Spain's Ibex 35 opened Wednesday's session down 0.48% at 19,068.9 points, but shortly afterwards widened its losses to 1.2% and lost the 19,000 mark, standing at 18,934. Markets are awaiting corporate earnings and the Federal Reserve's decision, which analysts expect to leave rates unchanged after the hike at its previous meeting. Brent rose 2.1% to $116.1 and WTI gained 2.2% to $102.1.
Mapfre will pay an interim dividend of 0.08 euros gross per share against 2026 results on November 26, 14.3% more than the previous year's interim payout, as reported to the CNMV alongside its results through September. The last day to buy with the right is November 23 and the ex-dividend date is November 24. After the 19% withholding, the net amount is 0.0648 euros per share. The insurer earned 924.3 million through September, 11.5% more.
Ferrovial posted an operating profit of 848 million euros in the first nine months of 2026, 12% less than the 966 million of the same period a year earlier, due to the larger capital gains from asset sales booked then. Revenue rose 7.1% to 7,402 million, with gains in all divisions except airports, which fell 14.4% on the impact of the war in Iran on traffic. Adjusted Ebitda rose 17.4% to 1,210 million.
Redeia reported a net profit of 410.3 million euros in the first nine months of the year, up 5.3% from 389.8 million in the same period a year earlier. Accumulated revenue reached 1,352.4 million, up 7.2%, and EBITDA stood at 1,001.4 million (+5.3%). Investments totaled 1,138.9 million (+17.7%), with nearly 96% allocated to Red Eléctrica. Net financial debt reached 5,600.8 million and the board approved an interim dividend of 0.2040 euros per share.
Grupo Eroski has added "in-store Bizum" as a payment method in its stores, and Caprabo, part of the same parent company, confirmed a similar move extending Bizum to its physical supermarkets and its digital channel. Across the rest of Eroski's network the service will roll out gradually and, in an initial phase, will be limited to the food business, excluding Forum Sport and petrol stations. The company says the extension depends on the availability of in-store Bizum among banks.
Grupo Planeta chairman José Creuheras said the group posted revenue of about 2.2 billion euros in 2025. Gross operating profit (EBITDA) was 410 million, only two million more than the previous year, due to a 50.7% decline in the audiovisual business. In 2024, Planeta Corporación's annual accounts showed operating revenue of 2.321 billion and net turnover of 1.989 billion.
Mapfre posted a net profit of 924.3 million euros in the first nine months of 2024, up 11.5% from the same period last year. Total revenue reached 27,239.7 million, up 3%, and issued and accepted premiums totaled 22,826.7 million, up 2%. The August earthquake in Colombia had an estimated after-tax cost of 83 million for the group, of which 75 million came from the reinsurance business.
The session will be dominated by central bank decisions, with the main events scheduled for the second half of the day. The Bank of Canada will announce its monetary policy decision and publish its Monetary Policy Report; consensus expects a rate of 2.50%, versus 2.25% previously. Later, the Fed will announce its decision, with expectations of keeping the federal funds target range at 3.75–4.00%. US September trade balance, crude and gasoline inventories, and Alphabet and Microsoft earnings are also due.
Markets expect the Federal Reserve to keep interest rates unchanged, with attention on Chair Warsh's signals about December. US Treasury yields remain near 5%. Brent rises 1.36% to $111.20 a barrel after the Houthis reported a missile attack on Saudi Arabia's largest refinery, with no official confirmation of damage yet. In Australia, trimmed mean inflation reached 3.7% year-on-year and the RBNZ held the OCR at 2.75%.
Halloween candy sales fell 6.7% in the month ended October 17 compared with the same period a year earlier, according to NielsenIQ, which also recorded an 11.7% drop in mid-September. High living costs and gasoline prices are weighing on demand: a gallon of regular gasoline averaged $4.29, nearly 40% more than a year earlier. Candy and gum prices rose 44% over five years, above the 22.5% increase for food consumed at home.
Mapfre's Board of Directors has approved an interim dividend against 2026 results of 8 cents per share, payable on November 26. The amount represents a 14.3% increase over the interim dividend paid against the previous year's results. With this increase, the total dividend for 2026 will reach 19 cents per share, 15.2% more than in 2025, equivalent to 585 million euros.
Santander earned 12.405 million euros between January and September, 20% more than in the same period a year earlier, driven by 1.895 million in capital gains from the sale of its Polish business, partly offset by 666 million in costs from the TSB and Webster acquisitions. Excluding one-off effects, profit was 11.176 million, up 16%. In the third quarter, profit fell 2% to 3.432 million due to restructuring costs from both purchases.
US banks including Morgan Stanley, JPMorgan, Bank of America and Citi have refused to assume the errors of AI agents acting on behalf of their clients, and the trend could spread to European institutions. Spanish banks' legal terms will incorporate the scope of these agents' actions, while Wells Fargo will apply from November 24 a clause deeming certain agent instructions authorized by the client. The CJEU ruled that for an unauthorized payment the provider must refund the amount by the next business day, unless there is a well-founded suspicion of fraud.
British digital bank Monzo is scrapping its waiting list in Spain from 28 October and closing its Beta phase, so any resident can sign up by providing proof of address. The lender, founded in London in 2015 with more than 16 million customers in the UK, entered the country in May. It offers a no-maintenance-fee account, physical and virtual cards, and a savings pot paying 2.50% APR (2.47% nominal) on the first 100,000 euros.
Rising mortgage costs and tighter conditions have caused a collapse in lending across the eurozone, with Spain at the forefront. According to the European Central Bank, lenders recorded a 40% drop in mortgage applications, compared with 30% in the previous quarter and 27% for the European average. The increase is mainly attributed to the rise in official interest rates: banks did not raise requirements for customers, but they did raise the cost of contracting a loan.
Jio Platforms, the telecommunications and digital services unit of Reliance Industries, closed its first trading day with a 21% gain over its initial public offering price. Shares opened at ₹1,358 versus the ₹1,119 placement price. The deal raised US$3.2 billion and drew orders worth more than US$77 billion, making it the largest and most oversubscribed IPO in India's history. After the debut, the company was valued at around US$131.9 billion.
BlackRock's fifteenth Annual Global Insurance Report, surveying 463 senior investment professionals across 31 markets representing $24 trillion in assets, indicates that inflation remains the main macroeconomic concern and that recession fears fell by nearly half. In Spain, 71% are maintaining their risk level versus 82% globally, 86% expect a soft landing in developed markets and 93% establish partnerships across multiple business areas.
British neobank Monzo is entering Spain, its first market outside the UK, with a free bank account and debit card, with no fees or conditions. Its interest-bearing account pays 4% AER on the first 5,000 euros and 2.5% on the rest up to 100,000 euros. Monzo, which has 16 million customers in the UK, has built a team of 80 people with an office in Madrid and a technology centre in Barcelona.
The average vote against remuneration policies at Ibex companies moderated to 6.6% in 2026, down from a record 11.5% in 2025, while rejection at the continuous market more than doubled from 6% to 12.6%, the highest level in the series, according to Georgeson's annual study. Adverse recommendations from proxy advisors fell nine points at the Ibex to 27% and rose to 61% at the continuous market from 44%.
The Brazilian stock market lost more than 180 billion euros in value on Monday after the re-election of Luiz Inácio Lula da Silva, with the Bovespa falling 13.4%, while the real and public debt also slumped. After the initial punishment, investors appear to have given Lula a breather: on Tuesday the real and the stock market traded with modest gains. Attention now focuses on the appointments in the economic area and on the fiscal plans for 2027.
