Spain's equities rose on Thursday, with broad-based sector strength sending the IBEX 35 into positive territory at the close in Madrid. The index finished the session up 0.78%.
Leading the winners were companies in the Building & Construction, Consumer Services and Telecoms & IT sectors, where several constituents posted solid gains by the end of trading.
The top performers on the IBEX 35 included Acerinox (BME:ACX), which climbed 4.34% or 0.58 points to close at 13.94. The stainless steel producer's shares reached five-year highs during the session. Energy major Repsol (BME:REP) added 3.37% or 0.74 points to finish at 22.72, while ACS Actividades de Construccion y Servicios SA (BME:ACS) advanced 2.60% or 3.10 points to end the day at 122.50.
On the downside, Naturgy Energy Group SA (BME:NTGY) fell 0.82% or 0.22 points to close at 26.66. Insurance group Mapfre (BME:MAP) dropped 0.76% or 0.03 points to 4.17, and pool equipment maker Fluidra (BME:FLUI) was down 0.55% or 0.11 points to 19.89.
Market breadth in Madrid was positive: 126 stocks rose, 71 declined and 15 ended unchanged on the session.
In commodities trading, Gold Futures for June delivery rose 1.44% or 65.71 to $4,627.21 a troy ounce. Crude oil for June delivery fell 2.33% or 2.49 to $104.39 a barrel, and the July Brent contract declined 0.53% or 0.59 to trade at $109.85 a barrel.
Foreign exchange markets showed moves alongside equities and commodities. EUR/USD was up 0.49% to 1.17, while EUR/GBP unchanged 0.33% to 0.86.The US Dollar Index Futures was down 0.83% at 98.01.
Summary
The IBEX 35 closed higher, led by gains in construction, consumer services and telecoms & IT stocks. Acerinox reached a five-year high, while Repsol and ACS also recorded notable increases. Select utility and insurance names underperformed. Commodities saw mixed moves with gold higher and crude oil lower, and the dollar weakened on futures.
Key points
- IBEX 35 closed up 0.78%, with sector leadership from Building & Construction, Consumer Services and Telecoms & IT.
- Acerinox (BME:ACX) led gainers, rising 4.34% to 13.94 and reaching a five-year high; Repsol (BME:REP) and ACS (BME:ACS) were also among top performers.
- Commodities and FX: Gold futures jumped to $4,627.21 an ounce, while June crude fell to $104.39 a barrel; EUR/USD traded at 1.17 and US Dollar Index Futures was down at 98.01.
Risks and uncertainties
- Weakness among utilities and insurers - exemplified by Naturgy and Mapfre declines - may signal sector-specific pressures that could limit broader market gains.
- Volatility in commodities, notably the drop in crude oil prices, presents an uncertainty for energy-sector earnings and related equity performance.
- Currency and dollar moves, including a softer US Dollar Index Futures print, can introduce FX-related impacts on exporters and firms with significant foreign-currency exposure.
These observations reflect closing prices and session data from Madrid's trading day.