July 8, 2020

CNMV warns that trading in the Spanish stock market continues to lose share



The president of the National Securities Market Commission (CNMV), Sebastián Albella, has warned that the percentage of trading of Spanish shares in foreign markets already exceeds 40% between January and September, three points more than at the end of 2018, and the Spanish stock market continues to lose share.

During his appearance at the Economy Commission of Congress to explain this annual activity report for Wednesday, Albella has stressed that this trend "is worrying in an environment of strong competition that has driven even more MiFID II (the new European directive of capital markets) and in which the so-called systemic internationalization is gaining ground. "

He recalled that MiFID II forces us to ensure that the regulation favors the competitiveness of our markets or at least does not harm it and in this sense has considered that a tax on the acquisition of Spanish shares similar to those existing in France or Italy, although not in most countries of the European Union.

Albella recalled that the evolution of the markets in 2018 was bearish in the field of equities, especially in the last quarter and has indicated that practically all international indexes experienced declines, only partially recovered during the first quarter of 2019.

"The negative trend was particularly marked in the Spanish equity market and in sectors such as banking, which in our stock market weighs especially," he said.

The president of the CNMV has explained that the negotiation on Spanish shares was 930,000 million euros in 2018 and highlighted that it grew in non-Spanish markets by exceeding 37%, compared to 32% in 2017 and 28% at the end of 2016.

. (tagsToTranslate) CNMV (t) warns (t) negotiation (t) Spanish (t) losing



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