US spot Ether ETFs recorded net outflows of $1.08 billion since the start of October, after adding $26 million on Tuesday, according to SoSoValue. The withdrawals erased September's $832 million in net inflows and leave year-to-date inflows at about $485 million. October is already the largest month of net outflows since November 2025. The outflows coincided with a 9.7% drop in Ether during the month, from $2,700 to $2,438.
Carrefour cut its 2026 targets due to the deterioration of the social and security situation in France, and its shares fell as much as 11.9% at Wednesday's open, making it the worst performer on the CAC 40. The company estimates the unrest will reduce operating profit by between 80 and 200 million euros. Third-quarter sales rose 3.9% to 22.694 billion euros. Morgan Stanley downgraded the stock to neutral.
Iberdrola has announced an interim dividend of 0.275 euros gross per share charged to 2026 results, 8.7% more than the previous year, according to its notice to the CNMV. The cash payment will be made on February 1, 2027, and after the 19% withholding, shareholders will receive 0.22275 euros net. The maximum total amount is 1,835.1 million euros. The last day to buy with the right is January 11, 2027.
A study by Ipsos for Amazon, titled "El valor de comparar: decisiones de compra y ahorro en los hogares en España", indicates that comparing prices is a savings strategy for 90% of consumers in Spain. In addition, 44% believe that shopping online helps them save on their regular purchases, and comparing prices across online stores has become a widespread practice.
The day began with data from Japan and the United Kingdom: Japanese exports rose 16.7% year on year and the trade deficit stood at JPY 536.6 bn. UK inflation rose to 3.5% year on year, above the 3.4% forecast, while core inflation reached 2.8%. Later, Canada's CPI, the EIA crude inventory report —with a forecast drop of 1.2 million barrels— and a 20-year US Treasury debt auction are due.
Iberdrola reported net income of 5,816.1 million euros in the first nine months of the year, up 9.6%, driven by the 953 million euro net capital gain from the sale of its Mexico business to Cox. Adjusted net income reached 5,140.5 million, up 8.8%, and adjusted Ebitda 11,890.6 million, up 7.5%. Revenue rose 8% to 34,405 million. The company raised its 2026 guidance to at least 10% growth in adjusted net income.
RBA Deputy Governor Andrew Hauser said inflation prospects are worse than previously expected and that underlying inflation could exceed forecasts, with capacity constraints exerting stronger pressure than expected. Goldman Sachs now expects a 25 basis point hike to 4.85% on November 3. The September CPI reading, due October 28, will be key. In Japan, BOJ Deputy Governor Himino warned against delaying monetary policy adjustments. In the US, pending home sales fell 7.3% in September.
Iberdrola aims to reach 10 billion euros in profit by 2030, driven by its networks business. Reported net profit reached 5.816 million between January and September, up 9.6%, while adjusted net profit stood at 5.140 million (+8.8%). Adjusted EBITDA was 11.890 million (+7.5%). The company keeps its BBB+ rating, holds more than 23.000 million in liquidity and raises its interim dividend 8.7% to 0.275 euros per share.
Iberdrola reported net profit of 5,816.1 million euros in the first nine months of 2026, up 9.6%, and adjusted net profit of 5,140.5 million, up 8.8%. Sales reached 34,405 million and reported EBITDA fell 0.7% to 11,890.6 million, while adjusted EBITDA rose 7.5%. Investments rose 13% to a record 10,087.2 million, and adjusted net financial debt closed at 54,561 million.
Electricity prices in Spain reach an average of 0.2047 euros per kilowatt hour (kWh) this Wednesday, October 21, 2026. The cheapest slot is between 14:00 and 15:00, at €0.01837/kWh, while the most expensive is between 20:00 and 21:00, at €0.41808/kWh. The lowest rates are concentrated between 14:00 and 17:00, and prices rise sharply from 18:00 onward.
Saitec Offshore Technologies, The Kansai Electric Power Company (KEPCO) and Japan's Kumagai Gumi signed a cooperation agreement that brings the latter in as a strategic partner of DemoSATH, the floating offshore wind demonstrator installed at the BiMEP test site in Armintza (Bizkaia). The deal extends the project's operational life until 2027 and opens a phase focused on research, optimisation and knowledge transfer, with Kumagai Gumi contributing its experience as a construction contractor.
Netflix shares fell more than 5% after its quarterly results failed to dispel investor concerns about a possible slowdown in viewing hours and revenue growth. In its third quarter, the company reported $12.87 billion in revenue and $3.7 billion in net profit, above expectations. According to media reports, it will cut about 6% of its workforce, some 1,000 jobs, and has named Peter Rice as its new head of content.
Unilever reduced greenhouse gas emissions from its own and leased sites —factories, offices and R&D centers— by 77% at the close of 2025 compared with 2015, according to its Climate Transition Action Plan. The company keeps its goal of cutting 100% of those emissions by 2030 and structures its strategy around three levers: transforming operations, product innovation and collaboration with its supply chain.
JPMorgan Asset Management has included bitcoin in its long-term capital market assumptions for the first time and estimates a 10% annualized return over the next decade, above stocks, bonds and gold. However, its scenario assumes 55% annual volatility, more than triple that of large-cap U.S. stocks, and the bank does not include it in its main portfolio models due to its unstable correlations with other assets.
Insurers' premium income reached 71.113 million euros at the end of the third quarter, up 10.36% from September 2025, according to ICEA data. Of the total, 39.317 million corresponded to the non-life segment, which rose 5.59% year on year, and 31.796 million to life, which grew 16.89%. Health posted the largest percentage increase, of 7.11%, to 10.670 million. Technical provisions stood at 233.703 million after rising 6.83% over twelve months.
AI-linked companies have issued $466 billion in debt so far in 2026, up from $101 billion in the same period last year, a 361% increase. Weekly trading volume in credit default swaps tied to seven major tech companies topped $9 billion in September, versus less than $2 billion in July. S&P Global Ratings estimates Alphabet, Amazon, Meta, Microsoft, Oracle and SpaceX will spend about $870 billion in capital investment in 2026, compared with around $470 billion in 2025.
The high cost of GLP-1 treatments and prescription restrictions are driving illegal sales in Brazil of tirzepatide from Paraguay and unregulated compounded preparations. Itaú BBA estimates off-pharmacy sales will reach nearly 19 billion reais this year, of which about 6.5 billion would come from Paraguayan products diverted into the country. Anvisa and the Federal Police are investigating the health risks, while pharmacy robberies targeting these drugs worry authorities.
Sabadell has enabled in-store payment with Bizum Pay at more than 340,000 merchants, a rollout that reaches large chains such as Eroski and Restaurant Brands, the group operating Burger King, Popeyes and Tim Hortons. The bank says all its clients with physical establishments already have terminals ready to accept these payments without replacing their existing card readers. Bizum launched in-store payments in May and by early October counted about 21 million enabled users and more than 1.7 million establishments able to accept them.
The DriveTN consortium, led by Ferrovial alongside Transurban and Tikehau, won in August the contract to build and operate for 50 years two tolled lanes in each direction along 42 kilometers of I-24, between Nashville and Murfreesboro. The work will cost 9.2 billion dollars and the consortium offered Tennessee a concession value of 24.8 billion, compared with bids from Sacyr and ACS of around 7 billion. The share went from about 55 euros before the award to 44.18 on Friday, nearly 20% lower.
Mynt, parent of the Philippine digital wallet GCash, closed unchanged on its first trading day on the Philippine Stock Exchange after raising about US$967 million in the largest initial public offering in the history of the Philippine market. Shares traded at 6.60 Philippine pesos, the same as the offer price, after briefly reaching 6.76 pesos. The deal raised about 60.9 billion Philippine pesos and surpassed Monde Nissin's 2021 IPO.
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