The Ibex 35 recovers 19,500 points and aims for 19,600 after a 1.05% rise in the mid-session on Wednesday. The price of Brent crude exceeds $95 due to rising tensions in the Middle East.
At 12:00 on Wednesday, the Ibex 35 was trading at 19,585 points, up 1.05% from the previous close. The Spanish index thus recovers the level of 19,500 points and approaches the psychological barrier of 19,600, driven by the rise in oil prices and the publication of corporate earnings for the first half of the year.
The Brent crude barrel, a European benchmark, surged 4.8% to $95.4, its highest price since June 11. Meanwhile, the West Texas Intermediate (WTI) surpassed $88.5 after a 5% increase. This surge is attributed to the escalation of the conflict in the Middle East.
The United States completed its eleventh consecutive night of attacks against Iran, according to a statement from Central Command (CENTCOM). The offensive aims, officially, to "further weaken Iran's ability to threaten commercial maritime transport in the Strait of Hormuz."
In response, Iran claimed on Wednesday to have carried out a drone strike against a U.S. garrison in western Kuwait, as well as another attack in Bahrain against an Amazon facility described as the "digital eye" of CENTCOM. The Tasnim agency, linked to the Revolutionary Guard, released a statement from the Iranian military claiming to have attacked "ammunition depots and the command center of U.S. Army ground forces."
Investors are also focusing on the European Central Bank (ECB) monetary policy meeting this Thursday. Josefina Rodríguez, an economist at Vanguard, noted that the ECB is expected to keep rates unchanged: "Since the June meeting, inflation has been below expectations, while activity indicators suggest that growth may be bottoming out." The entity will reaffirm its data-driven approach, although it leaves the door open for further rate hikes at the end of the year.
On the corporate front, Iberdrola reported a net profit of €4,336.4 million in the first half, 21.7% more than in the same period last year, boosted by a net gain of €953.3 million from the sale of its business in Mexico to Cox. Naturgy reported a profit of €1,215 million, up 6%, and improved its forecasts for 2026, aiming for record earnings exceeding €2,100 million. Enagás, on the other hand, recorded a profit of €126.9 million, down 27.9%, weighed down by the absence of last year's capital gains. Banco Santander earned €7,328 million in the half-year, a 14.9% increase.
Within the Ibex 35, the biggest gainers in the mid-session were Naturgy, up 4.42%, followed by Mapfre (+2.09%), Repsol (+1.97%), Enagás (+1.88%) and Cellnex (+1.69%). On the negative side, only seven stocks were in the red: Rovi (-0.55%), IAG (-0.39%), Grifols (-0.36%), ACS (-0.34%), ArcelorMittal (-0.32%), Logista (-0.23%) and Iberdrola (-0.14%).
The main European stock exchanges also showed positive signs: London's FTSE 100 rose 1.15%; France's CAC 40, 0.88%; Italy's FTSE Mib, 0.83%; and Germany's DAX 30, 0.65%.
In the fixed income market, the yield on the Spanish 10-year bond rose to 3.639%, with the risk premium at 46.12 basis points. The euro advanced 0.07% against the dollar, reaching 1.1406 units.
For investors, the surge in oil prices and geopolitical tensions add uncertainty to a market already digesting half-year results. Attention now turns to the ECB's decision this Thursday and the evolution of the conflict in the Middle East, which could continue to push energy prices higher.
You may also like
