The Spanish Stock Exchange has started the session this Tuesday with a new milestone. The IBEX 35 has surpassed for the first time in its history the barrier of 20,000 points, an unprecedented level for the main Spanish stock index, although minutes later it slightly moderated the gains and was trading at 19,992 points, with an advance of 0.05%.
The market thus prolongs the strong momentum with which it started August and keeps its eyes on a psychological level that it had never reached until now. The strength of construction companies, the good performance of several industrial stocks, and the optimism that dominates the main international stock exchanges continue to support the selective index, while some corporate movements cause strong differences between companies.
ACS, Ferrovial, and ArcelorMittal drive the IBEX towards a new record
Purchases are once again concentrated in companies linked to infrastructure and industry. ACS leads the gains among the large stocks with an advance of 1.81%, followed by Indra (+1.50%), ArcelorMittal (+1.29%), and Ferrovial (+1.26%).
Endesa (+0.71%), Sacyr (+0.69%), Merlin Properties (+0.68%), Colonial (+0.54%), and CaixaBank (+0.52%) also trade positively. Among the major banks, Banco Santander adds 0.29%, while Bankinter gains 0.31% and BBVA moves practically flat, with a slight decline of 0.16%.
Acciona collapses and weighs down the sector
The main focus of sales is on Acciona, which falls 6.49% after the Entrecanales Franco family completed the placement of 3% of the capital of the company through a transaction carried out at a discount to the market price.
The losses also affect Acciona Energía, which retreats 1.69%, as well as Inditex (-0.73%), Amadeus (-0.58%), Telefónica (-0.44%), and Logista (-0.27%). For its part, Repsol barely varies (+0.12%) after the sharp drop suffered by oil during Monday's session.
Oil, Wall Street, and U.S. data will mark the rest of the session
After the sharp correction of crude oil in the previous session, the barrel of Brent recovers part of the lost ground and is back around 85 dollars, while investors remain attentive to the talks between the United States and Iran and any news regarding the situation in the Middle East.
In addition, the market keeps its focus on Wall Street and on the upcoming U.S. employment data, references that could set the course of the stock markets in the coming days. Meanwhile, the IBEX 35 faces a historic day with the challenge of consolidating for the first time the level of 20,000 points, a level that symbolizes the excellent moment that the Spanish Stock Exchange is going through.