Weekly Market Overview
Ibex 35 pushes near 19,900 points
The Spanish Ibex 35 kept its upward momentum despite a weak U.S. jobs report that raised doubts about the next Federal Reserve rate hike. The index rose 0.88% on Friday, closing just shy of the 19,900‑point mark.
Other European bourses also in the green
Frankfurt led the continent with a 1.0% gain, followed by Milan (+0.74%), Paris (+0.39%) and London (+0.23%). Wall Street was closed for Independence Day, so European traders had no U.S. cue to follow.
Commodities Corner
Oil prices stayed below the peaks seen during the Iran‑war period. Brent crude hovered around $72 per barrel, while the U.S. reference remained unchanged.
Business Highlights
Activate Energy sells hydraulic assets
Activate Energy completed the sale of 64 MW of hydraulic power in Spain to White Summit Capital for €66 million.
Unicaja early‑redeems green bonds
Unicaja announced an irrevocable decision to early amortize green obligations worth a nominal €56.8 million.
CaixaBank share‑buyback progress
CaixaBank executed 28.78% of its €500 million share‑repurchase program during the ninth week of the plan launched in May.
Macro Data Snapshot
Industrial production ticks up
Spain’s General Industrial Production Index (IPI) rose 0.8% in May versus May 2025, though the gain was 3.6 points lower than April’s increase.
Stock movers within the Ibex 35
ArcelorMittal led the advance with a near 6% jump. Other gainers included Acerinox (+3.61%), Cellnex (+2.22%), Acciona (+1.68%) and Activate Energy (+1.49%). On the downside, Narrator fell 0.96%, Bankinter slipped 0.43% and Amadeus dropped 0.39%.
Currency and Bonds
The euro traded at 1.1442 USD. The yield on Spain’s 10‑year bond climbed to 3.412%, widening the risk premium over German bonds to 49.01 basis points.
Conclusion
Despite a shaky U.S. jobs report, European markets kept their bullish tone, with the Ibex 35 flirting with the 19,900‑point level. Gains were driven by strong performances in basic materials, energy and infrastructure stocks, while oil remained subdued. Corporate news highlighted asset sales, green‑bond redemptions and ongoing share‑buybacks. Looking ahead, investors will watch how the Fed’s next move influences both equity and bond markets.
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Images Credit: www.diariodeibiza.es