The Ibex 35 rises by 0.8% during the session and recovers the level of 19,300 points. In the next ten days, 31 of the 35 companies in the index will present their quarterly results, which anticipates an increase in volatility.
The Ibex 35 has started the week with optimism. The Spanish index is up 0.8% in the session, allowing it to regain the psychological level of 19,300 points. Investors are now focusing on the earnings season that kicks off tomorrow with the publication of Banco Santander's accounts.
Over the next ten days, 31 of the 35 companies that make up the Ibex 35 will present their quarterly results. This concentration of publications generates expectations of greater volatility in the market during the final stretch of July.
CaixaBank hits new all-time highs
On the corporate front, CaixaBank leads the gains in the index with an increase of 3.4%. Its shares reached a new all-time high of 12.93 euros, driven by expectations of solid results and the possibility that the European Central Bank will resume interest rate hikes starting in September.
This scenario would particularly benefit the banking sector, as higher rates improve the profitability of traditional intermediation business. Investors also appreciate the strength of the Catalan entity's balance sheet.
Asian markets lead the global rally
The positive tone extends to major global markets. In Europe, the Euro Stoxx 50 shows gains similar to those of the Ibex 35. On Wall Street, the Nasdaq 100 is up 1.3% at the open, boosted by the technology sector.
However, the spotlight is on Asian markets. The China A50 rises by 2.4%, the Nikkei 225 gains 3.26%, and the KOSPI advances 3.56%. These increases help recover some of the recent losses, in a context where the market evaluates the potential of artificial intelligence developed by the Chinese Moonshot and its ability to create advanced models at reduced costs.
Gold also joins the bullish rally, with a rise of 1.5%, although it still remains below 4,100 dollars. Bitcoin is up 2.5% and manages to position itself again above 66,000 dollars.
Geopolitical tension eases
The geopolitical risk premium associated with the conflict between the United States and Iran begins to moderate, after nearly two weeks of clashes. Negotiations to reach a new truce could end hostilities in the coming days.
However, Brent crude oil continues to trade near 92 dollars per barrel, which maintains inflationary tensions on the horizon. This factor will be key in the decisions of central banks in the coming months.
For individual investors, the earnings season starting tomorrow is a key moment to review portfolios. ETFs of the Ibex 35, such as LYXIB.ES, allow exposure to the index with reduced fees. Additionally, periodic investment plans, starting from 15 euros, facilitate diversification with up to 9 different ETFs.
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