Spanish Stocks Climb as IBEX 35 Sees Gains in Construction, Telecom, and Petrochemical Sectors

Spain's IBEX 35 closed 0.33% higher on Wednesday, led by robust performances in construction and telecom stocks. Sacyr SA rose nearly 2%, while Solaria Energia hit its lowest in three years.

Construction and Chemical Sectors Lead Spain's IBEX 35 Gains

Following Wednesday's finish, Spanish equities rose, with gains seen in the Chemical, Petroleum & Plastics and Building & Construction sectors driving the market higher.

There was a 0.33% increase in the IBEX 35 at the end of trading in Madrid.

At the end of the trading day on the IBEX 35, Sacyr SA had the greatest performance, rising 1.96%, or 0.06 points, to trade at 3.12, Investing.com shares. Late in the day, Ferrovial was up 1.20%, or 0.48 points, to 40.54 and Banco de Sabadell SA was up 1.64%, or 0.03 points, to 1.86.

Poor Performers Drag Down Energy Stocks

As the market closed at 23.72, Fluidra had the poorest performance of the session, down 0.92%, or 0.22 points. Banco Bilbao Vizcaya Argentaria SA fell 0.32%, or 0.03 points, to 9.27, while SOLARIA ENERGIA Y MEDIO AMBIENTE fell 0.37%, or 0.03 points, to 8.01.

On the Madrid Stock Exchange, the number of stocks that were falling was equal to the number of stocks that were rising by a ratio of 0 to 0.

Three-Year Low for Solaria Energia

With a decline of 0.37 percent, or 0.03, to 8.01, SOLARIA ENERGIA Y MEDIO AMBIENTE stock hit a three-year low.

Gold futures for February delivery remained constant at $2,633.50 per troy ounce, a move of 0.00%. On the commodities market, March Brent oil rose 1.24%, or 0.90 dollars, to trade at $73.22 per barrel, while February crude oil for delivery fell 0.09%, or 0.06 dollars, to $70.10 per barrel.

EUR/USD remained flat at 1.04, down 0.15%, and EUR/GBP remained flat at 0.83, down 0.16%.

With a price of 108.00, the US Dollar Index Futures experienced a gain of 0.18%.