The Madrid selective index starts Friday's session with a rise of 1.15% and is positioned at 19,145.8 points, driven by the drop in oil prices following Trump's announcement that he will not attack Iran before the November elections.
The Madrid Stock Exchange began this Friday, the last of the week, with a rise of 1.15% in the Ibex 35, which has surpassed the 19,100 points mark and is now at 19,145.8 points. The advance of the selective index occurs in a context marked by events in the Middle East and uncertainty about the conflict, as reported by OK Diario.
The President of the United States, Donald Trump, has assured that he will not order any attack against Iran before the legislative elections scheduled for November 3. In a message shared on his social media, Trump reiterated: "We will not attack Iran at any time before the midterm elections taking place in the US on November 3. Iran will not have nuclear weapons!".
These statements have moderated oil prices. The Brent, the European benchmark, fell 0.8% at the opening of European stock exchanges, down to 103.4 dollars per barrel, while the West Texas Intermediate (WTI), the US benchmark, dropped 10.7%, to 90.9 dollars per barrel.
The spike in crude oil on Thursday, when it surpassed 105 dollars per barrel, occurred after some reports indicated that Trump had ordered the Pentagon to design attack options against Iran to execute them before the midterm elections. The US president stated on Thursday that he will not attack Tehran, "even though it is in a very delicate situation, both economically and militarily," and is having "fruitful conversations" with Iranian authorities.
In the Spanish business sector, before the market opened, it was announced that the boards of directors of Cirsa and the Italian Lottomatica have approved the joint project that sets the terms and conditions for their cross-border merger, which will create a gaming sector group with a combined business of 34 billion euros.
Grenergy has reported that it has closed financing of 446 megawatts (MW) and 1.8 gigawatt hours (GWh) for the fifth phase of Oasis de Atacama (Chile) for 457 million dollars (407 million euros).
In the early stages of trading, the biggest gains among the components of the Ibex 35 were led by Arcelormittal (+2.2%), Cellnex (+2%), and Solaria (+1.9%). On the other hand, the only declines were recorded by Telefónica (-2.2%) and Repsol (-1.3%).
The main European stock exchanges were mixed: Milan opened down 0.6%, while Paris and London rose 0.9% and Frankfurt 0.7%. In the currency market, the euro regained ground against the dollar, reaching an exchange rate of 1.1225 dollars, and the yield on the Spanish ten-year bond eased to 4.072%.
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