The Ibex 35 managed to regain ground in this Monday’s mid-session and was heading toward 19,700 points after starting the session practically flat. In this way, Spain’s main stock market index rose 1.43%, to stand at 19,645 points.
On the geopolitical front, the President of the United States, Donald Trump, has acknowledged in an interview given to the U.S. network “CBS” that public discontent with military intervention in Iran, fuel prices, and microeconomic problems led to the defeat of the Republican Party in the midterm legislative elections (“midterms”).
At the same time, the Chinese Government has decided to extend for two more months the suspension of the additional 24% tariff rate applied to imports of products originating from the United States, although it will keep in force the 10% levy on sales of North American goods.
Meanwhile, it has been learned that Ukraine’s Armed Forces attacked in the early hours of this Monday the oil refinery in the city of Kirishi, the second-largest in Russia and located in the San Petersburgo region, where a fire was declared shortly after the impact.
In addition, investors continue to closely watch the meeting of the Eurozone’s Economy and Finance ministers (Eurogroup), who will analyze in Brussels this Monday the nominations of the Spaniard Pablo Hernández de Cos and the Dutchman Klaas Knot to replace Christine Lagarde at the helm of the European Central Bank (ECB).
On the business front, the market will also have to assess the implications of the internal investigation that Nvidia’s President and Chief Executive Officer, Jensen Huang, is facing, after it emerged that he maintained an extramarital relationship with a directive accused of espionage in favor of Beijing.
In this scenario, the stocks with the biggest gains were Sacyr (3.85%), Solaria (3.19%), ArcelorMittal (2.82%), IAG (2.81%) and Caixabank (2.53%). On the downside, only Repsol was down (-0.70%), while the more moderate rises corresponded to ACS (0.32%), Puig (0.35%), Laboratorios Rovi (0.36%) and Inditex (0.42%).
As for the main European trading hubs, Milan was up 2.08%; Frankfurt advanced 1.17%; Paris gained 0.80%; and London added 0.76%.
In the commodities market, the Brent barrel fell 3.62%, to $94.75, while the West Texas Intermediate (WTI) stood at $88.21, which represents a decline of 2.81%.
Within fixed income, the yield on the Spanish 10-year bond remained practically stable at 3.810%. At the same time, the euro appreciated 0.45% against the dollar, to an exchange rate of $1.1190 per euro.