The Ibex 35 has started this Wednesday's session with a drop of 0.5%, standing at 19,282.50 points, weighed down by the rising cost of oil, which exceeds $93 per barrel of Brent. Investors remain focused on corporate earnings and tensions in the Middle East.
The Madrid Stock Exchange began Wednesday's session with a negative sign. The Ibex 35 was down 0.5% in the early stages of trading, reaching 19,282.50 points, in a context marked by the surge in oil prices and the publication of significant corporate earnings.
After the first few minutes, the index reduced its losses to 0.19% and regained the level of 19,300 points, reaching 19,344.2 points. Nevertheless, uncertainty remains among investors, who are closely watching the evolution of oil prices and geopolitical tensions in the Middle East.
The Brent barrel, a reference in Europe, remained above $93, its highest level since June 11, after rising 2.3%. Meanwhile, West Texas Intermediate (WTI) surpassed $86.3, also with an increase of 2.3%.
On the corporate front, several companies in the Ibex have presented their semi-annual accounts. Iberdrola reported a net profit of €4,336.4 million in the first half, 21.7% more than in the same period last year. This result includes a net gain of €953.3 million from the sale of its business in Mexico to Cox.
Naturgy, on the other hand, achieved a net profit of €1,215 million in the semester, 6% more, and improved its forecasts for 2026, aiming for record earnings of over €2,100 million in the fiscal year.
Enagás, however, recorded a net profit of €126.9 million in the first half, 27.9% less than the €176 million in the same period of 2025, when it had gains from the sales of Soto la Marina and the fair value adjustment of the South Peru Pipeline.
In the financial sector, Banco Santander reported a net profit of €7,328 million in the first half of 2026, representing a 14.9% increase compared to the same period last year.
At the start of the session, the biggest gainers in the Ibex 35 were Naturgy, with a rise of 0.8%, and Bankinter, with an increase of 0.7%. On the contrary, the largest declines were for Iberdrola (-2%), ArcelorMittal (-1.5%) and Acerinox (-1.2%).
The main European stock exchanges showed mixed behaviour. London's FTSE 100 and Paris's CAC 40 opened flat, while Frankfurt's DAX rose by 0.1%.
In the fixed income market, the yield on the Spanish 10-year bond rose to 3.643%. In the foreign exchange market, the euro advanced against the dollar, changing hands at $1.1414.
For the individual investor, the day presents a cautious scenario. The rising cost of oil, which has been increasing for several days, pressures corporate costs and may affect inflation. Additionally, the earnings season continues to set the pace for stock prices, with notable movements in stocks like Iberdrola and Naturgy.
Attention is now focused on the evolution of oil prices and the upcoming results to be published in the coming days, as well as any geopolitical developments that could alter the course of the markets.
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