Spanish Stock Exchange (BME)’s exposure to Tobin tax is the most significant among main European stock markets operators because it basically trades equity. This did not avoid the company to increase its trading volume in 2014’s first five months to €338 bn. Specifically, last May’s figures reached a high of €72.2 bn, which means growing by 49.8% yearly.
“Annualising 2014’s numbers, prospects for BME’s trading volume may climb even to €820 bn, sligthly 1.2% over our forecasts of €810 bn,” Barclays’ experts said.
Therefore, estimations for BME in 2014 and 2015 continue to be positive.
“Those figures would represent the volume to be traded is to increase by 15% in 2014 and almost similar 14% in the following year,” they added.
The Spanish company’s dividend yield stands at 5.5% and could reach 6.4% in 2015.
As reported by the City of London, which is radically against the global tax on financial transactions, the Tobin tax would reduce retail investments on Spain’s stock markets by €80 bn, that is, by 11%. Spanish analysts at Sabadell considered these City’s estimates as “very high but reasonable”, considering Italy’s trading volume fell by 15% after a similar tax was implemented.