Spain’s Market Regulator Proposes ‘Ibex 50’ to Cut Bank Dominance

Spain’s Market Regulator Proposes ‘Ibex 50’ to Cut Bank Dominance

Spain’s stock market regulator wants to expand the main index from 35 to 50 companies to reduce the outsized influence of banks and boost market diversity.

· 1 min read ·
stock marketeurope

The head of Spain’s National Securities Market Commission (CNMV), Carlos San Basilio, proposed creating an “Ibex 50” on Friday. Speaking at a summer course in Santander, he said the goal is to include more large companies from different sectors and reduce the heavy weight of banks. Currently, six banks make up about 40% of the Ibex 35 [182411].

San Basilio noted that new company listings are very slow, with only one initial public offering so far this year and a possible second before or after the summer [182411]. He also called for changes to Spain’s nearly 20-year-old takeover law, saying it “has fulfilled its role” but needs clearer wording. He pointed to the recent hostile takeover bid by BBVA for Banco Sabadell as a reason to review the rules [182411].

The regulator confirmed it has already shared its concerns with the Treasury and will provide more details when the government begins the reform process [182411].

Sources

Spain’s Market Regulator Proposes ‘Ibex 50’ to Reduce Bank Dominance #182411

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