Spain's equities closed lower on Thursday, with the IBEX 35 finishing the session down 1.22% in Madrid. Broader weakness was driven by declines in the Financial Services & Real Estate, Consumer Services and Building & Construction sectors, which collectively weighed on market sentiment.
Among the IBEX 35 constituents, Repsol (BME:REP) was the session's strongest performer, rising 2.63% or 0.57 points to close at 22.27. The stock reached a five-year high in the session, reflecting investor interest in the energy name. Utilities Endesa SA (BME:ELE) and Iberdrola (BME:IBE) also advanced, with Endesa adding 1.76% or 0.60 points to finish at 34.76 and Iberdrola rising 1.72% or 0.33 points to close at 19.54.
On the downside, several financials and an industrial name recorded the steepest losses. Unicaja Banco SA (BME:UNI) fell 4.56% or 0.12 points to end at 2.47, while Banco de Sabadell SA (BME:SABE) declined 4.16% or 0.13 points to close at 3.04. ArcelorMittal SA (BME:MTS) was also among the weakest stocks, dropping 4.10% or 2.00 points to trade at 46.74.
Market breadth in Madrid was negative, with decliners outnumbering advancers by 140 to 54 and 10 shares finishing unchanged.
Commodities saw significant moves during the session. Gold Futures for April delivery fell 0.91% or 46.99 to $5,132.11 a troy ounce. By contrast, crude oil rallied sharply: the April contract rose 8.88% or 7.75 to reach $95.00 a barrel, while the May Brent contract climbed 8.22% or 7.56 to trade at $99.54 a barrel.
In foreign exchange trading, EUR/USD was effectively unchanged at 1.15, reflecting a 0.31% reading in the report, and EUR/GBP showed minimal movement, recorded as unchanged at 0.86 with a 0.06% note. The US Dollar Index Futures moved higher by 0.40% to 99.62.
The session left Spain's main index lower on the day, with energy names providing some support amid stronger commodity prices, while several financial and industrial names led declines. Market participants will be watching whether the shifts in commodity markets and the uneven sector performance carry forward into subsequent sessions.