Playing in front of a near capacity Old Trafford Stadium, the Emirates took the lead on the 23rd minute and looked like the better side for much of the first half.
But with four minutes to go before the break, Uruguay's Gaston Ramirez curled the ball into the top right-hand corner of the net from a free kick after Liverpool striker Luis Suarez was brought down.
Lodeiro came on for the second half and converted a close shot in the 55th minute following a fluid Uruguayan move down the left flank.
Uruguay is seen as possible medal contender for this year's Games.
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