The Ibex 35 gained 0.32% this Friday, reaching 19,384.7 points, driven by the steel sector and expectations of dialogue between the United States and Iran.
The Spanish stock market closed the last session of the week with a 0.32% advance, buoyed by the surge in steelmakers and statements from US President Donald Trump, who opened the door to resuming peace negotiations with Iran. The Ibex 35 stood at 19,384.7 points, 61.9 points higher than Thursday.
With this rise, the index reduces its weekly decline to 2.36% and accumulates a 12% appreciation so far this year. The day began with a 0.5% increase and maintained a positive tone despite Trump warning that "the ceasefire is over" and that attacks in the Middle East could continue.
Steelmakers lead the gains
The steel sector was the big star of the day. ArcelorMittal surged 6.27% after JP Morgan upgraded its recommendation from 'underweight' to 'neutral' and raised its price target from 45 to 57 euros per share. This move by the US bank reflects a more optimistic view of the Luxembourg-based company, which is listed on the Ibex 35.
Acerinox followed with a 3.09% increase, also thanks to an upgrade from JP Morgan, which raised its price target by three euros. Cellnex completed the podium of gains with a rebound of 1.9% after two days of declines exceeding 2%.
On the opposite side, Indra plummeted 4.33% and marked four consecutive sessions in decline, weighed down by the performance of the European defence sector. The tech company was the laggard of the day, in a context where defence stocks suffered across Europe.
Mixed performance from major stocks and results on the horizon
The major stocks of the Ibex closed with mixed results. Among those that gained ground were BBVA (1.54%), Telefónica (1.44%) and Banco Santander (0.76%). In contrast, Inditex fell 0.79%, Iberdrola 0.76% and Repsol 0.47%.
Investor attention is now focused on the start of the earnings season, which will set the course for the upcoming sessions. The performance of tech stocks in other markets also remains a key factor influencing overall market sentiment.
For individual investors, the session leaves a relevant piece of information: the Ibex 35 maintains a positive return of 12% for the year, although volatility remains high. Those with positions in steelmakers have had a good day, but it is advisable to monitor the evolution of analysts' recommendations and the quarterly results that will be published in the coming weeks.
The next key date will be Monday's opening, when new macroeconomic data and possible updates on US-Iran negotiations will be revealed. For now, the Spanish market closes the week with a bittersweet taste: daily rise, but weekly decline.
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