Madrid Stocks Snap 6-Day Winning Streak

The IBEX 35 index fell more than 1% to close at 8,323 on Monday, halting six consecutive sessions of gains, on profit-taking and amid worries about the Chinese economy due to the worsening pandemic and rare protests against COVID-19 restrictions.

Meanwhile, traders remain cautious ahead of CPI data for the Eurozone due on Wednesday, while also waiting for a key US employment report on Friday, which will provide news on the outlook for the economy and inflation in the country, and consequently on the course of interest rates.

Several sectors closed in the red, with Fluidra (-3.5%), R.E.C (-2.6%), Solaria (-2.4%), Naturgy (-2.4%), Acciona Energia (-2%) and Repsol (-1.9%) posting the biggest losses.

In corporate news, Spain's Acciona announced plans to build a wind farm worth $1.34 billion in Australia, nearly doubling its investment and generation capacity at a site in the northeastern state of Queensland.