Bloomberg News

Mexican Stock Volatility Caused by Europe Concern, Tellez Says

November 17, 2011

Nov. 17 (Bloomberg) -- An increase in volatility in Mexican stocks has been caused by concern about Europe’s debt crisis, according to Luis Tellez, Chief Executive Officer of Bolsa Mexicana de Valores SAB, the exchange operator.

“Berlin, Rome and Athens determine the volatility in the markets,” Tellez said today in an interview in CNBC.

Mexican companies are exposed to Europe through credit lines, while the country’s first- and- third-biggest banks are operated by Spain’s Banco Bilbao Vizcaya Argentaria SA and Banco Santander SA, Tellez said.

--Editor: Richard Richtmyer

#<227498.7844688.2.1.95.14779.25># -0- Nov/17/2011 14:25 GMT

To contact the reporter on this story: Veronica Navarro Espinosa in New York at vespinosa@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


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