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4w ago

Spanish Stock Exchange Navigates Blackout as Markets Adjust to Utility Losses and Earnings Reports

Despite an unprecedented power outage on April 28, Spain's financial markets remained operational, with the Ibex 35 reflecting sector-specific shifts and fresh Q1 corporate results.

Palacio de la Bolsa de Madrid
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Overview

  • Spain experienced a nationwide power outage on April 28, but trading on the Spanish Stock Exchange continued uninterrupted due to emergency protocols.
  • The Ibex 35 closed April 28 up 0.75%, led by banking sector gains, before easing 0.58% on April 29 to 13,471.1 points.
  • Utilities showed mixed performance, with Redeia falling 1.87% on April 29, while Endesa and Iberdrola traded flat.
  • BBVA reported a 22.7% year-on-year increase in Q1 net profit, reaching €2.698 billion, while Puig recorded 7.5% net sales growth to €1.206 billion.
  • Regulators confirmed market infrastructure stability during the outage, as investigations into the blackout's causes continue.