The Ibex 35 opens practically flat, with its sights set on Jackson Hole and Trump and Zelensky.

by August 19, 2025
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MADRID, 18 (EUROPA PRESS)

The Ibex 35 opened Monday's session virtually flat, with a slight decline of just 0.03%, which placed it at 15,272 points, on a day with few macroeconomic references and with investors focused on the central bankers' summit, which begins Thursday in Jackson Hole, Wyoming.

A few minutes after the opening bell, the index fell 0.30% to 15,236 points. The Frankfurt Stock Exchange (-0.3%) and Paris Stock Exchange (-0.2%) also fell, while London rose slightly, failing to reach tenths of a percentage point.

Following this weekend's meeting between Donald Trump and Vladimir Putin, Ukrainian President Volodymyr Zelensky and the US president will meet in Washington on Monday.

The so-called "coalition of the willing," the group of Ukrainian allies committed to participating in a hypothetical mission to guarantee the security of Kyiv following a peace agreement with Russia, will accompany Ukrainian President Volodymyr Zelensky to the White House on Monday to present a "united front" to the US president.

Specifically, European Commission President Ursula von der Leyen and the leaders of Germany, France, the United Kingdom, Italy, and Finland, along with NATO Secretary General Mark Rutte, will accompany Zelensky to his meeting with the US president.

Trump is seeking a quick peace agreement to end the war between Ukraine and Russia , and has warned in recent hours that the return of the Crimean peninsula—annexed by Russia in 2014—and Ukraine's accession to NATO will be off the table.

On the financial front, the highlight of this week will be the annual meeting of central bankers in Jackson Hole, which begins next Thursday.

Federal Reserve Chairman Jerome Powell, whom Trump wants to oust, will host the annual gathering, which has been held at this mountain resort since 1982 and will be attended by European Central Bank President Christine Lagarde.

Analysts expect the Fed to ease its monetary policy starting in September, so investors will be closely monitoring Powell's messages during this summit.

The Ibex 35 reached a historic milestone last week, as the index once again reached 15,000 points, a level it hadn't reached since 2007, bringing it closer to its all-time high of 15,945 points.

In the early stages of Monday's session, the largest gains within the Ibex 35 were recorded by Iberdrola (+0.55%), Indra (+0.53%), Solaria and Redeia (+0.49% in both cases) and Naturgy (+0.44%), while the sharpest declines were recorded by ArcelorMittal (-1.3%), CaixaBank (-0.57%) and Banco Santander (-0.40%).

The price of a barrel of Brent crude, the benchmark for Europe, rose 0.3% at the opening of European stock markets to $66.05, while West Texas Intermediate (WTI), the benchmark for the United States, advanced 0.4% to $62.27.

In the foreign exchange market, the euro was trading at 1.1696 greenbacks against the dollar, while the interest rate on the 10-year bond eased to 3.339%.

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