The Ibex 35 today maintains a positive tone and moves above 20,200 points in this Tuesday's session. The Spanish selective thus prolongs the gains after the advance recorded in the previous day, with IAG, Acerinox, ACS, and Inditex among the values that most support the rise.
The Madrid Stock Exchange started the session with an advance of 0.45%, up to 20,189 points. During the first moments, the index maintained the gains and was positioned above that reference, on a day also marked by the evolution of tensions between the United States and Iran and by the fall in oil prices.
IAG and Acerinox lead the rises of the Ibex 35
IAG is among the most bullish values of the day, followed by Acerinox. ACS, Inditex, Sacyr, and Banco Sabadell also trade with significant advances, while other large values such as Santander, BBVA, CaixaBank, and Iberdrola remain positive.
The behavior of the majority of the components allows the index to consolidate above 20,200 points. Among the values that do not accompany the bullish movement are Logista, which trades ex-dividend, as well as ArcelorMittal, Telefónica, and Repsol.
Oil falls while tensions with Iran continue
Markets continue to pay attention to the situation in the Middle East after the United States announced new sanctions against entities, individuals, and vessels linked, according to Washington, to activities of the Iranian government. Geopolitical tension continues to be one of the main factors that investors are monitoring.
In this context, Brent is down around 91 dollars per barrel, while West Texas Intermediate is also down and is positioned around 84 dollars. The evolution of crude keeps the market's attention due to the economic consequences that the escalation of U.S. pressure on Iran may have.
Jackson Hole and Nvidia, in the focus of the markets
The economic agenda includes data this Tuesday such as Germany's GDP, the IFO business confidence index, and new home sales in the United States. In Spain, industrial prices increased by 9.2% year-on-year in July, driven by the rise in energy costs.
The attention of investors will also shift towards the meeting of central bankers in Jackson Hole, which will begin on Thursday, and towards the results of Nvidia, expected this Wednesday after the close of European stock exchanges. Both events come with the markets awaiting the evolution of interest rates and the behavior of the technology sector.
The main European stock exchanges accompany the positive tone of Madrid, with advances in Milan, Paris, Frankfurt, and London, while the euro loses ground against the dollar. With this scenario, the Ibex 35 today tries to establish itself again above 20,200 points after the boost from industrial, tourism, and financial values.