Data on Friday showed US employment grew faster than expected in November, though hiring continues to be held back by fears the government may fail to prevent the so-called "fiscal cliff" of automatic tax hikes and spending cuts, set to begin at the start of next year. "This data is a sign that the recovery of the US economy is back on track, right back on track," said Christian Klemt, an analyst with Solidus brokerage in Porto Alegre.
Raw materials exporters also received a boost after sources said China's leaders are likely to maintain a 7.5 percent economic growth target in 2013. Brazil's benchmark Bovespa stock index gained 1.44 percent to 58,487.32, closing the session with a 1.8 percent weekly gain. Shares of iron-ore mining giant Vale SA rose 0.9 percent, while state-controlled oil company Petrobras climbed 2.03 percent, contributing most to the index's gains.
Mexico's IPC index rose 0.49 percent to 42,797.67, ending the week up 2.31 percent. Mining firm Grupo Mexico rose 1.02 percent, driving the IPC's rise, while broadcaster Grupo Televisa gained 1.05 percent. Chile's IPSA index remained virtually unchanged at 4,136.97 and little changed for the week.