Stock Markets February 9, 2026

Madrid Stocks Climb; IBEX 35 Hits New Record as Financial and Construction Names Lead Gains

Banks, construction and consumer services push the benchmark higher while commodities and major FX pairs move with the market

By Caleb Monroe
Madrid Stocks Climb; IBEX 35 Hits New Record as Financial and Construction Names Lead Gains

Spanish equities closed higher on Monday, with the IBEX 35 rising 1.40% to reach a fresh record high. Strength in Building & Construction, Financial Services & Real Estate and Consumer Services sectors lifted the market. Banco de Sabadell, Indra A and ACS were among the top performers, while Puig Brands, Enagas and Redeia were the session laggards. Commodity prices and currency pairs also moved higher, while the U.S. Dollar Index futures declined.

Key Points

  • The IBEX 35 closed up 1.40%, reaching a new all time high.
  • Top performers included Banco de Sabadell (BME:SABE), Indra A (BME:IDR) and ACS (BME:ACS); the weakest named stocks were Puig Brands (BME:PUIGb), Enagas (BME:ENAG) and Redeia (BME:REDE).
  • Commodities and currencies moved with equities: gold and oil prices rose, EUR/USD strengthened, and the U.S. Dollar Index futures fell.

Spanish equities ended the trading session higher on Monday as sector gains in Building & Construction, Financial Services & Real Estate and Consumer Services supported broad market advances. At the close in Madrid, the IBEX 35 was up 1.40%, marking a new all time high for the benchmark.


Among components of the IBEX 35, Banco de Sabadell SA (BME:SABE) was the session's top gainer, rising 5.56% - a 0.17 point increase - to finish at 3.28. Indra A (BME:IDR) gained 3.22%, or 1.58 points, to close at 50.70. ACS Actividades de Construccion y Servicios SA (BME:ACS) advanced 3.04%, or 2.95 points, ending the day at 99.85. ACS also reached an all time high in the session.

On the downside, Puig Brands SA (BME:PUIGb) was the weakest among the named stocks, slipping 0.73% - down 0.12 points - to 16.43 by the close. Enagas (BME:ENAG) declined 0.52%, or 0.08 points, to finish at 14.34. Redeia Corporacion SA (BME:REDE) fell 0.39%, a 0.06 point drop, to end the session at 15.14.


Market breadth on the Madrid Stock Exchange favored advancers, with 139 stocks rising versus 52 that fell; 16 issues were unchanged at the close.


Commodities and foreign exchange markets moved alongside equities. Gold futures for April delivery jumped 2.15%, up $107.21, to trade at $5,087.01 a troy ounce. In energy markets, crude oil for March delivery rose 1.62%, gaining $1.03 to $64.58 a barrel, while the April Brent contract increased 1.63%, or $1.11, to $69.16 a barrel.

In currency trading, the euro strengthened against the dollar with EUR/USD up 0.70% to 1.19. EUR/GBP moved 0.31% to 0.87. The U.S. Dollar Index futures slipped 0.65% to 96.87.


The session's price moves were concentrated in sectors tied to construction and financials, which buoyed the benchmark's advance. Rising commodity prices and a weaker dollar corresponded with the broader equity gains observed at the close in Madrid.

Where the market goes next will depend on how these sector-level dynamics evolve and how commodity and currency markets respond in subsequent sessions.

Risks

  • Sector concentration risk - the rally was led by Building & Construction, Financial Services & Real Estate and Consumer Services, which could expose the market to sector-specific volatility.
  • Commodity-driven uncertainty - sharp moves in gold and oil prices may feed into market swings that affect energy and commodity-linked firms.
  • Currency volatility - changes in the EUR/USD and the U.S. Dollar Index futures could influence exporters and importers listed on the exchange.

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