The Ibex 35 advances this Tuesday as Brent hovers around 88 dollars per barrel and expectations grow for a deal between the United States and Iran over the Strait of Ormuz.
According to OK Diario, the Ibex 35 closed Tuesday's session with an increase of nearly 0.2%, on a day marked by negotiations regarding the Strait of Ormuz. The index is approaching peak levels.
Among the best-performing stocks were Repsol (+2.5%) and Acciona (+2.4%), followed by Solaria and Amadeus (+1.8%). Conversely, Rovi fell by 1%, ACS by 0.8%, and Mapfre by 0.5%. In Europe, the Dax reached a historic high in the afternoon, and on Wall Street, the Dow Jones was up 0.21% at the opening.
The Brent reached 90.03 dollars per barrel, its highest level since July 31, after US President Donald Trump demanded compensation from Iran. News of a possible negotiation from Pakistan caused crude to drop by 2.6% from that peak, down to 87.68 dollars.
Pakistan's Defence Minister, Khawaja Asif, stated that the United States and Iran are close to reaching some kind of agreement regarding Ormuz. When asked by journalists in Islamabad, he noted:
“Things are moving in favour of peace.”
Trump announced that he would demand from Iran a compensation for the dead and injured and for the numerous conflicts in which Iranian authorities are involved. Iran, for its part, has requested that peace negotiations include compensation for damages caused by the military conflict that began five months ago.
In fixed income, the Treasury allocated 2,072.437 million euros in three and nine-month bills, within the expected average range, according to data from the Bank of Spain. The three-month yield rose to its highest level in over a year and a half. The ten-year bond yielded 3.638% at midday and the risk premium rose to 44.2 basis points.
On the corporate front, Banco Santander announced a new share buyback programme worth 1.825 million euros, which will commence after the current one, expected to start on August 24. This programme represents 25% of the profit obtained between January and June, with the other 25% to be paid as a cash dividend, which the board of directors will vote on September 29.
Investors will continue to monitor data on CPI, retail sales, and the producer price index from the United States, which will be published in the coming days.
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