Spain's equity market finished the trading day in negative territory on Thursday, with the IBEX 35 registering a 0.99% decline at the close in Madrid. Sector pressure came predominantly from Building & Construction, Consumer Services and the Chemical, Petroleum & Plastic industries, which collectively contributed to the downward momentum.
The session's top performers on the IBEX 35 included Repsol (BME:REP), which climbed 2.98% - an increase of 0.52 points - to finish at 18.16. Merlin Properties SA (BME:MRL) advanced 1.54%, or 0.21 points, closing the day at 13.83, while Caixabank SA (BME:CABK) added 1.37% - a 0.14-point rise - to end at 10.70.
At the other end of the board, SOLARIA ENERGIA Y MEDIO AMBIENTE (BME:SLRS) led declines, dropping 3.40% or 0.66 points to 18.75 at the close. Endesa SA (BME:ELE) fell 3.31%, down 1.08 points to 31.55, and Corporacion Acciona Energias Renovables SA (BME:ANE) declined 3.24%, or 0.72 points, finishing at 21.52.
Market breadth was tilted toward losers: 130 stocks fell on the Madrid Stock Exchange versus 64 advancers, and 13 issues finished unchanged.
Two individual stock milestones were noted within the session. Repsol's shares reached five-year highs, finishing up 2.98% at 18.16. Merlin Properties rose to all-time highs, closing up 1.54% at 13.83.
Commodities showed modest strength during the trading day. Gold Futures for April delivery were up 0.16%, rising by 7.81 to $5,017.31 a troy ounce. Crude oil for April delivery increased 2.46% or 1.60 to trade at $66.65 a barrel, while the April Brent contract rose 2.17% or 1.53 to $71.88 a barrel.
In currency markets, EUR/USD moved 0.20% to 1.18 and EUR/GBP shifted 0.16% to 0.87. The US Dollar Index Futures was firmer, up 0.23% at 97.85.
Market context
The decline in the IBEX 35 was broad-based, with building, consumer services and chemical-related names acting as primary drags. Despite the overall market fall, selected energy and financial stocks registered gains, underscoring a differentiated performance across sectors.
What to watch
- Energy and utilities: mixed performance with major moves in both directions among large-cap names.
- Real estate and banking: Merlin Properties and Caixabank among the leading gainers despite the broader market weakness.
- Commodities and FX: modest increases in oil and gold alongside a slightly stronger US dollar futures reading.