The market moved higher to start March, with the benchmark rising about 0.2 percent as the selector surpassed the 9,400 level in a session that continued to show solid business results.
After ending Tuesday at 9,394 points, the Madrid index began Wednesday with a reading of 9,416. European stock markets in general opened the day with gains, reflecting a positive trend across major indices.
In the early minutes of Wednesday, Indra stood out with a notable gain. Following Tuesday’s close, the stock climbed more than 3.5 percent, trading around 12.36 euros per share. By 9:10 p.m., Indra reported a net profit of 172 million euros for the year, representing roughly a 20 percent increase from 2022, with further improvements anticipated. The company also announced a dividend increase to 0.25 euros, up from 0.15 euros the previous year. Alongside Indra, gains were seen in ArcelorMittal, up about 2.8 percent, Amadeus advancing around 2.1 percent, Repsol up about 1.5 percent, and Meliá rising roughly 0.8 percent.
On the downside, Acerinox and Colonial posted declines after their 2022 results were disclosed at Monday’s close, each down nearly 4 percent. Acerinox reported a net profit of 556 million euros for last year, about 2.7 percent lower than in 2021, while Colonial’s profit jumped to 8 million euros due to the accounting impact of changes in asset value associated with diminished assets.
Major European markets opened higher on Wednesday as well, with Paris, London, and Frankfurt up around 0.2 percent and Milan up about 0.3 percent.
At the session’s start, Brent crude rose to 83.87 dollars per barrel, up 0.5 percent, while Texas Intermediate traded near 77.45 dollars, also up 0.5 percent. In the currency market, the euro stood at about 1.0642 against the dollar, while in debt markets the yield on the 10-year government bond moved up to around 3.737 percent.