The Spanish stock exchange (BME) reached a monthly historic trading record in October: €6.4 million, 133% higher than the same period in the previous year. The institution traded €91.468 billion in equity, 30% more than in October 2012 and the highest figure registered in the last 27 months. Accumulated volume until October rose by 39.5% and reached €575.88 billion.
The traded volume in the EFT soared by 380% and now stands at €889 million, whereas the hoarded cash until October grew by 40.2% to €3.382 billion. The negotiation registered last October in the BME’s Corporate Bond Market was 91% higher that in 2012, with €112.416 billion. However, accumulated volume of the first 11 months of 2013 fell by 48.5% compared to the same period in 2012.
Most Spanish analysts were positively surprised by these data, which seem to show a path towards the recovery. “The strong increase in the number of operations is a very positive sign regarding the 4Q13 revenues,” experts at Sabadell explain. For they part, market watchers at Ahorro Corporación Financiera (ACF) consider that these data “may have a good impact in BME’s prices. If everything continues like this, we could even see a small growth in the company’s results.”
But the Spanish stock exchange is not the only growing sector. According to several motor industries’ employers organizations (Anfac, Faconauto and Ganvam), new car registrations in Spain increased by 34.4% last October thus continuing September’s 28.5% rise.
The employers organizations attribute the increase in sales to the positive effect of the so-called PIVE Plan (assistance program to buy energy-efficient vehicles), which has led to a significant growth of the private individuals channel, and the PIMA Aire Plan, which broke the negative trend in the companies channel.
So it seems that Spain is, after all, taking its first steps towards growth.
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