The Ibex 35 closed Monday's session at 19,285.80 points, driven by Indra (+3.8%) and Cellnex (+2.8%). The index recovers the psychological level of 19,200 after hitting an intraday low of 19,155.
The Ibex 35 rose this Monday to 19,285.80 points, an increase of about 80 points that returns the index to the mid-range it has been drawing since late September. The session marked an intraday low of 19,155 points, but the afternoon rebound allowed it to close above the psychological level of 19,200 points, according to merca2.es.
Indra Sistemas led the gains with an increase of 3.8% to 62.22 euros per share. It was followed by Acciona Energías Renovables, which rose 3.7% to 22.02 euros, and Cellnex Telecom, which added 2.8% and closed at 24.60 euros. All three stocks benefited from a rotation towards shares that had been punished in recent weeks.
On the negative side, Acerinox lost 2.2% to 16.82 euros; Repsol fell 1.05% to 29.21 euros, weighed down by the correction in oil prices; and Telefónica dropped 1.01% to 3.2190 euros, extending the lethargy it has been experiencing since summer.
The rebound of the Ibex 35 is supported by Indra and Cellnex, two specific stocks, rather than a change in trend: the supports at 19,038 and 18,764 points continue to mark the market floor.
In the continuous market, Berkeley Energia recorded the largest gain, soaring nearly 23% to 0.5420 euros, extending the rally that began on Friday. The mining company will propose the appointment of José Bogas, former CEO of Endesa, as a director at its shareholders' meeting on November 18. Nyesa Valores rose 6.9% and Bodegas Riojanas gained 4.1%; on the downside, Duro Felguera and Arima lost more than 4%.
On the corporate side, Monday was the last day to buy shares of BBVA with the right to receive the next dividend. The entity will pay 0.37 euros gross per share on October 15, with a record payout of around 2 billion euros, according to the calendar sent to the market.
FCC and OHLA lead the two consortia competing for the largest state concession, valued at 1,547.9 million euros for the works of the Madrid Congress Palace. The tender remains uncertain due to deadline extensions and the electoral call on November 29.
Iberdrola increased its net electricity production in the third quarter by 8.2% year-on-year, reaching 29,252 gigawatt hours (GWh). The company closed September with an installed capacity of 57,205 megawatts (MW), according to its provisional energy balance.
The close above 19,200 points does not eliminate the technical deterioration of recent weeks. The index previously formed a bearish engulfing weekly candle and, on Friday, a neutral doji that reflects the lack of direction. Despite Monday's rebound, the short term remains negative, with supports located at 19,038 and 18,764 points, according to José Antonio González, head of technical analysis at Estrategias de Inversión.
The banking sector (Santander, BBVA, and CaixaBank), absent from the major movements of the day, continues to be the main support for the index in the annual aggregate. With third-quarter results just around the corner, the market will determine in the coming weeks whether Monday's rebound has legs or if the 19,200 points will again act as a ceiling.
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