rose 1.65 percent. It ended the week 1.41
Latin America's key stock indexes at 2055 GMT:
Stock indexes % change
MSCI LatAm 3,764.74 0.77
Brazil Bovespa 55,488.08 0.3
Mexico IPC 42,602.07 1.22
Chile IPSA 4,341.61 0.75
Chile IGPA 21,293.30 0.62
Argentina MerVal 3,888.10 1.16
Colombia IGBC 13,490.74 0.57
Peru IGRA 17,652.27 1.17
Venezuela IBC 677,823.88 0.41