Latam stocks gain on bargain hunting, US data


27/05/2012 12:33 AST  Reuters

Latin American stocks advanced on Friday supported by a rise in consumer sentiment in the United States and a fresh round of bargain hunting by investors searching for cheap shares.

The MSCI Latin American stock index gained for a second day, up 1.31 percent to 3,397 points with volume lower ahead of a holiday on Monday in the United States.

The index is on track to increase slightly this week after a nine-week losing streak on Europe's debt crisis pushed Latin American stocks to their worst levels since October on Wednesday.

Lifting shares on Friday, U.S. consumer sentiment hit its highest in four years during May as Americans stayed upbeat about the labor market, a Thomson Reuters/University of Michigan survey showed.

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