The Ibex 35 dropped 0.71% at midday, standing at 19,710.8 points, in a key week for international markets focused on macroeconomic data and corporate earnings.
The Spanish index Ibex 35 recorded a decline of 0.71% in the midday session on Monday, reaching 19,710.8 points. The index thus loses the level of 19,800 points, in a day when investors remain cautious due to the volatility of international markets.
Analysts expect a transitional week with tech rebounds
Analysts at Renta 4 have noted that “the market will continue to show volatility in the coming weeks, pending the publication of key macroeconomic data for the direction of monetary policies.” Meanwhile, experts from Bankinter have indicated that the week will be transitional, but rebounds driven by the technology and semiconductor sectors will be recorded.
Specifically, this week Samsung will publish its quarterly results, SK Hynix will begin trading in New York, and Space X will join the Nasdaq index. These movements could support European stock markets, although uncertainty regarding interest rates and inflation continues to weigh heavily.
The energy sector weighs on Ibex due to the 'ex-dividend' effect
Within the Ibex 35, the stocks that advanced the most were Indra (+2.68%), Amadeus (+1.84%), IAG (+1.83%), Banco Sabadell (+0.72%), and Mapfre (+0.63%). On the contrary, the largest declines were for Iberdrola (-3.26%), Acciona (-3.15%), Solaria (-2.79%), and Repsol (-2.73%), all affected by the 'ex-dividend' effect.
This effect occurs when a company distributes a dividend and its stock adjusts downwards by the same amount. In the case of Iberdrola and Repsol, the discount has been significant, dragging down the entire index.
European stock markets show mixed signs
The trend was mixed in the rest of the European markets. London also fell by 0.08%; however, Paris rose by 0.23%; Frankfurt by 0.26%; and Milan by 0.07%. The weakness in the energy sector and caution ahead of upcoming macro data weighed on investor sentiment.
On the national front, the Minister of Finance, Arcadi España, will meet on Monday with the Fiscal and Financial Policy Council (CPFF) and the National Commission for Local Administration to set the stability objectives for public administrations, in preparation for the drafting of the General State Budgets (PGE) for 2027. This meeting is crucial for defining the spending cap and deficit paths.
Oil falls and the euro depreciates slightly
In the commodities market, Brent crude fell by 0.50%, to $71.77, while West Texas Intermediate (WTI) stood at $68.44, down 0.36%. The drop in crude prices is due to uncertainty about global demand and expectations of abundant supply.
In the fixed income market, the yield on the Spanish 10-year sovereign bond fell to 3.406%, down from 3.420% at Friday's close. Thus, the risk premium remained at 48.5 basis points. The euro depreciated by 0.18% against the dollar, trading at an exchange rate of 1.1417 dollars per euro.
For individual investors, this day of declines serves as a reminder of the importance of diversifying portfolios and maintaining a medium-term outlook. The current volatility may create buying opportunities in sectors such as technology, which could rebound in the coming days. However, it is advisable to stay alert to the macro data published this week, especially those related to employment and inflation in the United States and the eurozone.
The session continues, and the Ibex 35 will try to recover the level of 19,800 points before the close. Investors will closely monitor the evolution of US futures and the references coming from Wall Street.
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