Lightyear Launches Spanish Stocks

Published 5 months ago

Investment platform Lightyear has announced the launch of Spanish stocks, connecting with Madrid and Barcelona stock exchanges. This move offers Spanish investors the opportunity to buy into the IBEX 35, where 35 of Spain’s largest companies are listed.

Investment in Funds Quadrupled in Last Decade

Despite the fact that investment in funds has quadrupled in the last decade, the number of Spanish people investing remains worryingly low. Lightyear aims to address this by providing transparent and low-cost access to international markets. This also includes the recent introduction of BlackRock MMFs.

Low-Cost Access to Local Stocks

Lightyear’s connection with the Madrid and Barcelona Stock Exchanges via the IBEX35 is intended to give Spanish investors low-cost access to 35 local stocks. Newly listed instruments include notable companies such as Caixabank, Banco Santander, Melia hotels, and Repsol.

Globally Recognised Brands in the Mix

Included in the IBEX 35 are some of Spain’s biggest exports and local favourites, a number of which are globally recognised brands. Telefonica, for instance, is a parent company for Movistar and O2, two of Europe’s biggest network providers for mobile phones. Inditex, Spain’s largest stock by market cap, owns eight global home and clothing brands, including Zara, Bershka, and Massimo Dutti.

Lightyear’s Response to Low Spanish Investment Rates

Álvaro Quesada Vargas, Head of Growth at Lightyear, comments on the low rate of investment amongst Spaniards. He attributes this to the fragmented offers by current brokers in the market, such as time-limited and capped interest offers. Lightyear’s response is to offer Spanish investors low-cost, transparent access to their local market and to global stocks and funds. Moreover, they are committed to providing fair interest rates on uninvested cash.