The CNMV announced yesterday that five companies could go public on the Spanish stock market in Q1 2014. The activity suggests that the stock market is getting back to normal. The five companies could meet the goals they need to meet in order to get listed on the Ibex, because they have strong capital reserves and high expected cash flow.
Further, there is a lot of cash in the stock market already, plus enough investor confidence and risk appetite. PIMCO, for example, said that it expects the Spanish risk premium to fall to 100 points and it is interested in the nation's treasuries and bank debt bonds. All of this is a big attaboy for the banks efforts to clean up balance sheets and jumpstart the economy.