Ibex 35 Drops 1.51% Amid US-Iran Tensions
The Ibex 35 stock market index in Spain has closed down 1.51% this Wednesday, with most of its components experiencing losses, as investors wait for the European Central Bank's (ECB) monetary policy decision, scheduled to be announced tomorrow.
The decline was triggered by tensions between the US and Iran, which have escalated over recent days. The US Army claimed to have destroyed five Iranian oil tankers in response to attempts by Iran to attack a US Navy warship with ballistic missiles. In retaliation, Iran's Islamic Revolutionary Guard Corps launched missile attacks against a US hangar at the Al Azraq military base in Jordan and two US destroyer ships.
The situation has raised concerns about increased risk in the Hormuz region, according to analysts from Renta 4, who have noted that this is the highest tension seen since the beginning of the war. The geopolitical tensions have also affected oil prices, with Brent crude exceeding $101 per barrel for the second time and West Texas Intermediate (WTI) rising to $96.42.
On a more positive note, Inditex reported a 6.8% increase in net profit to €2.98 billion in the first half of its fiscal year 2026-2027, with several other companies also experiencing gains. However, these were largely offset by losses in the broader market.