The IBEX 35 opened the Monday session without major changes, aligning with European markets in a subdued global market following holidays in China, Japan, and the UK.
Investors remained attentive to the geopolitical situation, awaiting negotiations between the United States and Iran, along with Washington’s plan to escort ships stationed in the Strait of Hormuz.
Donald Trump provided few details on the assistance mechanism for ships and crews ‘trapped’ in this vital maritime route, as food and other supplies dwindle.
The conflict between the United States and Iran, lasting over two months, has blocked the waterway and driven oil prices above $100 a barrel, amidst uncertainty regarding the crisis resolution.
According to Bankinter analysts, the current scenario reflects a technical rebound as investors assess encouraging figures and forecasts from Apple, as well as the US decision to increase tariffs on European cars from 15% to 25%.
‘Today’s trend is a rebound, with a market accustomed to more expensive oil and a strained geopolitical situation,’ analysts noted on their Telegram channel.
On the macroeconomic front, markets will monitor US job data this week – JOLTS on Tuesday, ADP on Wednesday, and the official report on Friday – as well as the University of Michigan consumer confidence and PMI indices for services in China and the eurozone on Wednesday.
Investors will also focus on corporate results, especially those of AMD, McDonald’s, Unicredit, Philips, and BMW. In Spain, Sabadell and Unicaja will release their accounts on Tuesday, followed by Ferrovial on Thursday and IAG on Friday.
At 07:21 GMT, the main Spanish stock market index, the IBEX 35, fell by 18.80 points, or 0.11%, to 17,762.20 points, while the FTSE Eurofirst 300 index of major European values rose by 0.01%.
In the banking sector, Santander was down 0.15%, BBVA dropped by 0.96%, Caixabank slipped 0.28%, Sabadell gained 1.30%, Bankinter declined by 0.18%, and Unicaja Banco remained unchanged.
Among the major non-financial companies, Telefónica decreased by 0.05%, Inditex rose by 0.12%, Iberdrola dropped by 0.58%, Cellnex fell by 0.14%, and the oil company Repsol lost 1.84%.
(Source: Information by Benjamín Mejías Valencia; edited by Jorge Ollero Castela)
