The Ibex 35 began trading on Tuesday, the first day of October, with a small gain of 0.12%, lifting the benchmark to 11,892 points at 9:00 a.m., in a session dominated by the euro area release of the September preliminary Consumer Price Index. Moments after the opening bell, the main Spanish index reversed course and dropped 0.17%, settling around 11,857.1 points.
In corporate news, Indra has launched the formal process to sell its Minsait payments subsidiary. Solaria, for its part, reported a net profit of 41.63 million euros in the first half of the year, a 17% decline from the same period a year earlier, the company said. It also anticipated a rebound in the second half of 2024 across all business metrics, supported by higher energy prices.
Additionally, Urbas reported a net attributed profit of 1.6 million euros for the first six months of 2024, down 93% from the prior year due to the restructuring of its construction arm. On the other hand, Squirrel Media acquired a 10.5% stake in Trendier Latam, better known by its brand GoTrendier, the online second-hand fashion platform, for 4.4 million euros, according to the company’s disclosure to the CNMV. Duro Felguera, meanwhile, posted losses of 26.3 million euros in the first half, compared with a profit of 1.56 million in the same period a year earlier.
Beneath the macro backdrop, the Spanish Public Treasury expects to place between 4.5 billion and 5.5 billion euros in a six- and twelve-month bill auction, the first of October this month.
In the early moments of this session, the strongest gains in the Ibex 35 were logged by Solaria (+1.92%), Rovi (+1.82%), and Naturgy (+1.03%), while the laggards included Acciona (-1.57%), Bankinter (-0.98%), and Banco Sabadell (-0.60%).
The leading European markets opened October with mixed signals. Paris fell 0.04%, while Frankfurt, Milan, and Paris rose by 0.42%, 0.25%, and 0.13%, respectively.
At the start of trading, the price of Brent crude, the European benchmark, stood at 71.28 dollars per barrel, up 0.27%, and Texas Intermediate rose 0.28% to 67.86 dollars. In the foreign exchange market, the euro traded at 1.1124 dollars, with the yield on the 10-year bond at 2.907%.