DistantNews
Support us
Spanish stocks hit fourth straight record high near 20,200 points
🇵🇾 Paraguay /Economy & Trade

Spanish stocks hit fourth straight record high near 20,200 points

From ABC Color · () Spanish

Translated from Spanish, summarized and contextualized by DistantNews.

At a glance

Newswire From a news agency New plan
  • The IBEX 35, Spain's main stock index, rose 0.62% on Thursday, reaching its fourth consecutive all-time high near 20,200 points.
  • The index gained 123.4 points to close at 20,180.4, extending its year-to-date gains to 16.6% with four consecutive records in August.
  • Despite Wall Street's uncertainty and a lack of news on the Ormuz Strait agreement, the Spanish market showed strength, led by Cellnex, Acciona's energy subsidiary, and Telefónica.

Spain's benchmark stock index, the IBEX 35, continued its upward trajectory on Thursday, marking its fourth consecutive day of record-breaking performance. The index climbed 0.62%, adding 123.4 points to settle at 20,180.4, bringing its year-to-date gains to an impressive 16.6% within the first week of August.

The market opened strong and reached intraday highs, briefly touching 20,326.7 points. While it lost some momentum in the final trading minutes, it managed to maintain its gains. This resilience was notable given the uncertainty observed in Wall Street and the absence of new developments regarding the anticipated agreement to reopen the Strait of Hormuz, a factor that had previously buoyed global markets.

Among the top performers, telecommunications infrastructure company Cellnex saw a significant jump of 3.59%. Acciona's energy subsidiary followed with a 2.98% increase, and telecommunications firm Telefónica gained 2.27%. Conversely, travel technology company Amadeus led the decliners, dropping 1.88%. Steel companies Acerinox and Arcelormittal also experienced losses, falling 1.41% and 1.27% respectively.

DistantNews Editorial

Originally published by ABC Color in Spanish. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

More Stories

From Our Blog