Ibex 35 drops 0.2% and moves away from 19,000 points, while European markets rise

The Spanish index is trading at 18,879 points, weighed down by Acciona, Endesa, and Solaria. The rest of the European markets are showing moderate gains, awaiting the NATO summit and the earnings season in the U.S.

The Ibex 35 has started the week with a slight decline of 0.2%, placing it at 18,879 points, after having surpassed 19,000 points on two occasions last week. The correction comes on a calm day in the markets, with the other European exchanges recording moderate advances.

Indra leads gains, Acciona plummets

On the gains side, Indra tops the rises with 3.7%, followed by Amadeus (+2.5%) and IAG (+2%). On the opposite end, Acciona falls by 2%, while Endesa and Solaria lose 1.9% and 1.3%, respectively.

The rest of the European markets are trading positively: London, Frankfurt, Paris, and Milan are up around 0.5%, while the pan-European Stoxx 600 adds 0.2% to reach 624 points.

Geopolitics and oil shape the week

Investors remain attentive to the negotiations between Iran and the United States regarding maritime traffic in the Strait of Hormuz, which continues to normalise. Additionally, this Tuesday marks the start of the NATO summit in Ankara, where Donald Trump will meet with Ukrainian President Volodymyr Zelensky.

On the macro front, the minutes from the last FED meeting, the first chaired by Kevin Warsh, will be published on Wednesday, and at the end of the week, the earnings season in the United States begins.

Oil continues to fall after OPEC+ agreement

Crude oil continues its downward trend after OPEC+ agreed over the weekend to increase production by 188,000 barrels per day starting in August, adding to the increases already planned for June and July. The brent barrel, a reference in Europe, drops more than 1% but remains above 71 dollars, while West Texas falls below the 70 dollar mark.

For the individual investor, the session leaves a bittersweet taste: the correction of the Ibex 35 is slight and occurs after a week of strong rises, so it could be a simple profit-taking. However, geopolitical uncertainty and the OPEC+ decision to increase production add volatility to the market. The corporate results that will be known starting this week will be key to confirming the trend.