The Spanish Stock Market Is European Leader In Capital Raising

New investment flows channelled through the Spanish Stock Market in 2004 reached $ 39.5 bn. The figure exceeds that for the London Stock Exhange, Italy, Tokyo and Euronext and comes only behind that for the New York Stock Exchange, according to the latest data released by the World Federation of Exchanges (WFE).

In 2004, the Spanish Stock Market has, once more, made good its commitment to channelling investors’ savings and providing capital raising to the different sectors in the country’s economy.

The new investment flows channelled through the market include capital increases and IPOs.

In 2004, three IPOs were carried out on the Spanish market, namely, Fadesa, Telecinco and Cintra. Non-monetary capital increases on the market in the last decade reached a market value of € 115 bn and represented 75% of the total value of capital increases. With the volume of capital increases exceeding € 13 bn, the year 2004 was the third best in the last decade, just behind 1999 and 2000.

NEW INVESTMENT FLOWS CHANNELLED BY GLOBAL MARKETS

STOCK MARKET	2004
NYSE	123.86
BME Spanish Exchanges	39.58
LSE	34.25
Hong Kong StockExchanges and Clearing	32.15
Euronext	28.63
Tokyo Stock Exchange	14.90
Borsa Italiana	1 3.79
Nasdaq 1	3.34
Deutsche Börse	n.a.

Source: World Federation of Exchanges (WFE) Bn US $