Key Points
- Spain’s IBEX 35 index fell 0.29% on Wednesday. Losses led to the decline in the financial services and real estate sectors.
- Banco de Sabadell was the worst performer, dropping over 3%.
- Indra A was the day’s biggest winner, soaring nearly 7% to an all-time high.
- Rising stocks outnumbered declining ones, but the overall index still closed lower.
The Spanish stock market closed slightly lower on Wednesday, with the main IBEX 35 index falling 0.29%. The losses were driven by a downturn in the financial services, real estate, and consumer goods sectors, which offset a strong performance from some of the country’s industrial giants.
The banking sector had a particularly rough day. Banco de Sabadell was the worst performer on the index, dropping over 3%. Bankinter also fell more than 2.6%. The newly listed Puig Brands, a major player in the consumer goods space, also declined by about 3%.
Despite the overall negative trend, there were some bright spots. The technology and defense company Indra A was the day’s biggest winner, with its stock soaring nearly 7% to hit a new all-time high.
The steel giant ArcelorMittal also had a great session, gaining almost 5% to reach a five-year high. The construction company ACS ranked among the top performers, rising by more than 4% to its record high.
Even with these impressive individual gains, the broader market was weighed down by the financial sector’s struggles. Rising stocks did manage to outnumber declining ones on the Madrid Stock Exchange, but the losses in the big bank stocks were enough to pull the main index into the red.
In the global commodities market, both gold and oil prices fell. Gold futures dropped about 0.55%, while crude oil prices fell by more than 1.8%. The euro held steady against the U.S. dollar, and the US Dollar Index was mostly unchanged.
