IBEX 35 Loses Psychological Level of 11,000

The IBEX 35 dropped to 10,990 on Tuesday, losing the psychological level of 11,000 and tracking the negative sentiment of its European peers, as strong economic data from the US, including factory orders and job openings, cast doubts on the start of Fed's monetary easing.

Domestically, Spain's factory activity expanded for the second month.

On the corporate front, the largest declines were recorded by Cellnex Telecom (-4%), Real Estate (-3.4%), Ferrovial (-3%), and Melia Hotels (-2.9%).

Also, blue-chip Inditex lost 1.7%.

In contrast, Repsol (2.7%), CaixaBank (1.9%), Bankinter (1.8%), and Laboratorios Farma (1.7%) rose.

Repsol was buoyed by the potential agreement on the purchase of the Spanish group Ibereólica in Chile, while Laboratorios Farma advanced after the FDA authorized its drug Risvan in the treatment of schizophrenia.