Analysts at Jefferies lowered their recommendation on the Spanish SOCIMI Merlin, citing increased risks associated with its data centre portfolio, and stopped recommending it as a buy for all coverage firms.
The Spanish Ibex index has risen more than 41% in a 13‑month up‑trend, with only one down month. During this rally a group of stocks, including ArcelorMittal, Repsol, ACS, BBVA and Santander, have surged between 60% and 125%.
BBVA’s impressive earnings and the launch of a share repurchase plan acted as a catalyst for its share price and for the entire Spanish banking sector, which had suffered declines the previous day.
In July, a group of smaller Spanish companies—Prosegur, Deoleo, Ence, eDreams and Coca-Cola Europacific—experienced strong gains of 10% to 22%, surpassing the performance of major firms like Repsol and Indra and the overall Madrid Stock Exchange index, which slipped 0.22%.
Invesco believes that ongoing uncertainty will shape the second half of the year, presenting opportunities in alternative investments. The firm advises investors to diversify by allocating to private credit, real assets and hedge funds.
Ecoener issued convertible bonds worth €15 million. The bonds were taken up by family offices, and these investors will convert their holdings into equity in August 2029, becoming shareholders of the company.
CaixaBank reported record half‑year profit of €3.203 bn, up 8.5%, but its shares dropped nearly 7% on the market, reflecting investor concerns despite the strong earnings.
JPMorgan continues to ramp up short positions against Rovi despite the company’s recent rally following its earnings release, indicating a bearish stance on the Spanish pharma firm listed on the IBEX 35.
The week began with markets driven by a plunge in oil prices. Attention then shifted to the technology sector, especially the correction affecting the most speculative AI‑related investments. South Korea’s KOSPI fell 10%, while the IBEX 35 managed to withstand these pressures and remain close to its record highs.
Multiverse Computing SL, a Spanish AI computing firm, announced a $570 million capital raise that lifts its valuation to $1.7 billion, reflecting strong investor interest in lowering the cost of artificial‑intelligence usage.