Spanish stocks closed lower on Thursday as selling pressure in several sectors pushed the benchmark index down. At the close in Madrid, the IBEX 35 had lost 1.38%.
Sector-level weakness was concentrated in Consumer Services, Building & Construction and Financial Services & Real Estate, which collectively contributed to the session's negative tone.
Among individual names on the IBEX 35, Grifols SA outperformed, rising 1.96% - up 0.20 points to finish at 10.41. Amadeus IT also posted gains, adding 1.86% or 0.98 points to close at 53.74. Enagas ended the day 0.58% higher, up 0.09 points to 14.66.
On the downside, ArcelorMittal SA recorded the largest fall among the index constituents, dropping 6.56% or 3.47 points to end at 49.41. Indra A declined 4.11% or 2.65 points to close at 61.85, while International Consolidated Airlines Group S.A. fell 3.87% or 0.17 points to 4.27 by the close.
Market breadth in Madrid was tilted toward decliners: 121 stocks fell versus 72 that advanced, and 12 finished unchanged.
Commodities displayed mixed moves during the session. Gold futures for April delivery were down 0.78% - a drop of 40.29 to $5,094.41 a troy ounce. In crude markets, April-delivery oil rose 6.50% or $4.85 to $79.51 a barrel, while the May Brent contract gained 3.89% or $3.17 to trade at $84.57 a barrel.
Currency markets also showed variation: EUR/USD moved lower by 0.46% to 1.16, while EUR/GBP was essentially unchanged, registering a 0.06% move to 0.87. The US Dollar Index Futures strengthened 0.52% and was trading at 99.24 at the time reported.
The combination of sector-led selling, active moves in energy and precious metals, and a firmer dollar characterized the session in Madrid, leaving the IBEX 35 down 1.38% at the close.