The Madrid selective index rises by 1.1% at the opening, reaching 19,795.30 points, while Brent crude falls by 6.8% to $90.2 after the exchange of messages between Washington and Tehran.
The Ibex 35 has started this Monday's session with a 1.1% increase, bringing it close to 19,800 points, specifically to 19,795.30 points. The main index of the Spanish stock market is benefiting from a more relaxed geopolitical context, after Iran confirmed an exchange of messages with the United States.
The spokesperson for the Iranian Foreign Ministry, Esmail Baqaei, has acknowledged that both parties are in contact, although he clarified that Tehran's priority remains defending its sovereignty and territorial integrity against what it describes as US war crimes. These statements have been enough for the market to interpret a possible de-escalation in tensions between the two countries.
The most immediate effect has been seen in crude oil prices. The Brent barrel, a reference in Europe, has fallen by 6.8% and is trading at $90.2, while the US West Texas Intermediate (WTI) stands at $83.6 after a 6.5% drop. This decrease in oil prices alleviates inflationary pressures and provides relief to energy-importing economies, such as Spain.
Within the Ibex, the energy sector has been the hardest hit by the drop in crude oil prices. Repsol has led the losses with a 2.9% decline, followed by Naturgy (-1.4%) and Acerinox (-0.4%). On the upside, the biggest gainers have been IAG (+4%), Grifols (+2.2%) and Inditex (+2%). The airline IAG has particularly benefited from lower fuel costs, one of its main operating expenses.
The day has also been marked by the publication of corporate results. Línea Directa has announced a net profit of €52.09 million in the first half of the year, representing a 19% increase compared to the same period in 2025. The insurer has improved its accounts thanks to premium growth and control of claims.
Acciona Energía has reported the sale of a 361 megawatt (MW) wind portfolio in Spain to the Portuguese company Galp for €432 million, with no financial debt involved. This operation reinforces the company's asset rotation strategy and provides liquidity for new investments in renewables.
For its part, Sabadell has launched a share buyback programme this Monday for a maximum amount of €331 million. The entity plans to retain the shares in treasury for subsequent cancellation via capital reduction, a measure aimed at rewarding shareholders and improving profitability ratios.
In the rest of Europe, stock markets have also opened positively. London's FTSE 100 is up 0.5%, Frankfurt's DAX has risen 1.4%, and Paris's CAC 40 has gained 0.9%. Optimism has spread across European markets, buoyed by the truce in oil prices and expectations that the US Federal Reserve may moderate its pace of interest rate hikes if inflation continues to ease.
In the fixed income market, the yield on the Spanish 10-year bond has fallen by 1.2% to 3.6%. The drop in oil prices reduces inflation expectations and, consequently, the risk premiums of peripheral bonds. In the currency market, the euro has appreciated against the dollar, trading at an exchange rate of $1.1407, supported by improved confidence in the eurozone.
For investors, the key to the session lies in the evolution of crude oil prices and the conversations between the US and Iran. If the détente consolidates, oil could continue to fall, benefiting sectors such as air transport and companies with high energy consumption, while oil companies may face further declines. Corporate results and Sabadell's share buyback add appeal to Spanish equities at a time of high interest rates but with signs of moderation.
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