Indra ranks among the best in the Ibex 35 after announcing a strategic alliance with BOLD Technology to enhance its capabilities in energy storage and artificial intelligence. The market values the potential of the collaboration, although its impact will depend on its materialisation into concrete projects.
Indra leads the gains in the Ibex 35 in a session where the index is held back by the resistance of 20,000 points, awaiting the deluge of results that 16 of its companies will present in the next three days. The Spanish tech firm has announced a strategic alliance with the American BOLD Technology to strengthen its capabilities in energy storage and artificial intelligence, a move that the market receives with optimism.
The agreement, according to company sources, is part of Indra's technological and industrial growth strategy. The collaboration with BOLD Technology, specialised in energy storage solutions and AI systems, will allow the Spanish company to access new capabilities in a key sector for energy transition and digitalisation.
However, Indra has wanted to be cautious: the agreement does not guarantee immediate revenues. The real impact of the alliance will depend on translating it into concrete projects and commercial contracts in the coming months. The market, however, has positively valued the potential of the collaboration, boosting the stock price today.
On the opposite side of the index is Merlin Properties, which falls by 4.5% despite raising its annual recurring profit forecast from €327 million to €340 million, mainly supported by its data centre business. The first half of the real estate company's year has been solid, but the market punishes several factors: the strong dependence on asset revaluation, the sensitivity of valuation to interest rates, and the perception that the stock price had already factored in part of the improvement.
Telefónica also stands out in the session, with a rise of 2.2%, driven by the preliminary results of its Brazilian subsidiary Vivo. The operator has reported that Vivo increased its revenues by 7.6% and its net profit by 17% in the second quarter of 2026, thanks to growth in postpaid mobile, fibre, and digital services. Additionally, the company raised its EBITDA by 10.9% and strengthened its investments in 5G and fibre networks, consolidating its leadership in the Brazilian market.
Another piece of good news for Telefónica has come from the CNMC, which has approved in the first phase the purchase of the rural microwave link platform Lineox, previously owned by Asterion Industrial Partners. This operation consolidates the industrial alliance between both companies and will strengthen Telefónica's mobile connectivity infrastructure in rural areas, a key step to improving coverage in less populated regions.
In European markets, attention has focused on ASML, which has accumulated an 11.8% decline since the close of last week. The reason has been the announcement of the start of production of DUV lithography machines by a state-backed Chinese company, reigniting the debate over competition in the semiconductor industry. Although China is still far from competing with ASML's EUV technology, the development of its own lithography capabilities reinforces Beijing's strategy to build a semiconductor supply chain independent of the West.
In the commodities market, gold and silver have fallen by 1.2% and 2.2%, respectively, weighed down by the strength of the dollar and the anticipation of the Federal Reserve meeting. The market discounts that the Fed will maintain interest rates while seeking clues about the future tone of monetary policy. A stronger dollar makes gold more expensive for buyers in other currencies, which reduces global demand. Silver, on the other hand, having a more pronounced industrial component, reacts more strongly to fears of slower economic growth or reduced liquidity.
For investors, today's session leaves several key points. Indra's alliance with BOLD Technology opens a growth avenue in energy storage and AI, but the market will be attentive to the company's upcoming results to assess its real impact. In Merlin, the decline despite improved forecasts serves as a reminder of the importance of not overvaluing expectations that have already been factored in. And in Telefónica, the good data from Brazil and the approval of the Lineox purchase reinforce its growth profile in rural connectivity.
The next key date for the Ibex 35 will be the results presentations of the 16 companies in the coming days, which will determine whether the index can surpass the 20,000-point barrier.
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