The Spanish economy has changed a lot so far this century. According to the World Health Organization (WHO), Spain is the fourth economy of the euro in these 23 years, the second country that receives the most tourists in the world, and the fourth with the highest life expectancy at 83.6 years. While the weight of services increased greatly in this period, representing 74%, this rate was 16% in industry, 6% in construction and 4% in agriculture. At the beginning of the century, services already accounted for 66.4% and industry 20.9%According to INE’s national accounting data, construction accounts for 8.3% and the primary sector accounts for 4.4%.
How has Spain changed in the stock market? The market capitalization of the ten largest companies in the Ibex 35 is now 467.675 million euros, while the country’s top ten listed companies were valued at 247.929 million euros. Re-evaluation of the ‘top 10’ of the Spanish draft in almost 24 years was 88.6%.
Telefónica had a capital of 80.918 million in 2000 and was the largest company in the Ibex 35, which is dominated by banks and energy companies. Today, the ‘teleco’ that presides over José María Álvarez-Pallete has a capital of 20.535 million and fell to twelfth place by stock market value. A similar situation is happening to Repsol, which rose from the fourth place in this ranking with a capital of 27 billion 347 million at the beginning of the new century to the fourteenth place with a capital of 16 billion 914 million.
Names such as Endesa, which was valued at 20 billion 868 million on the stock exchange in 2000 and was the fifth most valuable value in the Spanish index, and currently ranks thirteenth with a capital value of 20 billion 381 million, are also deleted from the list. This is an example of the positive evolution that Ibex 35 has experienced over these 24 years.
Among companies making the transition to a better life, Argentaria public bank, privatized and part of BBVA; Banco Popular was acquired by Banco Santander for one euro in 2017, and Unión Fenosa was acquired by Gas Natural (now Naturgy) in 2008 for 16,750 million euros.
How is Ibex 35 today? Inditex went public in 2021 and Today it represents 18% of the total capitalization of the entire Spanish index With 122.422 million euros. With a market value of 75.251 million, Iberdrola is the second most valuable compared to the market value of 12.405 million it reached at the beginning of the century.
Banks and energy companies are losing value on the Spanish stock market against the current greater diversity, where fashion and tourism (Amadeus and Aena) have gained a foothold thanks to the decline of these two sectors. Despite this, Banco Santander and BBVA continue to occupy third and fourth places, while Caixabank closes out this ‘top 5’. The five largest companies in the Ibex 35 account for 50% of the entire Spanish index.
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The list also includes new actors such as tourism-related technology. Amadeus or Cellnex with a market value of 29.237 million eurosIt is the first company in the telecommunications industry with a telephone tower infrastructure with a value of 24,497 million dollars. Amadeus went public in 2014 and Cellnex in 2015.
HE The weight of the state in large companies traded on the stock exchange This has also changed in the long term: from the privatization process of Endesa, Argentaria or Telefónica in the 90s to 17.3% of Caixabank by FROB or 51% of Aena today.