Spain's Ibex 35 climbs above 19,400 as oil prices retreat

The Spanish IBEX 35 edged up 0.1% in early trading to 19,409 points, recovering the 19,400‑point level. The rise was supported by a slip in Brent crude, which fell to around $72.6 per barrel after easing tensions between Washington and Tehran. ACS led the gains, posting close to a 1% increase, while Solaria dropped more than 1%.

Spain's economy expanded 0.6% in the first quarter, slightly slower than the previous quarter, driven mainly by domestic demand. Industrial prices surged 10.5% year‑on‑year in May, the strongest increase since late‑2022, largely due to higher energy costs. Corporate news included Arteche’s €100 million accelerated share placement, Audax’s planned €404 million voluntary takeover offer for Norway’s Elmera, Faes Farma’s proposed complementary dividend of €0.087 per share, and Gestamp’s upcoming complementary dividend of €0.0412 per share.

Other European markets showed mixed performance: Frankfurt rose about 0.4%, Milan gained 0.3%, Paris was flat and London saw slight declines. Spanish government bond yields fell, with the 10‑year yield at 3.34%, and the euro traded near $1.135.