Spanish Stock Market Rises 0.45%, IBEX 35 Extends Second-Longest Winning Streak of the Year
Introduction
Spain’s IBEX 35 index closed up 0.45% on Thursday at 13,945.10 points, rising for the sixth consecutive trading session and setting its second-longest winning streak of the year. The index gained 61.90 points on the day, with a similar six-day rally previously occurring only in July. This performance, cross-verified by multiple media outlets, reflects positive short-term market momentum.
Index Performance and Historical Comparison
The IBEX 35 index climbed steadily during Thursday’s session, ultimately closing with a 0.45% gain, adding 61.90 points to finish at 13,945.10. According to 20minutos.es, this is the second time the index has risen for six consecutive days this year, with the last instance occurring in July. At that time, the market was also boosted by positive economic data and corporate earnings expectations. Spanish financial media outlets such as El Economista and Expansion confirmed these figures, noting that the index touched the 14,000-point mark during the day before pulling back slightly at the close.
Sector Rotation and Leading Stocks
The banking and energy sectors were the main drivers of the day’s gains. Santander’s shares rose 1.2% and BBVA climbed 1.1%, leading a broad rally in financial stocks. Among energy stocks, Repsol gained 0.8% and Iberdrola edged up 0.5%. Telecom stocks were relatively stable, while utilities saw a slight dip of 0.2%. According to Cinco Días, overall trading volume increased by 15% from the previous day to €4.5 billion, indicating higher investor participation. The European Stoxx 600 index also rose by 0.3% during the same period, providing regional support for the IBEX 35.
Market Context and External Factors
This winning streak comes as the European Central Bank holds interest rates steady, with markets now focusing on upcoming Eurozone inflation data and the U.S. non-farm payrolls report. 20minutos.es pointed out that recent better-than-expected PMI data for the Spanish economy has boosted stock market confidence. In comparison, the Dow Jones Industrial Average fell slightly by 0.1% on the day, while the Nasdaq Composite rose 0.4%. Analysts note that the IBEX 35 has gained 12% year-to-date, making it one of the top-performing major European indices.
Short-Term Outlook
In the short term, the market will focus on the corporate earnings season. Blue-chip companies like Inditex and Telefonica are scheduled to release their third-quarter results next week. El Mundo reports that from a technical perspective, the IBEX 35 is holding support below the 14,000-point level; a breakout could lead to a test of its yearly high. Investors should remain mindful of geopolitical risks and the impact of oil price volatility on energy stocks.
