The Ibex 35 has concluded the session this Monday with an advance of 0.23%, which has allowed it to position itself at 19,033.3 points, in a day dominated by investors' expectations regarding what the rest of the week will bring, marked by meetings of central banks and the presentation of corporate results.
This Wednesday, the meeting of the Federal Reserve of the United States (Fed) will be held, to which the meetings of the European Central Bank (ECB) and the Bank of Japan will be added in the following two days.
In the national sphere, the earnings season is entering fully into its most intense phase. After Bankinter published its accounts last Thursday, the bulk of the financial sector will do the same in the coming days, with Mapfre, Línea Directa, Banco Santander, BBVA, CaixaBank, Banco Sabadell, or Unicaja. Several energy companies (Endesa, Redeia, Repsol, or Naturgy) will also present results, in addition to Ferrovial.
However, the trading this Monday has also been conditioned by the outcome of the elections in Brazil, which has caused declines in the values with the greatest exposure to that market, such as Telefónica, Banco Santander, and Mapfre.
"After the first round, held in early October, the markets had largely discounted a victory for Bolsonaro; this suggests a significant correction in Brazilian assets and greater volatility, given that doubts persist regarding fiscal policy. The implementation of legislative measures will depend on the ability to form coalitions in a fragmented Congress that is predominantly center-right," explains the fixed income analyst at Julius Baer, Eirini Tsekeridou.
On the geopolitical front, Houthi forces have carried out several military operations with ballistic missiles and drones against various targets in Saudi Arabia, including King Khalid International Airport in Riyadh and several crude oil pumping stations.
In Spain, the National Commission of Markets and Competition (CNMC) has authorized in the first phase the purchase by Iberdrola of the electricity marketing business of Contigo Energía in the Spanish market, an operation with which the company will incorporate a portfolio of 100,000 customers.
In the macroeconomic plan, the National Institute of Statistics (INE) has indicated that the buying and selling of homes increased in August by 3.4% compared to the same month in 2025, reaching a total of 49,319 transactions, the highest level for an August since 2024. Furthermore, the number of mortgages constituted on homes grew by 2.3%, with 33,841 loans, its highest record in an August since 2022.
Likewise, the agency has indicated that industrial prices skyrocketed by 18.3% in September compared to the same month in 2025, a rate 5.1 points higher than that of August and the highest since November 2022, driven by the rising cost of energy.
In this scenario, the highest values of the day have been Grifols (+5.31%), Indra (+4.14%), IAG (+3.96%), Solaria (+3.46%), ACS (+2.97%) or Unicaja (+2.32%). On the downside, the declines have been Telefónica (-6.41%), Banco Santander (-3.09%), Cellnex (-2.98%), Mapfre (-1.82%) or Naturgy (-1.80%).
The main European stock markets also closed positively this Monday, with London advancing by 0.72%; Paris, by 0.82%; Frankfurt, by 0.91%; and Milan, by 1.29%.
The barrel of Brent was trading at 117.33 dollars at the end of the European session, while West Texas Intermediate (WTI) was at 103.01 dollars, 0.24% less.
In the debt market, the yield of the Spanish 10-year bond has stood at 4.006%, below the 4.039% recorded at the close on Friday, which has reduced the risk premium compared to the German bond to 63.6 basis points.
In the foreign exchange market, the euro depreciated by 0.16%, to an exchange rate of 1.1184 dollars per euro.