Spanish equities finished higher on Wednesday, with the IBEX 35 closing up 2.04% in Madrid as sector strength concentrated in Consumer Services, Financial Services & Real Estate and Building & Construction pushed the market upward.
At market close the IBEX 35 stood higher by 2.04%. Market breadth favored rising issues, with 146 names gaining versus 51 that declined and 21 finishing unchanged on the Madrid Stock Exchange.
The session's best performers included ArcelorMittal SA (BME:MTS), which climbed 5.93% or 3.04 points to finish at 54.32. Acerinox (BME:ACX) advanced 4.88% or 0.70 points to close at 15.05, while Grifols SA (BME:GRLS) rose 4.83% or 0.44 points to 9.58 in late trade.
On the downside, Repsol (BME:REP) led decliners, falling 2.24% or 0.52 points to end at 22.73. Fluidra (BME:FLUI) slipped 0.89% or 0.17 points to 18.91, and Telefonica (BME:TEF) eased 0.49% or 0.02 points to close at 4.08.
Commodity markets showed notable weakness during the session. Gold futures for June delivery were down 0.45%, losing 20.35 to trade at 4,537.65 a troy ounce. Crude oil prices retreated more sharply: the July contract fell 5.61% or 5.86 to $98.52 a barrel, while the July Brent contract declined 6.26% or 7.02 to trade at $105.08 a barrel.
In foreign exchange trading, EUR/USD was essentially unchanged at 1.16, reflecting a 0.22% move, while EUR/GBP held steady around 0.86 with a 0.17% change. The US Dollar Index Futures edged down 0.12% to 98.99.
Market snapshot:
- IBEX 35: +2.04% at close
- Advancers vs. decliners: 146 vs. 51; 21 unchanged
- Top gainers: ArcelorMittal (MTS) +5.93%, Acerinox (ACX) +4.88%, Grifols (GRLS) +4.83%
- Top laggards: Repsol (REP) -2.24%, Fluidra (FLUI) -0.89%, Telefonica (TEF) -0.49%
- Commodities: Gold -0.45%, WTI crude -5.61%, Brent -6.26%
- FX: EUR/USD ~1.16; EUR/GBP ~0.86; US Dollar Index -0.12%
The market closed with a clear positive bias in Madrid, supported by outperformance among selected industrials and metals-related names, while energy and some utility-related stocks lagged as oil and precious metals prices moved lower.