The Ibex 35 was trading flat in the mid-session, with a slight decrease of 0.04%, attentive to the evolution of geopolitical tensions, after this weekend Iran launched an attack with missiles and drones on Israel, which has repelled practically all of it.

XTB analyst Manuel Pinto points out that the latest market movements already indicated this escalation of tension in the Middle East and that the reaction of investors will depend on Israel’s response.

The broker’s base scenario considers that as long as Iran and Israel do not head into a direct war conflict, oil would not reach $100 per barrel, thanks in part to the Organization of the Petroleum Exporting Countries (OPEC), which could increase production. , and also thanks to the USA.

In this regard, Pinto highlights the importance of presidential elections in the US in a few months, where a rise in oil can lead to a loss of votes for the country’s president, Joe Biden. “In addition, sanctioning Iran would not only cause further increases in the price of a barrel, but would also benefit Russia, which could gain greater market share,” he adds.

In this context, the Ibex 35 was trading at 10,681.9 integers, with Unicaja as a bullish value, with a rise of 1.40%, followed by Sabadell (1.25%), Indra (0.98%), BBVA ( 0.80%) and IAG (0.74%). Behind them were Solaria (-2.03%), Ferrovial (-1.92%), Acciona (-1.91%), Merlin (-1.55%) and Cellnex (-1.29%).

The main European stock markets were trading higher, with increases of 0.97% in Milan, 0.84% ​​in Frankfurt and 0.72% in Paris. Only London lost 0.42% in the mid-session this Monday.

At the beginning of the trading session, the price of a barrel of Brent, the reference oil for Europe, fell by almost 1%, reaching a price below 90 dollars despite the tensions in the Middle East.

Specifically, at the opening of the Old Continent Stock Markets, the price of a barrel of Brent crude oil stood at 89.60 dollars, compared to 90.45 dollars at the previous close and far from the more than 92 dollars that it reached. on Friday.

Likewise, the price of West Texas Intermediate crude oil, the benchmark for the United States, fell 1.06%, to $84.75, compared to $85.66 at the previous close.

In the foreign exchange market, the price of the euro against the dollar advanced to 1.0656 ‘greenbacks’, while in the debt market the interest required on the 10-year Spanish bond climbed to 3.206%, with the premium risk at 82 basis points.