Spanish stocks close flat after volatile session driven by Hormuz concerns

Spain's stock market experienced a volatile session on Monday, ultimately closing almost unchanged. The main index, IBEX 35, registered a minimal loss of 0.01%, settling at 20,173 points. Despite the slight dip, the index has accumulated a 16.55% gain year-to-date.

The day's trading was significantly influenced by geopolitical tensions and their impact on oil prices. Concerns over the potential disruption of shipping lanes through the Strait of Hormuz led to a rise in crude oil prices, creating uncertainty in the market.

Earlier in the session, the IBEX 35 opened with losses and continued to decline without a clear trend. However, around midday, the index reversed course, reaching an intraday record high of 20,326.7 points. This surge was short-lived, as the market lost momentum in the latter part of the session, resulting in a flat close.

Among the major listed companies, Repsol saw a notable increase of 1.82%, driven by the rising oil prices. Inditex gained 0.75%, and BBVA rose by 0.41%. Conversely, Telefónica fell 0.95%, Iberdrola was down 0.7%, and Banco Santander experienced a slight decrease of 0.05%.