The Ibex 35 began trading on Monday with a slight dip of 0.07%, placing the Madrid benchmark at 11,834.9 points as the clock nears 9:00 a.m. The week is shaping up with the US presidential elections scheduled for Tuesday and the release of corporate results on the agenda.
But by around 9:10 a.m., the main Spanish index reversed course, climbing about 0.13% to around 11,858.7 points.
Investors also kept an eye on the Federal Reserve’s monetary policy meeting, while earnings season stayed in focus for companies across the market.
In the corporate results line, net profit for the first nine months reached 66 million euros, up 3.2% from the same period in 2023, while the consolidated net income, excluding minority interests, stood at 52 million euros, up 2.2%.
Meanwhile, OHLA announced that it had signed an agreement with bondholders and lenders to support the group’s recapitalization.
In the opening minutes of the session, the largest gain inside the Ibex 35 was recorded by Sacyr, rising 1.04%, followed by Solaria 0.93%, CaixaBank 0.91% and Indra 0.85%.
On the downside, Rovi led declines, slipping 1.75%; Fluidra fell 0.78%, and IAG slipped 0.75%.
Major European markets opened the day with mixed signs. Paris and Frankfurt were down 0.1% and 0.07%, while London and Milan rose 0.15% and 0.14%, respectively.
At market opening, Brent crude, the European benchmark, traded at 74.26 dollars a barrel, up 1.59%, while Texas crude gained 1.74% to 70.70 dollars a barrel.
In the currency market, the euro traded at around 1.0891 dollars per euro, while the yield on the 10-year bond climbed to 3.111% as investors evaluated macro data and policy expectations.