Money continues to flee from the Spanish stock market. Today it waves goodbye to the lowest trading volatility since 2004. In the first three months of 2012, and according to provisional data, 175.625 billion euros will have passed through the market. This amount is 29% less than the same period last year and the weakest level of activity since Q4 2004.
Another comparison shows the dearth that this figure signifies: last quarter Spain didn't even do half the business it did in any quarter during 2007, even when the crisis peaked at the end of that year.
Business dropped off most in March when around 60 billion euros were traded (lacking official data for the last two days of the month, the confirmed amount of activity is 54.8 billion). In March, the average daily trading volume was no more than 2.490 billion euros. Average daily trading volume throughout 2012 is 2.710 billion euros.
In 2011 this average was 3.600 billion euros per day, and that year was an intense period of trading compared to historic averages, because the sum total of yearly trading volume did not surpass a trillion euros, which has happened in four of the past six years.
