Spain's IBEX 35 Jumps 1.65% to Close Week, Led by Financials and Acerinox Surge

Spain's benchmark stock index, the IBEX 35, finished the trading week on a high note, closing up 1.65% on Friday. The gains were broad-based, with rising stocks significantly outnumbering decliners on the Madrid Stock Exchange.

Broad-Based Gains Lift Madrid

The rally was primarily led by strength in the Financial Services & Real Estate, Consumer Services, and Consumer Goods sectors, according to data from Investing.com. Market sentiment was positive, with 131 stocks advancing compared to just 54 declining issues, while 21 ended the session unchanged.

Standout Performers

The session's top performer on the IBEX 35 was stainless steel manufacturer Acerinox (BME:ACX), which saw its shares soar 10.70% to close at 18.21, a new five-year high. Other notable gainers included financial institutions:

• Banco de Sabadell SA (BME:SABE) added 3.44%.
• Unicaja Banco SA (BME:UNI) rose 3.19%, reaching an all-time high.

Ad

On the downside, insurer Mapfre (BME:MAP) was the biggest laggard, falling 4.85%. It was followed by technology and defense firm Indra A (BME:IDR), which declined 2.49%, and energy company Repsol (BME:REP), which shed 2.23%.

Commodity and Currency Markets

The positive performance in Spanish equities contrasted with a sharp downturn in energy markets. Crude oil futures for September delivery fell 4.14% to $88.37 a barrel, while the Brent oil contract dropped 4.62% to $96.04 a barrel.

In other markets, Gold Futures for August delivery posted a modest gain of 0.72%. The currency markets were relatively stable, with the EUR/USD and EUR/GBP pairs showing minimal changes, while the US Dollar Index Futures edged down 0.10% to 101.18.