The Spanish index retreats by 1.55% on Wednesday, down to 19,422 points, on a day marked by a flood of quarterly results. CaixaBank plummets by 6.48% and Telefónica drops by 2.95%.
The Ibex 35 experienced a significant correction on Wednesday, losing 1.55% and closing at 19,422 points. The index, which nearly reached historic highs yesterday, saw declines in major stocks like CaixaBank and Telefónica weigh down the overall index.
CaixaBank led the losses with a drop of 6.48%, despite reporting a net profit of €3.203 billion in the first half, an 8.5% increase from the previous year. The market punished the lack of positive surprises and the forecast of a dividend of between €961 million and €1.281 billion, in line with expectations.
Telefónica, for its part, fell by 2.95%. The operator reported an adjusted net profit of €954 million up to June, a 21% decrease compared to 2025. Without adjustments, reported losses were €338 million, although this is a 75% improvement compared to the previous year, affected by the divestment in Chile and a provision in Germany.
Indra completed the podium of declines with a drop of 2.90%. On the other hand, Grifols stood out with a rise of 7.18%, after announcing a net profit of €227 million in the semester, a 28.7% increase. Acciona Energías Renovables advanced by 5.70% and Acciona by 4.71%.
The session was marked by a genuine flood of quarterly results. Aena raised its profit by 12.1% to €1.002 billion, with an EBITDA of €1.7899 billion (+6.3%) and revenues of €3.2996 billion (+10.1%). Endesa shot up its profit by 41% to €1.470 billion, and expects to close the year with an ordinary net profit exceeding €2.400 billion.
Redeia gained 4% more, with an attributed profit of €280.4 million, while consolidated profit reached €292.5 million (+2.7%).
The Ibex 35 came from a day on Tuesday where it closed with a slight decline of 0.07%, after flirting with new historic highs. The closing record remains at 19,852.40 points from July 3, just 430 points above the current level.
For investors, the day leaves several interpretations. On one hand, the results from banks and utilities show solidity, but the declines of CaixaBank and Telefónica indicate that the market had already priced in good news. On the other hand, the punishment of stocks with exposure to Latin America, such as Telefónica, reflects uncertainty about the region.
The index is now approaching the psychological barrier of 19,000 points, a level it hasn't visited since late June. Analysts will be watching to see if the support at 19,300 points holds in the coming sessions.
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