Spanish households are investing more and more money in stocks and shares, says the Bank of Spain.
The latest figures published by the Bank of Spain reveal that households and non-profit organizations, which provide services for households, own €155.3 billion in shares, reports financial newspaper The Corner.
Last year investments grew 3% from the year before to €150.9 billion despite the Ibex-35 index falling 2%.
“Either households were better investors than the rest of the market, separating themselves from the Madrid stock market’s reference index, or they bought more shares in listed companies. In fact, one in every four shares listed on the Ibex-35 index belongs to households, according to data from Bolsas y Mercados Españoles (BME).”
Household financial assets rose by 1.4% in 2016 to €2.09trillion whilst financial burdens, mainly loans, fell by €11 billion to €770 billion. Overall wealth has risen by 3% since 2015 to reach €1.32 trillion, BME report.
Listed shares account for 11.7% of total investments with families owning €796.1 billion worth of shares in capital and investment funds. Spanish households also have a large proportion of their wealth invested in private pension plans, totaling €167.8 billion with a further 187 billion invested in insurance.
Tags: Bank of Spain, Finance Spain, Pension Plans Spain, Stock Market Spain