The Spanish index opens with a modest advance of 0.3%, reaching 19,332 points, while Brent falls to $84 and Digi Spain Telecom begins trading with a valuation of €1.662 billion.
The IBEX 35 has started Thursday's session with a slight rebound of 0.3%, standing at 19,332 points, on a day marked by the easing of oil prices and attention on the stock market debut of Digi Spain Telecom. The Spanish index manages to distance itself from the sharp declines recorded in Asia, where the South Korean Kospi has plummeted by 6.4% due to the punishment of the technology sector.
Oil moderates and eases pressure
One of the key factors supporting European stock markets is the halt in the rise of crude oil. The barrel of Brent is trading with slight cuts, around $84, which reduces one of the main concerns for investors. The respite in oil prices comes at a time of maximum geopolitical tension in the Middle East.
According to analysts at Link Securities, "investors' attention will remain focused on the developments in the Middle East and the news coming from the region." Several U.S. officials have indicated that Donald Trump is leaning towards expanding military operations in Iran, which increases uncertainty and leads investors to maintain a cautious attitude.
Among the options being considered are the intensification of airstrikes, the deployment of ground forces to seize Iranian islands near the Strait of Hormuz, and the bombing of a fortified base that could be used for covert nuclear activities. All of this, according to Link Securities, "will likely lead investors to maintain a cautious attitude, while some choose to take profits."
Digi Spain Telecom lands on the stock market
The big news on the Spanish stock market is the debut of Digi Spain Telecom, which begins trading this Thursday with a valuation of €1.662 billion. The Romanian telecom company does so with an outstanding debt of €80 million to Masorange, related to the purchase of mobile spectrum that allowed it to become one of the operators with its own network in Spain.
The company has designed a long-term growth strategy and has announced that it does not plan to distribute dividends before 2030. For investors interested in the telecommunications sector, Digi's entry represents a new investment option, although with a high-risk profile and no immediate return from dividends.
IBEX values: Cellnex and Telefónica fall, Acerinox and ACS rise
Within the IBEX 35, the biggest declines are for Cellnex and Telefónica, both down 0.7%. They are followed by Repsol, Iberdrola, and Acciona Energía with more moderate declines. On the upside, Acerinox and ACS stand out, advancing 1.6%, while Indra adds 1.5%, ArcelorMittal 1.2%, and BBVA 0.9%.
Among the large stocks, Santander records a rise of 0.7% and helps to support the index, but Inditex continues to decline, losing 0.2%. The mixed performance reflects widespread caution, although the respite from oil and contained inflation data in the U.S. provide some support.
The Beige Book from the Federal Reserve has confirmed that inflationary pressures increased at the same rate or less in all districts during the last period between meetings, reinforcing the expectation that the Fed is in no hurry to tighten its monetary policy. For investors, this means a more stable interest rate environment in the short term, benefiting sectors such as banking and utilities.
Thursday's session leaves a bittersweet taste: the rebound of the IBEX 35 is fragile and largely depends on the evolution of oil prices and news from Iran. Those looking for long-term opportunities may consider Digi's debut, although with patience, as dividends will not arrive for at least six years.
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