Spain's IBEX 35 regains 19,000 before a week of rate decisions and earnings
Spain's IBEX 35 finished October 26 up 0.23 percent at 19,033.3 points, recovering the 19,000 level as major European markets also advanced. Investors face central-bank decisions and a busy Spanish earnings calendar during the week. Gains in Grifols, Indra and IAG accompanied steep falls in Telefónica and Santander, leaving the benchmark's modest rise alongside sharply divergent share performances.
Economics & Markets··Midday
The benchmark closes back above 19,000
Spain's IBEX 35 benchmark ended the October 26 session at 19,033.3 points, up 0.23 percent. The gain returned the index above the 19,000 level. Its positive close came during a session when major European stock markets also advanced, although individual Spanish shares moved in sharply different directions.[1], [2]
Europa Press placed the session against the week's approaching monetary-policy decisions and corporate earnings. The US Federal Reserve was due to meet on Wednesday. The decisions from the European Central Bank and Bank of Japan were expected over the following two days. The central-bank schedule accompanied an expanding domestic results season.[1]
Banks and energy groups prepare earnings releases
Insurers Mapfre and Línea Directa were among the Spanish companies scheduled to report. The banking names on the calendar included Santander, BBVA, CaixaBank, Sabadell and Unicaja. Energy businesses Endesa, Redeia, Repsol and Naturgy were also due to release results, alongside infrastructure company Ferrovial. These were forthcoming announcements rather than results already reflected in the day's reporting.[1]
Within the index, Grifols rose 5.31 percent, Indra 4.14 percent and IAG 3.96 percent. Solaria gained 3.46 percent, ACS 2.97 percent and Unicaja 2.32 percent. In the other direction, Telefónica lost 6.41 percent and Santander 3.09 percent. Cellnex fell 2.98 percent, Mapfre 1.82 percent and Naturgy 1.80 percent.[1]
Spanish yields fall during Europe's positive session
London's stock market rose 0.72 percent, Paris 0.82 percent, Frankfurt 0.91 percent and Milan 1.29 percent in the Europa Press closing snapshot. Spain's ten-year government bond yield reached four point zero zero six percent, compared with four point zero three nine percent at Friday's close. The spread over the comparable German bond narrowed to 63.6 basis points. At the European close, Brent oil traded at $117.33 a barrel; West Texas Intermediate, the US crude benchmark, stood at $103.01, down 0.24 percent. The euro declined 0.16 percent to $1.1184.[1]
