La información Bursátil y el Boletín de Cotización de la Bolsa de Madrid

Résumé

This research analyzes the historical evolution which established the way followed by some referential mass media with regard to the Madrid Stock Exchange information, since 1854, when the Madrid Quotation Bulletin was legalized as an official publication, until 1999, taking into account the social, political and economic events. It analyses likewise the development of the legal regulations which structured and shaped the markets and the data published in the Madrid Bulletin, giving it an official character that made it a reference for information. This Madrid Stock Exchange referential vehicle is treated following the markets contents, which also were present in other mass media such as the general purpose press, paying a special attention to the stocks which were published following a confluence which involved the public and private listed ones. It was composed by Treasury bills, bonds or public debt securities issued by the Spanish Government or public institutions and by the shares issued by private companies. It can be confirmed that all these stocks published in the Madrid Bulletin increased continually in number until 1936, while the general press mainly published public stocks in that period of time, but shares were preferred after 1940. It can also be confirmed that almost all the consulted newspapers included information about the stock markets since the first number published, doing that from then on. So that, the Madrid Bulletin and the general press were complementary to each other as the first one published comprehensive information while the second one was selective. It is also considered the stock exchange information by radio broadcasting through the Madrid stations, considered since they began in Spain in 1924 until 1936, when these stations turned into a propaganda media. They would not broadcast markets information again until the end of the XX century. We take into account the legal evolution and analyze all the times of stocks information broadcasting, concluding that almost all these radio stations included this information which filled a large part of their short life. The case of Unión Radio can be remarked as it covered the Madrid Stock Exchange information uninterruptedly for ten years.