BBVA reverses after LatAm chief reassures market at Reuters Summit

BBVA shares reversed their 1.8 percent drop and began to regain ground as volumes rose fivefold in the minute and a half following a Reuters exclusive interview with the head of the bank’s LatAm operations Vicente Rodero. The share price maintained its upward trend over the rest of the session closing down just 0.61 percent on the day as the Greek crisis hammered bank shares in Spain and around the continent. The interview was part of the Reuters LatAm Summit. The key market moving element in the interview was Rodero`s clear denial that BBVA plans to list its Mexican unit Bancomer, the subject of recent speculation. The interview was picked up in Latin American and Mexico press as well as by Spain’s leading financial paper Expansion, citing Reuters, and Iberian Equities broker note.