The Spanish stock market started Wednesday's session with declines, mainly affected by the sharp drop in Inditex shares, which fell more than 3%. Despite the textile company achieving record profits, the shares suffered significant selling pressure.
The Ibex 35 index fell 1.01% in the early moments of trading, settling at 19,794.6 points. With this decline, year-to-date gains were reduced to 14.43%.
Inditex, owner of brands such as Zara and Massimo Dutti, continues to be one of the most relevant companies in the Spanish market, being one of the main weights in the calculation of the Ibex 35, which explains the drag effect on the index when its shares fall.
