The Spanish index rises by 0.55% at mid-session, reaching 19,708.20 points, with Banco Santander leading the gains. The risk premium drops to 49.85 basis points.
The Ibex 35 was trading at mid-session on Tuesday with an increase of 0.55%, up to 19,708.20 points, driven by banking stocks. Banco Santander led the gains with an advance of 1.58%, according to Valencia Plaza.
Markets remain attentive to the situation in the Middle East after US President Donald Trump denied on Monday that he was willing to lift sanctions on Iran and unblock frozen funds in exchange for concessions on its nuclear programme. Analysts from Bankinter note that "it seems difficult for yields to offer relief, so it is most likely that the stock markets will show erratic behaviour."
Among other notable stocks, Unicaja rose by 1.47%, Iberdrola by 1.28%, Banco Sabadell by 1.03%, and Naturgy by 0.97%. On the downside, Repsol led the declines with a drop of 2.65%, followed by Cellnex (-1.54%), Ferrovial (-1.50%), Telefónica (-0.70%), and Logista (-0.62%).
The price of Brent crude oil, the European benchmark, rose by 0.10% to $105.17 per barrel, while West Texas Intermediate (WTI) increased by 0.03% to $92.57.
The other major European exchanges were also trading positively: the British FTSE 100 rose by 0.32%, the French Cac 40 by 0.10%, the German Dax by 0.36%, the Italian FTSE MIB by 0.74%, and the Euro Stoxx 50 by 0.65%.
In the fixed income market, the yield on the Spanish 10-year government bond fell to 4.127%, down from 4.145% at Monday's close, which placed the risk premium at 49.85 basis points. In the currency market, the euro depreciated by 0.31% against the dollar, resulting in an exchange rate of $1.1336.
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