The Spanish index starts the week with gains driven by the drop in oil prices following the G7's decision to release 100 million barrels. Santander and Telefónica lead the rises, while Solaria and ArcelorMittal head the declines.
The Ibex 35 began this Monday's session with a rise of 0.48%, allowing it to approach 19,200 points and settle at 19,177.4, after closing Friday with a 0.4% advance that kept it above 19,000 points. Markets remain attentive to the evolution of oil prices after G7 countries agreed last Friday to release a total of 100 million barrels of crude and diesel, as reported by Valencia Plaza.
This measure will extend over four months. The G7 did not detail how the total will be distributed, although it specified that there will be a substantial release of diesel during the first 20 days. In this context, Brent, the European benchmark, fell by 0.7% at the opening of European markets, to 101.6 dollars per barrel, while West Texas Intermediate (WTI), the US benchmark, decreased by 1.2%, to 90.1 dollars per barrel.
In the early trading hours, the largest gains among the Ibex 35 components were led by Santander (+1.9%), Telefónica (+1.8%), Repsol (+1.1%) and Merlin (+0.9%). On the opposite end, the largest declines were seen in Solaria (-1.4%), ArcelorMittal (-1.2%), Ferrovial and ACS, both down 0.84%.
The main European stock exchanges opened the week with mixed signals. While Frankfurt gained 0.2%, London rose slightly more than 0.6%, and Milan recorded a 1% increase, Paris fell by 0.5%.
In the currency market, the euro lost ground against the dollar, trading at an exchange rate of 1.1193 dollars, while in the debt market, the yield on the Spanish ten-year bond eased to 0.4%.
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