The IBEX 35 started the Monday session with a drop of 0.30%, down to 19,794.7 points, after Iberdrola and Repsol traded without dividend rights. The index has accumulated a yearly revaluation of 14.36%.
The IBEX 35 opened the Monday session with a decline of 0.30%, placing it at 19,794.7 points, after closing on Friday at a historic high of 19,852.4 points. The correction was mainly due to the effect of dividend payments from two heavyweights of the index: Iberdrola and Repsol, whose shares suffered an adjustment of over 2% as they traded ex-dividend.
Discounting that mechanical impact, the declines were much more moderate, indicating that the market maintains an underlying upward trend. In fact, the index has accumulated a revaluation of 14.36% so far this year, driven by the strong performance of the financial sector, energy companies, and dividend distributions.
Notable values of the session
Among the most affected stocks of the day were ACS, which lost 1.69%, and Solaria, which fell by 1.48%. On the positive side, Amadeus led the gains with an increase of 1.88%, followed by IAG, which rose by 1.76%. Banco Santander, BBVA, and Inditex also recorded increases, reflecting the strength of the major stocks in the index.
The Spanish market benefits from a favourable technical context, having surpassed successive historic highs in recent weeks. The high dividend yield of numerous companies in the IBEX 35 continues to attract long-term investment, while investors await upcoming corporate results to confirm the strength of profits.
External factors and outlook
Internationally, investors are focused on the evolution of oil prices, following the production increase announced by OPEC+, and on negotiations between the United States and Iran. Upcoming activity indicators in the United States and the eurozone will also set the direction for the markets in the coming sessions.
The market's attention is now on the IBEX 35's ability to consolidate above 19,800 points. The start of the earnings season will test the continuity of the upward momentum during the second half. For individual investors, such technical corrections often present entry opportunities in solid stocks, provided a long-term perspective is maintained.
In summary, the drop on this Monday is a temporary adjustment due to dividends and does not alter the positive trend of the index. Analysts believe that the IBEX 35 remains well positioned to face the coming months, supported by the fundamentals of the companies and a macroeconomic environment that, although uncertain, does not show signs of serious deterioration.
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