Mexico’s five-hour stock trading stoppage yesterday was caused partly by a connection failure with a component bought from a unit of NYSE Euronext, said Luis Tellez, chief executive officer of the country’s exchange.
Mexican real estate-linked securities known as Fibras will begin trading soon and represent “an enormous opportunity,” said Luis Tellez , chief executive officer of Bolsa Mexicana de Valores SAB , Mexico’s stock exchange operator.
Mexico has 10 companies planning initial share offerings that may proceed when economic conditions improve, said Luis Tellez, chairman and chief executive officer of Bolsa Mexicana de Valores SAB, the nation’s stock exchange operator.
Petroleos Mexicanos, Latin America’s largest oil producer, would benefit from following the path of Brazil’s state-controlled Petroleo Brasileiro SA and selling a stake to the public, according to Luis Tellez , chairman and chief executive officer of Bolsa Mexicana de Valores SAB .
Compania Mexicana de Aviacion, Mexico’s biggest airline by passengers, filed for protection from creditors in Mexico and the U.S. after its executives said they had failed to reach cost-saving agreements with labor unions.
European nations, struggling to end their sovereign debt crisis, should look for guidance from Group of 20 president Mexico’s swift action to resolve its own financial troubles in the 1990s, officials here said.
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.