An index of U.S.-traded companies based in Latin America rose on Thursday, with Argentine stocks pulling off the biggest gains, as U.S. markets got a boost from a stream of economic data that suggest the U.S. economy may be in better shape in than expected.
The Bank of New York Latin America ADR Index gained 10.55 points, or 2.2 percent, to 490.08. The index includes companies traded in Chile, Brazil, Mexico and elsewhere.
U.S. markets ticked higher Thursday after oil prices eased slightly on the New York Mercantile Exchange. Light, sweet crude for June delivery fell 10 cents to settle at $124.12 a barrel on the Nymex.
Meanwhile, the Labor Department said the number of unemployment claims rose last week by 6,000 to 371,000, in line with analyst forecasts.
And the Philadelphia Federal Reserve said regional manufacturing activity in declining in May at a slower pace than in April.
Argentina-based telecommunications company Nortel Inversora SA added 80 cents, or 5 percent, erasing a steep drop to a fresh 52-week low of $14.31 earlier in the session.
Argentine bank Grupo Financiero Galicia SA jumped 33 cents, or 6.2 percent, to $5.66.
BBVA Banco Frances SA climbed 38 cents, or 6.6 percent, to $6.17.
Among the decliners, Brazil's petroleum distributor Ultrapar Holdings Inc. lost 88 cents, or 2.2 percent, to $38.80.
Argentine natural-gas transporter MetroGAS SA fell 6 cents to $3.11.
And Chile's Coca-Cola distributor, Embotelladora Andina SA, shed 31 cents to $17.40.
The Bank of New York Composite ADR Index rose 3.18 points, or 1.7 percent, to 186.71.
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