Spanish Stocks Fall, IBEX 35 Index Slips 1.12 Percent

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NUSADAILY.COM -MADRID- Spanish stocks closed down sharply in late trading Friday (26/2/2021), turning weaker following a three-day gain in a row, with the benchmark IBEX 35 index on the Madrid Stock Exchange slipping 1.12 percent, or 92.80 points, to settle at 8,225.00 points.

The IBEX 35 index gained 0.58 percent or 48.20 points to 8,317.80 points on Thursday (25/2/2021), after rising 0.21 percent or 17.50 points to 8,269, 60 points on Wednesday (24/2/2021) and jumped 1.72 percent or 139.90 points to 8,252.10 points on Tuesday (23/2/2021).

Of the 35 stocks of selected major companies included in the IBEX 35 index component, only six made a profit, while 29 others suffered losses.

Grifols SA, a Spanish multinational pharmaceutical and chemical manufacturer, suffered the biggest loss (top loser) among leading stocks or blue chips, with its share value plummeting 5.02 percent.

It was followed by shares of the world’s largest steel company ArcelorMittal SA which trimmed 4.28 percent, and Spanish information technology and defense systems company Indra Sistemas SA slumped 4.02 percent.

On the other hand, Cellnex Telecom SA, a Spanish wireless telecommunications infrastructure and services company, managed to pocket the most profit (top gainer) among leading stocks, with its share price soaring 5.65 percent.

It was followed by shares of cellulose, collagen and plastic artificial casing manufacturers for use in viscofan SA’s meat industry, which grew 2.92 percent, and the parent company of British-Spanish multinational airline International Consolidated Airlines Group SA added 2.86 percent. (sak)