This summer has been dominated by huge stock market losses in Spain. The Ibex has given up 16% since July 22. Since September 12 the drop has been sharpest, considering that the Ibex dropped another 23.7% after hitting annual lows and passed lows not seen since March of 2009. There has been a slight recovery since it bottomed out.
The situation has caused a strong drop in share prices for the majority of stocks on the Ibex, and CEOs are taking advantage of low prices by buying up their own shares. This sends a message of confidence to any company's shareholders.
Carefully observing the markets since they began moving downward, Ibex CEOs have made investments totaling more than 58.38 million euros. The figure would be higher if we considered total purchases, because some CEOs have capitalized on the small rebounds in order by closing positions and capturing quick profits. Although this kind of quick sale has not been very popular.