The Ibex 35 opened this Friday, the last trading day of the week, with a slight drop of 0.12 percent. The benchmark stood at 10,854.9 points as investors directed their attention again to Grifols, whose shares rallied more than 6 percent at the outset following a report from Spain’s National Securities Market Commission (CNMV) released on the preceding day.
In the CNMV report, the regulator found notable deficiencies in Grifols’ annual accounts, specifically in the detail and accuracy of the breakdowns and explanatory notes that underpin the figures. Yet the CNMV stressed that no significant errors were identified in the results and, at present, no reformulation of the financial statements was deemed necessary.
Grifols responded to the CNMV by asserting a commitment to greater transparency and to expanding the disclosures of its financial information in line with the regulator’s recommendations.
The CNMV also pointed to information presented in several earlier periods and to the manner in which performance measures, known in English as An Alternative Performance Measures (APMs), were disclosed. In particular, attention was drawn to earnings before interest, taxes, depreciation, and amortization (EBITDA) and the debt/EBITDA ratio.
Separately in the Spanish business landscape, Murias, the Basque subsidiary of Urbas, unveiled a viability plan intended to secure the company’s continuity. The plan outlines a structured restructuring, full debt repayment, and the goal of preserving the business’s viability while maximizing value for creditors and employees.
Meanwhile, Banco Santander announced plans to allocate more than 6 billion euros in cash dividends and share buybacks charged to 2024 results, aligning with its shareholder-remuneration policy. The formal statement is expected to be delivered by the bank’s chair during the general meeting convened in Boadilla del Monte, Madrid.
In the early trading phase, the notable gains within the Ibex 35 were led by Grifols, which rose about 6.44 percent, followed by Iberdrola at 1.48 percent, Colonial at 0.76 percent, and Enagás at 0.64 percent. On the flip side, Rovi slipped about 1.02 percent, Solaria declined 0.93 percent, and Ferrovial fell 0.8 percent, marking the weaker performers on the index.
The major European stock exchanges opened the day with mixed trajectories. Paris, Milan, and Frankfurt showed declines of 0.33 percent, 0.3 percent, and 0.12 percent respectively, while London posted a modest gain of about 0.15 percent.
Turning to commodities, Brent crude, the European benchmark, opened the session lower, down roughly 0.51 percent to 85.34 dollars per barrel, while US light crude, known as West Texas Intermediate, traded at around 80.66 dollars, down 0.51 percent.
The foreign-exchange market showed the euro strengthening against the dollar, trading around 1.0825 dollars, while sovereign borrowing costs rose for Spain, with the 10-year bond yield climbing to approximately 3.192 percent.