The Ibex 35 shows a slight decline after the quarterly futures expiry. The falls in Telefónica and Repsol affect its performance, despite a generally more positive context in international markets.
European markets, including the Spanish Stock Exchange, are experiencing a slowdown in their climb due to the quadruple witching hour, where options and futures expire. According to expansion.com, on this day, the Ibex 35 index is positioned below 19,838 points, a level reached the previous Friday, after several sessions of declines.
The downward pressure on the index is largely due to declines in heavyweight stocks, such as Repsol and Telefónica. The drop in oil prices has prompted a correction in Repsol's equity, while Telefónica is also affected by a downgrade recommendation issued by Morgan Stanley.
In the international context, the Federal Reserve and the Bank of Japan have raised interest rates, which has led to an increase in debt yields, although oil prices have moderated, with Brent crude trading at 103 dollars.
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