The Ibex 35 closed down 0.25% this Monday, at 19,335.7 points, pressured by rising crude prices following the closure of the Hormuz Strait due to tensions between the United States and Iran.
The Ibex 35 fell by 0.25% this Monday, settling at 19,335.7 points, weighed down by the sharp rise in oil prices. Brent crude rose by 4.62%, reaching $79.52, while West Texas Intermediate increased by 4.59%, to $74.69. The cause: Iran's closure of the Hormuz Strait following weekend attacks between the United States and Iran.
The Spanish index spent most of the session around 19,400 points, but the lower opening of Wall Street and declines in banking and tourism stocks tipped the scales. In Europe, major markets closed with slight gains: Milan rose by 0.37%; Paris, 0.31%; Frankfurt, 0.19%; and London, 0.01%.
Oil and gas drive up energy costs
The increase in crude prices has been the dominant factor. Brent has surpassed $79, reaching several-week highs, and natural gas in the Dutch TTF market has surged by 6.04%, to €51.32 per megawatt hour. This escalation responds to fears of a supply disruption in one of the world's most strategic maritime routes, through which nearly 20% of global crude flows.
The President of the United States, Donald Trump, has denied that the strait is closed and has offered the United States as a "guardian" of the area, in exchange for compensation. However, the market has priced in the geopolitical risk and raised energy prices.
Repsol leads gains, banking and tourism suffer
In the Ibex, Repsol has been the top performer, rising by 4.05%, directly benefiting from the increase in crude prices. It was followed by Telefónica, which rose by 2.55% due to potential layoffs in Germany. Iberdrola gained 1.15% and Acerinox 2.31%.
In contrast, major banks closed in the red: Banco Santander fell by 1.05%; BBVA by 0.4%; and Inditex by 0.29%. Tourism stocks also suffered: IAG lost 2.21% and Amadeus 1.58%. Rovi, trading ex-dividend, led the losses with a drop of 2.95%.
In the continuous market, Arteche plummeted by 5.67%, while OHL rose by 4.58%.
Debt and commodities in motion
The yield on the Spanish 10-year bond rose by 5.6 basis points, to 3.562%, and the risk premium over Germany ended at 45.7 basis points. Gold lost 2.54%, down to $4,015.5 per ounce, and silver dropped 3.02%, to $58.06. Bitcoin fell by 2.36%, to $62,648.6.
For investors, the day leaves a clear lesson: geopolitics remains the main driver of volatility. Those exposed to energy stocks have benefited; those betting on banking or tourism have suffered. The evolution of crude prices and tensions in the Middle East will mark the upcoming sessions.
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