The second quarter meant a balancing of the capital inflows and outflows on the market and of purchase transactions with sales transactions. Net inflows and outflows in the first quarter ranged from 30 to 50 million euros each month. Last month, net purchases made by foreigners reached a mere 500,000 euros, according to data from the National Securities Commission  (CNVM). In the last three months, foreigners brought just 1.6 million euros (net inflows) to their accounts opened with depositary banks or to brokerage companies, while net share purchases stood at about 20 million euros. In the first quarter, foreigners brought 28 million euros to the market, with net purchases standing at 84 million euros. In the second quarter of this year, shares of the companies listed on the Stock Exchange witnessed significant declines given the generalised decline of all emerging markets around the world. The declines seen on these markets are supposedly due, according to international analysts, to the change in how risk is perceived by big institutional investors, given that interests have gone up worldwide.

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