The Ibex 35 has closed Monday’s session with a 0.19% increase, reaching 14,036 points, in a day marked by tariff uncertainty that had led the index to trade below 13,900 at the session’s opening.
European Commission President Ursula von der Leyen announced on Sunday that the EU will suspend retaliatory measures against US tariffs that were set to be reinstated on Monday, with the goal of «continuing negotiations» with the American president until August 1st, when the new extension offered by Trump before increasing the existing 30% surcharge on European products will expire.
In fact, EU Trade Commissioner and negotiator with Washington, Maros Sefcovic, has warned that if the US threat to impose a 30% tariff on all European products starting August 1st materializes, it would effectively prohibit trade between the two regions.
On the other hand, Spain’s Minister of Economy, Trade, and Business, Carlos Cuerpo, has reiterated his proposal to create a European aid plan to compensate the sectors most affected by the Trump Administration’s tariffs in case negotiations between Brussels and Washington fail.
Analysts at Renta 4 have assessed the current state of the markets, suggesting that the expectation of negotiations leading Trump to moderate tariffs from the announced 30% to 10% for all products (except steel, aluminum, and cars, which would remain at 25%) could limit declines, although volatility is expected.
At the close of the European session, Trump threatened to impose «secondary tariffs» of 100% on Russia in 50 days if no agreement is reached with Ukraine within that time to achieve a ceasefire and start a peace process.
In the Spanish business sector, Cellnex has successfully refinanced its main syndicated credit line, increasing it to a total of 2.8 billion euros.
Additionally, seven Spanish listed companies will distribute over 627 million euros in dividends to their shareholders this week, with three Ibex 35 members – ACS, Acerinox, and Rovi – standing out among them.
In this context, Indra was the top gainer (+2.05%), ahead of IAG (+1.69%), Merlin (+1.25%), Unicaja (+1.17%), Enagás (+0.90%), and Acciona Energía (+0.88%).
On the other hand, Rovi (-1.97%, due to the ‘ex-dividend’ effect), Puig (-1.93%), Fluidra (-1.61%), Inditex (-1.57%), ArcelorMittal (-1.16%), and Repsol (-0.89%) were among the top losers.
The evolution of the rest of the European markets was mixed, with London up 0.64% and Milan up 0.27%, while Paris fell 0.27% and Frankfurt 0.39%.
The Brent barrel traded at $69.51 during the European mid-session, down 1.22%, while West Texas Intermediate (WTI) reached $67.37, down 1.59%.
The yield on the Spanish 10-year sovereign bond closed at 3.343%, above the 3.330% recorded on Friday’s close. Thus, the risk premium against German debt rose to 61.4 basis points.
Regarding currencies, the euro-to-dollar exchange rate stood at 1.1671 ‘greenbacks’ per euro.
FUENTE