Spanish Ibex 35 Receives €4bn Daily

Spanish Ibex 35 receives €4,000 million daily

Spain is on a roll: its turnover exceed €4,000 million on Thursday, thus reflecting a strong entry of investment.

“Trust in Spain is increasing in a way you cannot imagine. (…) Everybody has an interest in investing in Spain: everybody. The country receives money from everywhere to everywhere: the stock exchange, to the Spanish debt…, so as to make new investments,” Executive Chairman of Grupo Santander Emilio Botin said.

Botin also claimed that the Spanish banking sector “will pass with honours the European stress tests in the coming months.” After all, his own bank is performing quite well, especially at the United States, where he aims to double profits from its U.S. banking business in the next three years from $1 billion now. “There is no better way to express our confidence in and commitment to the U.S,” Botin added. Four years after buying Sovereign Bank, Spain’s Santander Group officially rebranded its U.S. subsidiary as Santander Bank.

The inward investment in Spain allowed the country’s Treasury sell €15.4 billion in October –including last auction on Thursday, with which it covered almost 90% of its financing needs and 99% of long-term assets.

About the Author

The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.

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