Spanish stocks finished the trading day higher on Tuesday, with sector gains concentrated in Financial Services & Real Estate, Consumer Services and Building & Construction helping to lift the benchmark.
At the close in Madrid the IBEX 35 was up 3.05%.
Top performers
- ArcelorMittal SA (BME:MTS) led the index, rising 6.91% or 3.18 points to close at 49.21.
- Banco Santander (BME:SAN) added 5.73% or 0.54 points to finish the session at 10.01.
- International Consolidated Airlines Group S.A. (BME:ICAG) gained 5.13% or 0.21 points to end at 4.34.
Lagging names
- Grifols SA (BME:GRLS) was the weakest performer, down 1.85% or 0.18 points to 9.74 at the close.
- Repsol (BME:REP) declined 1.05% or 0.22 points to settle at 20.75.
- Amadeus IT (BME:AMA) slipped 0.45% or 0.24 points to 53.62.
Market breadth in Madrid was tilted heavily to the upside, with 162 stocks advancing versus 38 falling, and 12 finishing unchanged.
Commodities and energy
In commodities trading, gold futures for April delivery rose 2.69% or 137.19 to trade at 5,240.89 a troy ounce. By contrast, crude oil for April delivery posted a sharp decline, falling 15.06% or 14.27 to $80.50 a barrel, while the May Brent contract fell 14.54% or 14.39 to $84.57 a barrel.
Currencies and US dollar
FX moves were more muted. EUR/USD was effectively unchanged, moving 0.20% to 1.17, and EUR/GBP was unchanged at 0.87, with a 0.05% change noted. The US Dollar Index Futures traded lower, down 0.64% at 98.54.
Takeaway
Tuesday's session saw a broad rise in Spanish equities, underpinned by gains in several cyclical and consumer-exposed sectors. Commodity markets experienced pronounced swings, with gold higher and crude oil dropping sharply. Currency markets showed limited movement against the euro, while the US dollar index weakened.