HSBC backs Repsol after 100% YTD rally; oil major outperforms Ibex

HSBC analysts issue a supportive note on Repsol, the best performer in Spain's Ibex index, which has risen over 100% since January. The endorsement comes amid a strong energy sector rally, though the note's specifics are not detailed. This signals continued bullish sentiment for the stock, but the sustainability of the rally depends on oil prices and refining margins.