The Ibex 35 recorded at mid-session this Thursday a decline of 0.57%, to 18,776.20 points, in a day dominated by the publication of corporate results and by the imminent decision of the European Central Bank (ECB) on interest rates.
The ECB monetary policy meeting comes just one day after the verdict of its U.S. counterpart became known. As the market consensus had anticipated, the Federal Reserve (Fed) chose not to touch the price of money, which continues in the target range of between 3.75% and 4%, after the increase agreed at the previous meeting and on the eve of the midterm elections --'midterms'-- in the United States.
In the case of the eurozone, investors take it for granted that the ECB will leave rates unchanged at 2.5%, although they anticipate a new increase in December. "Against energy crises, the ECB's strategy does not consist of reacting to energy prices, but will react to the risk that the increase in those prices becomes incorporated into inflation," explains the portfolio manager at Pimco, Konstantin Veit.
At the same time, the President of the European Central Bank (ECB), Christine Lagarde, will leave the institution on February 7, 2027, according to the body itself has confirmed, after the eurozone's monetary policy head communicated this Thursday her decision to the Governing Council and to the President of the European Council, António Costa.
Business results: banking, energy and industry
In the corporate sphere, Banco Sabadell closed the first nine months of the year with net profit of 1.376 billion euros, 1% less than in the same period of the previous year, including the contribution of TSB -which was part of the group for four months- thanks to "the boost in the business, a trend that will continue from now on".
Also within the financial sector, BBVA concluded the first nine months of 2026 with attributable net profit of 9.066 billion euros, which implies an increase of 13.6% compared with the same period of the previous year.
For its part, Indra Group achieved net profit of 355.5 million euros between January and September, which represents an increase of 22% compared with the 291.3 million euros recorded in the same period of the previous year.
In the energy sector, Repsol obtained a net profit of 5.006 billion euros in the first nine months of the year, 325% more than the 1.177 billion euros in the same period of the previous year, driven by the revaluation of stocks (+943 million euros) in a 2026 environment marked by the increase in the price of crude oil and petroleum products as a result of the conflict in the Middle East.
For its part, Naturgy reported a net profit of 1.758 billion euros up to September, which represents an increase of 5.4% compared with the same period of the previous year, and raised its forecasts for the full year, by anticipating record earnings close to 2.200 billion euros in 2026.
In addition, the market learned the third-quarter 2026 accounts of Fluidra, FCC, Grupo Elecnor and Faes Farma.
Highlighted stocks and evolution of European stock markets
In this scenario, the most bullish stocks on the Spanish stock market at mid-session were Indra (+3,10%), Repsol (+2,91%), Ferrovial (+2,66%), Acciona Energía (+2,52%) and ArcelorMittal (+1,76%). On the downside, BBVA led the falls (-4,59%), ahead of Mapfre (-2,06%), Inditex (-1,96%), Banco Santander (-1,71%) and Unicaja (-1,49%).
The rest of the major European markets were moving with gains in mid-session: London's FTSE 100 added 0,25%, Paris's Cac 40 0,84%, Frankfurt's Dax 0,80% and the Euro Stoxx 50 0,13%. Only the Italian index FTSE MIB gave up 0,29%, in line with the behavior of the Ibex 35.
Commodities, debt and currencies
In the commodities market, the Brent barrel, the benchmark for Europe, stood at 114,10 dollars at mid-session, 1,06% lower, while West Texas Intermediate (WTI), the benchmark in the United States, was trading at 101,51 dollars, with a decline of 1,24%.
In fixed income, the yield on the Spanish 10-year bond eased to 3,992%, compared with 3,996% at Wednesday's close, which placed the risk premium at 61,55 basis points.
In the foreign exchange market, the euro was depreciating by 0,10% against the greenback, to an exchange rate of 1,1143 dollars per euro.