Madrid stocks closed higher on Wednesday as gains in several key sectors pushed the benchmark index to a new record. The IBEX 35 rose 1.35% by the close in Madrid, marking an all-time high for the index.
Sector performance
Stocks in the Financial Services & Real Estate, Building & Construction and Consumer Goods sectors led the market higher during the session. Broad strength across these areas contributed to the IBEX 35's advance into record territory.
Top and bottom performers
Among individual components, ArcelorMittal SA (BME:MTS) was the top performer on the IBEX 35, finishing up 4.18% - a gain of 2.24 points - to close at 55.88. ACS Actividades de Construccion y Servicios SA (BME:ACS) added 4.13%, or 4.20 points, ending the day at 106.00. Indra A (BME:IDR) also posted gains, climbing 3.59% or 1.85 points to 53.40 in late trade.
On the downside, Aena SME SA (BME:AENA) was the weakest name on the index, sliding 3.78% or 1.09 points to close at 27.72. Naturgy Energy Group SA (BME:NTGY) declined 3.55%, a loss of 0.94 points, to finish at 25.56. Telefonica (BME:TEF) was down 2.57% or 0.09 points to end the session at 3.57.
Market breadth
Rising issues outnumbered decliners on the Madrid Stock Exchange, with 114 shares advancing compared with 75 that fell; 18 stocks finished unchanged.
Notable stock milestones
Shares of ArcelorMittal rose to five-year highs, reflecting the session's strongest percentage gain for the name. ACS shares climbed to an all-time high during the session, matching the day's elevated performance for the construction group.
Commodities and currencies
Commodity contracts traded higher. Gold Futures for April delivery rose 2.34%, an increase of 115.00, to trade at $5,020.90 a troy ounce. Crude oil for April delivery gained 3.74% or 2.33 to reach $64.59 a barrel, while the April Brent oil contract increased 3.53% or 2.38 to trade at $69.80 a barrel.
On the foreign-exchange front, EUR/USD was recorded at 1.18, with a noted change of 0.35%. EUR/GBP was listed at 0.87 with a change of 0.13%. The US Dollar Index Futures was up 0.37%, trading at 97.42.
Summary
The session closed with the IBEX 35 at a record high, led by gains in financials, construction and consumer goods, while select utility and telecom stocks posted declines. Commodities and the US dollar futures also moved higher during the trading day.