The IBEX 35 opened Monday’s session without major changes, aligning with European markets in quiet global markets following holidays in China, Japan, and the UK.
Investors remained cautious about the geopolitical situation, awaiting negotiations between the United States and Iran, and Washington’s plan to escort ships stationed in the Strait of Hormuz.
Donald Trump provided few details on the assistance for ships and crews trapped in this vital maritime route as food and other supplies dwindle.
The conflict between the United States and Iran has blocked the waterway for over two months, pushing oil prices above $100 per barrel amid uncertainties about the crisis resolution.
According to analysts at Bankinter, the current outlook reflects a technical rebound as investors also digest Apple’s positive figures and forecasts, along with the US decision to raise tariffs on European cars from 15% to 25%.
‘Today’s trend is rebound, with a market now accustomed to pricier oil and ongoing geopolitical tension,’ analysts stated on their Telegram channel.
Economically, markets will monitor US job data this week—JOLTS on Tuesday, ADP on Wednesday, and the official report on Friday—as well as consumer confidence at the University of Michigan and PMI indices for services in China and the eurozone on Wednesday.
Investors will also watch for earnings reports, including those from 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, Spain’s main stock index, the IBEX 35, dropped 18.80 points, or 0.11%, to 17,762.20 points, while the FTSE Eurofirst 300 index of major European stocks rose by 0.01%.
In the banking sector, Santander fell 0.15%, BBVA declined by 0.96%, Caixabank dropped 0.28%, Sabadell gained 1.30%, Bankinter fell 0.18%, and Unicaja Banco remained unchanged.
Among non-financial giants, Telefónica declined by 0.05%, Inditex rose by 0.12%, Iberdrola fell by 0.58%, Cellnex dropped by 0.14%, and the oil company Repsol lost 1.84%.
(Information from Benjamin Mejías Valencia; editing by Jorge Ollero Castela)
