The Ibex 35 is trading up 1.02% in the mid-session this Friday, reaching 19,463.50 points, on a day marked by corporate results and geopolitical tension in the Middle East.
The Ibex 35 records a gain of 1.02% in the mid-session this Friday, positioning itself at 19,463.50 points. The Spanish index benefits from a wave of corporate results released this week, which have shown mixed figures but with some notable increases.
On the positive side, Acerinox leads the gains with a rise of 9.48% after announcing a net profit of 77 million euros in the first half, compared to losses of 18 million in the same period last year. The steel company attributes the change in trend to the strength of its business in the United States and improvements in the European market.
Banco Sabadell is also among the top gainers (+3.96%) after reporting a net profit of 971 million euros in the first half, a 0.5% decrease from the previous year, but with the approval of a capital reduction of 14.97 million through the buyback of its own shares.
Almirall, for its part, has reported a 49.4% increase in its net profit for the semester, reaching 39.6 million euros, which has been well received by the market. Logista (+3.69%), Bankinter (+2.68%), ArcelorMittal (+2.39%), and Unicaja (+2.33%) complete the list of the biggest gainers.
On the downside, Mapfre leads the declines (-5.07%) despite reporting a net profit of 624.2 million in the first half, a 9.4% increase. The insurer has announced the acquisition of the American Safety Insurance for 1.542 billion dollars (1.355 billion euros) to expand in the northeastern United States, a move that investors have received with caution.
Indra (-2.67%), Repsol (-2.65%), Cellnex (-1.04%), and Colonial (-0.36%) are also trading lower. Tubacex, which has seen its profit fall by 95.8% in the semester, down to 700,000 euros, is not among the most weighted stocks but reflects the weakness of some sectors.
The session is also marked by geopolitical tension. Iran has announced drone attacks against US military bases in Jordan and Bahrain, in retaliation for ongoing bombings against Iranian soil. Despite this, Julius Baer's head of economic research, Norbert Rücker, believes that neither side wants escalation and is hopeful that negotiations will resume.
The price of Brent crude, the European benchmark, is trading at 96.72 dollars, after a 3.94% drop. West Texas Intermediate (WTI) is at 88.95 dollars, down 3.51%. The decline in oil prices alleviates inflationary pressures, although geopolitical uncertainty remains latent.
On the international front, the United States has imposed tariffs on 60 countries as punishment for not banning goods produced with forced labour, replacing the temporary global tariff of 10% that expired at midnight. This measure could have implications for Spanish exports.
The rest of the major European stock exchanges are also trading higher: the British FTSE 100 is up 0.42%, the French Cac 40 is up 0.43%, the German Dax is up 0.92%, the Italian FTSE MIB is up 0.75%, and the Euro Stoxx 50 is up 0.83%.
The yield on the Spanish 10-year bond stands at 3.641%, down from 3.689% at Thursday's close. The risk premium over German debt is reduced to 47.08 basis points. In the foreign exchange market, the euro appreciates by 0.08% against the dollar, reaching 1.1386 dollars per euro.
El Corte Inglés is holding its ordinary general shareholders' meeting in Madrid this Friday, the first with Cristina Álvarez as president. Additionally, Iberdrola has reported that 74.63% of its capital has opted to receive shares under its flexible remuneration programme corresponding to the supplementary dividend based on the results of 2025.
This Friday's session reflects a market digesting corporate results with selective optimism, while investors remain focused on geopolitical developments and upcoming central bank decisions.
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