Investors pull 120bn euros out of Spain

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Investors pulled a record net 122 billion euros ($155 billion) of capital out of Spain in the first four months of 2012, the central bank said Friday.

It was the highest figure since comparable records began in 1990, reflecting heightened concern about recession-hit Spain's financial stability four years after a property bubble burst.

Investors shifted 121.9 billion euros ($155 billion) of capital out of Spain between January and April - more than during the whole of 2011, when 68.3 billion euros were withdrawn, Bank of Spain figures showed.

In contrast, between January and April 2011, Spain received a net 24.2 billion euros of investment.

The figures include debts, deposits, shares and sovereign bonds held by overseas investors in Spain, but not investments made by the central bank itself.

The Madrid stock exchange has lost nearly 20 percent of its value since the start of the year.

The share of Spain's public debt held by foreign investors fell to 37 percent in April 2012 compared to 53.7 percent in the same month last year, the central banks said. - Sapa-AFP


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