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Overseas investment in Spain falls 10 mln Euro in November

Mon 31st Jan 2011

Overseas investment in Spain dropped by almost 10 billion euros in November alone, following panic in the markets caused by the financial troubles in Ireland.

In the rest of 2010 before that point, the fall in overseas portfolio investments came to a total of 26.2 billion euros, according to report issue earlier today by the Bank of Spain. This represented a fall of almost 50% - 50.9 billion euros, for the same period in 2009, the Madrid based central bank said.

The Country's Ibex-35 main share index fell by 17 % overall in 2010, and Spanish bond yields surged as Greece and Ireland looked for international bailouts. The gap between Spanish and German 10- year borrowing costs reached a hight by the end of November, reaching 298 basis points.

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