May 3, 2013 / 9:55 PM / in 5 years

EMERGING MARKETS-Latin American stocks spike on U.S. jobs data

* 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 (Reuters) - Latin American
stocks rose on Friday as stronger-than-expected U.S. employment
data improved the outlook for global economic growth and boosted
commodities shares.
    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
percent up. 
    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
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