The IBEX 35 closes this Friday with a drop of 0.99% to reach 17,074.40 points. The biggest falls today have been for Grifols and Indra, which fell 3.36% and 3.07%, respectively. On the positive side, Telefónica has risen 2.89% and Repsol, 2.67%.
The Madrid selective has experienced a very complicated week due to the news coming from the Middle East, with a cumulative drop of 7% in the last five days. In fact, the balance is already negative so far in 2026 (-1.34%) and investors increasingly see the historical highs of 18,496.60 points from Thursday of last week further away.
All this in a climate of concern about the situation in the Middle Eastafter the air war unleashed by the US and Israel against Iran and the response of the ayatollah regime with attacks on other countries in the Persian Gulf region. Despite some information about discreet rapprochements between the countries in the fray, the truth is that today the end of the conflict does not seem close, while the Strait of Hormuza strategic route through which 20% of the world’s oil passes, remains closed to traffic.
Today the president of the United States, Donald Trumphas stirred up the hornet’s nest even more by announcing that There will be no agreement to end the war without an unconditional surrender of Iran. “After that, and after the election of a GREAT AND ACCEPTABLE leader, we, and many of our wonderful and brave allies and partners, will work tirelessly to rescue Iran from the brink of destruction, making it economically bigger, better and stronger than ever,” Trump says in a post on Truth Social where he presents his surrender ultimatum.
«IRAN WILL HAVE A GREAT FUTURE. LET’S MAKE IRAN GREAT AGAIN (MIGA)!» Trump writes.
With no signs of an end to the war in the short term, and with the Strait of Hormuz closed, The price of oil has become the main thermometer of the marketswith a strong increase that is compared to the one registered in March 2022 coinciding with another conflict, the Russian invasion of Ukraine. The benchmark Brent crude in Europe rises 6.40% today to $90.88 per barrel, while US West Texas oil futures soar 9.32% to $88.56, in highs since October 2023.
Contributing to today’s strong rise are statements from the Qatari Energy Minister to Financial Times warning that the war in the Middle East could force Gulf energy exporters to suspend shipments within days. Saad al-Kaabi has declared to the British newspaper that Crude oil prices could reach $150 per barrel in the coming weeks if oil tankers cannot pass through the Strait of Hormuz.
Given this scenario, it is not surprising that Repsol is one of the few IBEX 35 values that have been saved from burning this week. The oil company is receiving the support of investors in the heat of the new global geostrategic scenario, first with the business opportunity in Venezuela after the arrest of Nicolás Maduro, and now with the wind in favor of the very strong rise in oil prices due to the war in the Middle East.
Also in the news today is Iberdrola, which is accelerating its growth in Australia with the acquisition of its first wind farm in the state of Victoria. The acquisition of the Ararat wind farm, Iberdrola’s largest in the country, is part of the Group’s strategy of focusing its investments on its main businesses – generation with long-term contracts and regulated network assets – and in key markets. The operation reaffirms Iberdrola’s commitment to the expansion of electrification through renewables, networks and storage to promote self-sufficiency and energy security.
Meanwhile, Bankinter has communicated to the CNMV a correction regarding the call for its shareholders meeting, which will be held on March 26. At this meeting, the bank’s shareholders will vote, among other points, on the disbursement of a dividend of 0.15 euros gross per share. on April 2nd. The ex date will be March 31.
The three proprietary directors that GIP (BlackRock) had in Naturgy have resigned after the investment fund sold its 11.4% stake in the energy company earlier this week for almost 2,791 million euros, as the company has communicated to the CNMV. The three directors who have resigned from their positions are Lucy Chadwick, Rajaram Rao and Martin Catchpole, whom Naturgy has thanked for his services.
The British telecommunications company Zegona announced this Friday that the French asset manager AXA Investment Managers yesterday, March 5, completed the acquisition of 40% of Fiberpassthe fiber company created by Vodafone Spain and Telefónica.
In analyst recommendations, Jefferies cuts Amadeus’s target price to 65 euros per share, while UBS leaves it at 66 euros. Nevertheless. Both analysis houses still see a potential of more than 20% in a value that is suffering greatly due to the international situation.
On the other hand, Morgan Stanley raises Endesa’s target price from 28 euros to 31 euros per share. However, it is still below the current price.
Falls on Wall Street and Europe
The falls have been widespread today in the European stock markets, with the EURO STOXX 50, the main indicator of the Old Continent, falling 0.87% to 5,732.45 points. The DAX has fallen 0.60% and the CAC 40 has fallen 0.65%. In London, the FTSE 100 is down 1.22%.
The red numbers also dominate on Wall Street, with the Dow Jones not only on track for its second consecutive week of declines, but also its worst since October of last year. S&P 500 and Nasdaq will also fall during the week, although they have withstood the challenge better.
In addition to concerns about the war in Iran, the employment report published in the US today does not help to improve spirits either: Total non-agricultural employment decreased by 92,000 positions in February, and the unemployment rate barely changed, standing at 4.4%, as reported today by the US Bureau of Labor Statistics. Economists surveyed by Dow Jones had forecast growth of 50,000 jobs and the unemployment rate at 4.3%.
In addition, the January data is revised downwards, from 130,000 new payrolls to finally 126,000. In fact, with the revised figures also for December, no less than 69,000 jobs that had been previously reported have disappeared.
During the Asian session, the Japanese Nikkei 225 recovered 0.62% to 55,620.84 points. The South Korean Kospi, which has become a rollercoaster in recent days, today however closed practically flat, with an increase of 0.02%. In China, the CSI 300 rose 0.27%.
In fixed income, the yield on the ten-year Spanish bond ends the week at 3.348%, which leaves the risk premium against Germany at 49.95 points. On the other side of the Atlantic, the US ten-year bond pays 4.152%.
Meanwhile, the US dollar continues to gain strength against its international peers. Today the euro falls 0.25% against the greenback, leaving the exchange rate at 1.1579 dollars for each single currency.
Gold rises on Friday after weaker US jobs data kept hopes of a Federal Reserve rate cut alive, but posted its first weekly decline in five weeks as a strong dollar curbs gains. In its spot variety, it rises 1.3% to $5,144.69 per ounce.