Less than half a month away from putting the final touch on the year 2024, it’s time to take stock. As far as the Spanish market is concerned, this year has been marked by growth, with a 97% increase in financing flow in the national stock market (up to 9,316 million euros) compared to last year’s data, which places to Spain in tenth place in the world ranking, which represents an increase of four places compared to 2023, when it closed as the fourteenth, according to data from the World Stock Exchange Federation shared by BME.
This greater financing is driven especially by IPOs, with 24 incorporations of companies to the markets managed by BME in these eleven months of exercise. Puig’s jump onto the stock market, which was the largest exit in the world in the first half of the year and also broke the deep drought of jumps onto the stock market that the Spanish stock market has been experiencing since 2021, has a great weight within this percentage, at a time when Green shoots are already being seen in the national market, but there is still a long way to go to continue attracting financing.
Upon leaving the firm premium beauty Catalan was followed on the stock market by Inmocemento and Cox. In addition, BME Growth and BME Scaleup have attracted 21 small and medium-sized companies from different sectors of activity, 23 if we add the two that have joined together so far in December and that have not yet been included in the BME report, prepared with data at the end of November. “It is the best year in number of incorporations since 2018. Naturally, we always want more, but this path is the right one. It is important that more companies, of all sizes and sectors, benefit from the advantages of becoming listed companies. In December, two more companies have joined,” recalled Javier Hernani, head of BME in Spain until last November and now at the head of the Securities Services business unit of SIX.
Among the data provided by BME, Juan Flames, current CEO of the company, Three stood out: the 6% growth in trading volume on the Spanish stock market; the 24 IPOs carried out in 2024 and the 32% increase in the amount of capital increases, while the funds raised in the IPOs have exceeded 3.2 billion, multiplying by 80 the volume of the previous year, he added in that last point.
Hernani pointed out in the presentation of the report the good work of the Ibex 35 in 2024, where it has once again been one of the most profitable in Europe, with a revaluation of 15.2% until November, and has already chained five consecutive semesters to rise. Specifically, In the first eleven months of the year, 294,218 million euros have been negotiated in shares on BME platforms, 6% more than in the same period of the previous year. “It is the first increase in the annual amount traded in shares since 2015. If last year at this time we celebrated that the selective exceeded 10,000 points, now it is around 12,600, and has chained five consecutive semesters on the rise,” he completed.
Shareholder remuneration, one of the great hallmarks of Spanish firms, has shone again for another year, where listed companies have increased remuneration by 25% until November and have distributed 34,655 million euros. “It is also very significant that, if share redemptions are added to this figure, another growing formula for shareholder remuneration, it exceeds 48.2 billion euros. This represents a growth of 11% and a new historical maximum in remuneration to the shareholder of Spanish listed companies,” Hernani contributed.
BME also values fixed income for its flexibility in response to the needs of issuers. In this field, they stood out the 5.2% growth in emissions incorporated into the MARF, up to 14,468 million euros. In the Fixed Income markets and platforms managed by BME, 60 new green, social and sustainable issues have been admitted to trading until November, for an amount close to 86.2 billion euros, so at the end of November there are already 222 issues. live of this type in the BME markets.
However, Hernani also made special mention of the White Paper on boosting the competitiveness of the Spanish capital markets that BME also presented at the beginning of January. “Almost a year later, we can say that we are very satisfied with the reception of that report, which proposed 56 measures to boost the markets of our country. After our report came others such as the Letta Report, the Draghi Report or the most recent report of the OECD with recommendations to boost the European and Spanish capital markets,” Hernani indicated.
In this thread, he pointed out that a fundamental debate has been opened “that must allow us to address the financial markets for what they are, the main generator of business activity, economic growth and social well-being.” Here, the previous CEO of BME underlined the work of the stock market as “a matter of State”, since “without the support of the financial markets it will not be possible to finance the necessary green transition. The same can be said of the future of pensions, which, according to all the experts, will require private savings through the financial markets”.
Tailwinds for the coming months
The current CEO of BME, projected in this presentation a positive vision also for the year that is about to begin. “Despite the difficulties and uncertainties, 2024 has been a year of growth for the Spanish financial markets, with the arrival of new companies, the increase in business financing and the increase in shareholder remuneration, among other factors. We work so that 2025 will once again be a good year in which more companies of all sectors and sizes make the leap to the capital markets, which are the ones that offer them more visibility, reputation and recurring access to financing,” explained the manager. .
The CEO thus specified the tailwinds blowing in the national market in a scenario of gradual decreases in interest rates in the United States and Europe and where “the economic growth forecasts in Spain represent an extra incentive for taking positions in our market”. “Spain will be the one that grows the most in the European Union in 2024, with a forecast that could exceed 3%. And, in addition, it will once again be among the economies with the highest GDP increase in 2025 among developed countries, with a forecast of 2.3% according to the OECD.”
Flames believes that the outlook macro It therefore offers a good basis for the Spanish stock market, both for cyclical and growth stocks, and in all sectors of the Spanish stock market.
The CEO of BME highlighted the company’s objective of increasing the pace of incorporation of companies into the stock market ecosystem in the coming years in an environment in which “regulation seems to work in favor of the stock markets.” “The recent announcement by the CNMV in which it indicates that it will speed up the approval of prospectuses before the distribution of shares in an IPO, represents a great opportunity for companies that are considering going public to do so with greater confidence.”
Among the actions carried out by BME, Flames pointed out the recent launch of SpainAtMid, a new order book without pre-transparency whose objective is to make trading in Spanish equities more attractive. “SpainAtMid will provide an additional source of liquidity to Spanish securities, through which large volume transactions can be crossed with minimal impact on the market, but with the robustness and efficiency of the BME trading system and in which, in addition, Interaction with the BME visible book is instantaneous.”
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