The Ibex 35 opens lower again following Donald Trump's threats in Spain

BarcelonaThe Spanish stock market opened this Wednesday with a 0.67% drop in its benchmark index, the Ibex 35, in what could be its third consecutive session in the red amid the geopolitical and economic uncertainty caused by the joint US-Israeli offensive against Iran, and the day after US President Donald Trump threatened sanctions against the Spanish state for its stance against the war and for refusing to cede the use of military bases.

In the early stages of trading, the Ibex stood at 16,975.9 points after falling 0.67%. So far this year, the index has lost 1.92%. Yesterday, the Ibex 35 closed at 17,062.40 points, after losing 4.55% in a dismal day, in which all stocks declined except for the oil company Repsol, which managed to rise 3.29% thanks to the boost from higher oil prices.

However, about ten minutes after the market opened this Wednesday, the Ibex 35 reversed course and rose 0.04%, thus recovering the 17,000-point mark and reaching 17,061 points. In the early stages of trading, the biggest declines were seen in Acciona (-5.25%), Acciona Energía (-3.48%), and Grifols (-2.78%). Conversely, the top gainers included IAG (+2%), Amadeus (+1.46%), Rema (+0.6%), and BBVA (+0.5%). European markets saw a slight rebound. Specifically, Frankfurt was trading 0.6% higher, Paris was up 0.3%, and London was up 0.04%. Asian markets suffered significant losses on Wednesday. In Tokyo, the benchmark Nikkei index plunged 3.61%, marking its third consecutive session of declines. The index, which tracks the 225 most representative stocks on the market, fell 2,033.51 points to 54,245.54, its lowest level since early February. The broader Topix index, which includes the largest companies by market capitalization, dropped even further, by 3.67%, or 138.5 points, to 3,633.67. In China, the Shanghai Composite Index fell 0.98%, losing 40.2 points to close at 4,082.47. Meanwhile, the Shenzhen Composite Index declined 104.64 points (-0.75%) to finish at 13,917.75. The Kospi, the main index of the Seoul Stock Exchange, plummeted 12.06%.

Oil and gas

Meanwhile, oil prices opened higher in the new session, rising nearly 3% before the opening of European stock markets, following a new wave of attacks on Iran by Israel and the United States and the difficulties faced by oil tankers and merchant ships navigating the Strait of Gibraltar. Specifically, the price of Brent crude, the European benchmark, rose 3.2% to $84.04 per barrel by 8:15 a.m., while West Texas Intermediate (WTI), the US benchmark, advanced 3% to $76.80 per barrel. Gas prices also continued their upward trend on the main European market, the TTF. After a sharp rise on Tuesday, closing at €54.290 per MWh, this morning it was already above €57 and, in the early hours of the session, had even surpassed €60.