The Ibex-35 has started the session with a slight correction of 0.30%, down to 19,794 points, after reaching intraday highs of 19,879 points on Friday. Iberdrola and Repsol are dragging the index down due to the dividend adjustment.
The Ibex-35 has kicked off the week with a minor correction that has caused it to lose the 19,800 point mark, after closing on Friday close to historical highs. The Spanish selective index has dropped by 0.30% in the early stages of the day, now standing at 19,794 points. However, the losses are moderate, and the index remains close to the 19,852.4 points with which it closed last week, when it reached 19,879.1 points intraday.
Iberdrola and Repsol penalised by dividend adjustment
The most significant declines of the day are led by Iberdrola and Repsol, which are registering drops of over 2%. This behaviour is due to the dividend adjustment, a common practice on sessions when companies begin trading without the right to receive the dividend. Without this effect, the utility company would have fallen by 0.66% and the oil company by 0.23%. The correction of these two major stocks accounts for a significant part of the index's decline.
On the gains side, Amadeus leads the advances with an increase of 1.88%, followed by IAG, which appreciates by 1.76%. Both companies benefit from the recovery in tourism demand and the positive outlook for the sector. Among the large stocks, Inditex gains 0.28%, Santander advances 0.56%, and BBVA rises 0.84%. This positive performance from the major banks and the textile giant helps to limit the index's declines.
Conversely, ACS falls by 1.69% and Solaria drops by 1.48%. These declines, along with those of Iberdrola and Repsol, explain the correction of the selective index. The energy sector, which had performed positively in recent weeks, is experiencing a moderate correction today, in line with the general market trend.
European markets open mixed awaiting references
The behaviour of the Spanish stock market has occurred in line with the general trend of European markets, which have opened the session mixed. Frankfurt is down 0.16%, while London rises 0.01%, Paris 0.04%, and Milan 0.36%. Caution has prevailed after several European markets closed at highs last week. The lack of clear references and the absence of relevant news have led investors to remain on standby.
The crude oil market remains stable after OPEC agreed on Sunday to a new increase in production targets of 188,000 barrels per day starting in August. Brent, the European benchmark, is trading with a slight drop of 0.08%, down to $72.06 per barrel. West Texas Intermediate, the US benchmark, rises by 0.06%, up to $68.86. The OPEC agreement, which aims to balance supply and demand, has been well received by the markets.
Asian markets closed the session with moderate movements. The South Korean Kospi has dropped by 0.46%, while Tokyo's Nikkei has fallen by 0.02%. In contrast, Hong Kong's Hang Seng has risen by 0.82% and the Shanghai stock exchange by 0.01%. The market remains attentive to negotiations between the United States and Iran, which could have implications for oil prices and the geopolitical stability of the region.
For investors, this correction represents an opportunity to take positions in lagging stocks, such as banks, which are showing good performance today. The Ibex-35 has accumulated a revaluation of 14.36% so far this year, reflecting market confidence in the economic recovery. Today's session, without major surprises, invites calm and waiting for new news that will set the trend for the coming days.
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