The Spanish equity market has entered an era of shareholder democracy as domestic investors begin to pile in seeking a higher risk-return profile than they can get from traditional fixed-income investments.
“We were forecasting an influx of Pta585 billion ($4 billion) in new investment in the equity market this year but what we’ve seen in the first five months has already exceeded our estimate,” says Cecilia Planiol, chief economist at Santander Investment. “We are in a situation where for the first time in Spain people feel that low interest rates are here to stay.
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