In December 2019, net issues (gross issues minus redemptions) of securities by residents totalled a negative value of about €0.8 billion. This figure, in 2019, was about €3.4 billion, remaining positive for the fourth consecutive year. 

This value is explained by net issues of stocks (€2.7 billion) and debt securities (€0.7 billion) (Chart 1).

Concerning the institutional sector, the general government recorded positive net issues of €3.1 billion on debt securities and €1.8 billion on shares of public corporations, which are held by the Portuguese State.  The non-financial corporations recorded positive net issues of €3.4 billion, while the financial corporations registered negative net issues (€4.8 billion), showing the same trend as for the previous year (Charts 1 and 2).

The outstanding amount of securities issued by residents totalled €455.7 billion, an increase of €16.8 billion when compared to 2018 (Chart 3). This increase was primarily due to an increase on market value of general government debt securities (€7.6 billion) and by non-financial corporations shares (€6.8 billion) (Chart 4).