The Spanish index has closed August with a decline of 0.34%, standing at 19,974.10 points. Despite this drop, the Ibex 35 has achieved a 0.97% appreciation over the month, driven by the surge in oil prices.
The Ibex 35 closed the last day of August with a setback of 0.34%, finishing at 19,974.10 points. This decline occurs in a context of uncertainty in European markets, exacerbated by a new military escalation in Iran that has driven up oil prices and generated inflationary pressures, according to expansion.com.
Despite the drop in the last session, the Spanish index has achieved a 0.97% appreciation throughout August, thanks to the recovery of some stocks in the energy sector. Repsol has been one of the key players, with an increase of 2.44%, driven by the rise in crude oil, which has surpassed 90 dollars per barrel.
In addition to Repsol, other companies such as Cellnex (+0.91%), Enagás (+0.78%), and Telefónica (+0.72%) have also contributed to mitigating the index's losses. In contrast, the military escalation has penalised companies like IAG (-2.11%) and Solaria (-2.53%).
The geopolitical situation and the rise in oil prices have complicated economic prospects, leading investors to adopt a cautious stance. With inflation as the main concern, potential interest rate hikes are anticipated in the coming months.
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