Spain's Ibex 35 closed nearly unchanged on Monday, comfortably holding the 20,000-point level it reached six days earlier. The session brought no major swings across the main stock indexes.
Within the index, Indra stood out after a strong summer on the market, reaching an all-time high near 64 euros, a gain of 31.4% during 2026. The Spanish defense company recently reported its best-ever half-year results, with strong growth in revenue and profit, a record order book, and its defense unit as the main driver. The bullish case rests on Europe's defense investment cycle and strong order visibility, though the market is now demanding solid execution and the conversion of that order book into revenue and cash.
Oil prices lift Repsol
Repsol also stood out, rising 1.8% intraday, as oil prices climbed on the continuing conflict between Iran and the United States, maritime attacks between the two countries, and the de facto closure of the Strait of Hormuz. That situation is keeping the geopolitical risk premium elevated, with Brent crude trading above 86 dollars a barrel. Talks to reopen the trade route are progressing slowly, with the Trump administration seeking greater economic pressure on Iran. Doubts over a peace agreement are keeping uncertainty high in commodity prices.
Wall Street eyes inflation data
Wall Street opened with a slightly bearish tone, in a week when corporate earnings reports are giving way to greater interest in the year-on-year inflation figure for July. If the reading comes in below the current 3.5%, it would raise the chances that Kevin Warsh keeps interest rates unchanged rather than raising them at the Federal Reserve's meeting in September.
