The Ibex 35 closed the day with a drop of over 1% after corporate results that generally did not convince investors. Santander was one of the hardest hit stocks.
According to xtb.com, the Ibex 35 fell by more than 1% during the session, exhibiting weaker performance than other European indices. In the United States, however, the main indices recorded slight gains.
Corporate results set the tone for the index. Redeia advanced by around 2% after reporting quarterly sales that were 9.2% higher than the previous year and a net profit that was 8% greater, figures that exceeded analysts' consensus forecasts.
Santander fell by nearly 6%. The entity showed improvements in its efficiency ratio and strength in its interest margin, but net profit in Brazil dropped by over 20% year-on-year, and investment banking figures were weak.
Acciona and Acciona Energía lost around 4% after it was revealed that interested parties in purchasing Acciona Energía had withdrawn from the process, leaving Acciona as the only option to retain the subsidiary. Both stocks had been trading at a premium since the potential sale was announced, a premium that has now disappeared.
Mapfre increased its premiums by 4% year-on-year in the third quarter, but its business in Brazil declined: premiums fell by over 4%, ROE dropped nearly 4 points since the end of 2025, and the combined ratio rose due to the auto business. Brazil accounts for 17.6% of the group's insurance premiums.
In Europe, the price of natural gas exceeded 100 euros per MWh, a level not seen since 2022. Reserves are around 75% across the region and nearly 60% in Germany.
Outside the Ibex, the DAX rose by 0.4% and the French CAC closed flat. On Wall Street, investors are awaiting the Federal Reserve meeting, where no changes in rates are expected, as well as the earnings reports from Microsoft and Alphabet. Oil rebounded following a new attack by the Houthis on a Saudi Arabian refinery.
Attention now turns to the Federal Reserve's decision and the results from Microsoft and Alphabet.
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