Ibex 35 Oscillates Around 19,500 Points Amid Tech Sentiment and Oil Price Moves

The Spanish benchmark Ibex 35 showed strong volatility in late June, swinging from a low of 19,389.5 points on June 25‑27 to a high of 19,513.6 points on June 26, a 0.64 % gain. The rally was driven by a second‑half session boost and the rebound of technology stocks in international markets, while declines were linked to a deteriorating sentiment around artificial‑intelligence (AI) equities. Analysts noted that “la demanda de chips de memoria convencional y de memoria de alto ancho de banda continúa superando a la oferta”, highlighting the role of Micron’s quarterly results in sustaining optimism.

Tech shares fell as worries grew over AI competition from Chinese models, with Renta 4 pointing to “un empeoramiento del sentimiento en torno a la IA”. Energy and banking stocks, including Iberdrola, Endesa, BBVA and IAG, led the gains, supported by lower oil prices – Brent trading near $74‑$75 and WTI around $70 per barrel.

Domestic macro data showed Spain’s GDP expanding 0.6 % in Q1 and industrial prices rising 10.5 % YoY, while companies announced several actions: Arteche’s €100 m accelerated share placement, Audax’s €404 m offer for Elmera, Gestamp’s €0.0412 dividend, Amper’s €14 m Brazilian contract, OHLA’s $43.9 m litigation settlement, and Inmocemento’s dividend proposals.

Analysts such as Daniel Santacreu warned that “la atención debemos ponerla en los principales índices americanos”, noting that upcoming U.S. inflation and Federal Reserve policy data will continue to shape Ibex direction, and that volatility may persist as markets balance tech‑sector risk against energy‑sector relief.