In Spain

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New Record: 50.4% of the Spanish Stock Market is Owned by Foreign Investors

International investors consolidate their position as the largest owners of the Spanish stock market, reaching a new historic high, while retail households regain part of their lost ground. These are some of the main conclusions of the BME Report on the Ownership of Listed Spanish Shares, prepared by the BME Research Department using data as of year-end 2025 and, for institutional investment, as of June 2026. The stake of international…


Exports

Spain: Trade deficit grows by 30%, reaching EUR 38,000 million

Exports of goods reached EUR 35,454 million in July, its highest historical figure for the month of July, after growing 3% year-on-year, while imports rose by 5.8% year-on-year to EUR 40,678 million, also a record figure for a month of July. As a result, Spain’s trade deficit stood at EUR 5,224 million in July, compared to the EUR 4,010 million deficit generated in the same month of the previous year….


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Net foreign investment in Spain falls by -40% in the first half of the year to 3,407 million euros.

Net foreign investment in Spain falls by -40% in the first half of the year to 3,407 million euros. Gross investment increases by +31.3% to 12,446 million euros, but divestments grow by +171% to 9,038 million euros. According to Bankinter’s team of analysts, this is the worst figure since the 2012 crisis. In 2025, net foreign investment had already fallen by -19% to 20,060 million euros. The United States remains…


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Spain and the Collapse of the Basics: Defense, Education, Healthcare, and Housing

Aurelio Medel | The Government of Pedro Sánchez, which boasts about the performance of the economy, faces the end of a cycle with failure in what is essential. Defense: The invasion of Ceuta teaches the lesson that Morocco can take Spain’s North African strongholds without firing a single shot, using only the deployment of people. And on this side of the Strait of Gibraltar, we are still debating how and…


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Spanish public debt grows at 3.8%, faster than GDP, but runaway inflation reduces it to 99.9% of GDP

According to data from the Bank of Spain (BdE), public administration debt stood at 99.9% of GDP in July, 2.4 percentage points lower than a year earlier, dropping below 100% for the first time since February 2020. In absolute terms, the debt balance rose to EUR 1.744 trillion, a 3.8% increase year-on-year, although it decreased from the EUR 1.763 trillion reached in June. By level of government, central government (State)…


Spanish Housing Market

Fedea warns that the poverty rate in Spain reaches 23.5% when including housing costs

Fedea warns that one in four Spanish tenants falls below the poverty threshold after paying their rent. This affects around 1.95 million people in Spain who were in a situation of “hidden poverty” in 2025—meaning they were not classified as poor under the conventional monetary disposable income criteria, but fell below the poverty threshold once the cost of accessing housing was factored in. This was revealed in the study “The…


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Housing crisis? INE asserts that “building construction” is falling by 40% year-on-year

According to the National Statistics Institute (INE), construction output, adjusting for seasonal and calendar effects, fell in Spain by 0.3% in July compared to June. In June, this variable had dropped by 0.7%. Of the three divisions analyzed, only building construction posted a negative monthly rate (-1.4%). On the other hand, specialized construction activities recorded the largest increase in July (+2.0%). In year-on-year terms, construction output—adjusted for seasonal and calendar…


Global debt

Spanish 10-year bond yield breaks the 4% barrier, reaching levels not seen since 2013

Following the interest rate hike in the eurozone—when the ECB raised its official rate by 0.25 percentage points to 2.5% last Thursday—eurozone debt has begun its ascent. Consequently, the yield on Spanish 10-year sovereign bonds has pierced the psychological 4% threshold for the first time since 2023, hitting levels last seen in 2013. Specifically, the Spanish 10-year bond rose to 4.022% around 4:45 p.m. this Monday, trading near 2013 highs….


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Spanish stock market: 41 stocks rated Buy and 6 rated Sell according to the September Market Consensus

Patrivalor | According to the September market consensus, there are currently 41 stocks with a buy recommendation (scored between 1 and 2 points), compared to 44 at the close of 2025. The recommended stocks are: Inditex, Amadeus, IAG, Cellnex, Logista, Almirall, Puig Brands, Cirsa, Neinor, Faes, Pharmamar, DIA, Atresmedia, Aedas, Arcelor, Repsol, Acerinox, Cie Automotive, Vidrala, Indra, Técnicas Reunidas, Ence, Tubacex, Ferrovial, Merlin Properties, FCC, Inmobiliaria Colonial, Sacyr, OHLA, Iberdrola,…


Judges

The Supreme Court suspends the electoral effects of a “Grandchildren Law” that had already generated nearly half a million new voters

The Third Chamber (Administrative Litigation) of the Supreme Court has issued a precautionary suspension of the electoral effects linked to the “Grandchildren Law” (eighth additional provision of the Democratic Memory Law). The decision comes in response to appeals filed against a ministerial instruction that arbitrarily broadened the criteria applied in consulates following the law’s entry into force. The instruction in question applied a blanket presumption of exile status to those…