Stocks in Madrid ended the trading day in negative territory on Monday, with headline index IBEX 35 sliding 1.18% at the close. Pressure came from several cyclical and consumer-related sectors, which contributed to the broad market decline.
Market breadth and leadership
Decliners outpaced advancers across the exchange, with 144 names lower versus 45 that rose and 27 unchanged. The Consumer Services, Building & Construction and Consumer Goods sectors were singled out as principal sources of downward pressure on the market.
Top performers
- Repsol (BME:REP) led gains on the IBEX 35, up 2.40% or 0.53 points to close at 22.57.
- Amadeus IT (BME:AMA) added 1.75% or 0.96 points to finish at 55.70.
- ArcelorMittal SA (BME:MTS) rose 1.11% or 0.66 points to end the session at 60.04; shares in ArcelorMittal moved to 5-year highs during the session.
Largest decliners
- Ferrovial (BME:FER) was the weakest on the IBEX 35, dropping 3.61% or 2.12 points to close at 56.58.
- Aena SME SA (BME:AENA) fell 3.05% or 0.76 points to 24.14 at the close.
- Cellnex Telecom SA (BME:CLNX) eased 2.57% or 0.74 points to trade at 28.08 in late trade.
Commodities and energy
Commodities showed marked moves during the session. Gold Futures for August delivery was down 1.98% or 91.10 to $4,501.90 a troy ounce. In energy markets, Crude oil for July delivery rose 7.66% or 6.69 to $94.05 a barrel, while the August Brent oil contract gained 6.65% or 6.06 to trade at $97.18 a barrel.
Foreign exchange and indices
EUR/USD was reported unchanged 0.34% to 1.16, while EUR/GBP was unchanged 0.23% to 0.86. The US Dollar Index Futures was up 0.38% at 99.22.
Session takeaways
The trading session in Madrid was characterized by broad weakness led by consumer and construction-related names, with energy and commodity prices moving sharply higher and lower respectively. Market internals underscored the negative bias as decliners outnumbered advancers by more than three to one.
Indices and selected movers: IBEX 35 -1.18%; FER -3.61%; REP +2.40%; DX +0.39%; GC -2.08%; LCO +6.88%; CL +7.92%; AMA +1.75%; AENA -3.05%; CLNX -2.57%.