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.
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