Spot gold rose 0.2% to $4,005.41 an ounce in Monday's Asian session, after falling 4.1% the previous week and slipping below $4,000 on Friday for the first time since mid-July. Markets await the Federal Reserve's meeting on October 27-28 and the release of the PCE index on October 29, amid higher energy prices and 10-year Treasury yields near 5%.
Rabbalshede Kraft confirmed that the Lönhult wind farm, in the Swedish municipality of Aneby, is in the stage prior to entering commercial operation. The facility totals 24.8 MW across four Vestas V162 turbines of 6.2 MW and 206 meters in height. Construction began in 2025 and generation was moved up to late November 2026, from the start previously planned for early 2027. One third of its electricity will be sold to NKT Cables under a ten-year PPA.
Spanish home renovation company Aquí tu Reforma will enter the Italian and French markets with a commercial delegation model linked to its Spanish headquarters, different from the master-franchise strategy used so far. The company expects to sign its first contracts late this year and to close around 15 licences in each country before the end of 2027, with a business volume of 45 million euros over the next three years.
Deckers Brands, parent of Hoka, Ugg and Teva, raised its profit guidance for fiscal 2027, which ends March 31, 2027, while lowering its sales targets. In the second fiscal quarter it posted revenue of $1.481 billion, up 3.5% year on year but below the $1.510 billion expected by analysts. Hoka grew 6.8% and Ugg 3.5%, while the direct-to-consumer business fell 1.8%. Diluted earnings per share rose to $2.31 from $1.82.
Revolut announced Revolut Ventures, a platform created with Carne Group to give eligible investors access to private tech companies, a segment previously reserved for high-net-worth individuals and institutions. The company says the median age of tech firms at IPO rose from 6.9 years in 2014 to 11 years in 2025. The platform is expected to be available in 2027 and integrated into the app alongside stocks, ETFs, bonds and money market funds. Revolut warns these investments are harder to sell and could involve substantial losses.
Grupo Bimbo launched the Bimbitos, a collection of five charms and plush-style keychains inspired by its brands and products: the Osito Bimbo, a slice of sliced bread, a donut, a chocolate-chip sponge cake from Weikis and a Takis figure. The more than 300,000 units are handed out at supermarkets and convenience stores with the purchase of two company products, until October 31 or while stocks last, under the blind box or "mystery box" format.
Brent fell more than 6% on Monday, from about $117.4 a barrel at Friday's close to around $110, as diplomatic efforts to calm the war with Iran gained momentum and Donald Trump signaled he is weighing a deal with Tehran. West Texas Intermediate was down about 2%, to $101.5. Investors also await decisions from the Fed, the ECB and the Bank of Japan and a heavy week of corporate earnings.
The price of 95-octane gasoline in Madrid stands at 1.72 euros per liter this Monday, October 26, 2026, a 0.53% change from yesterday's figure. Diesel A falls 0.15% in 24 hours to 1.87 euros per liter on average. In Madrid, diesel A ranges from 1.699 to 2.054 euros, gasoline 95 from 1.559 to 1.889 euros and gasoline 98 from 1.729 to 2.039 euros per liter.
Telefónica shares opened the session down 7.5% after Luiz Inácio Lula da Silva's victory in Brazil and J.P. Morgan's doubts about its debt. The stock fell to 3.13 euros, its lowest since December 2020, with 1.78 million shares traded, five times the average. Brazil accounts for about 31.7% of the group's revenue and 38% of its EBITDA. JPMorgan cut its rating to "underweight" and lowered its price target to 3.20 euros.
Morgan Stanley estimates that Chinese stocks listed abroad could fall another 10% to 15% before reaching their historical valuation level, around eight times forward earnings for the next 12 months. The analysts, including Laura Wang, attribute the correction to weakening growth and consumption, concerns over the investment fund tax, pressure on e-commerce and global volatility. In mainland China they expect a similar downward revision, to 10-11 times earnings.
After Lula da Silva's victory over Flavio Bolsonaro in Brazil's runoff, Mercado Libre shares fall about 10% in Wall Street premarket trading, according to early reports. Nubank shares plunge more than 22% before the official market open and the real weakens against the dollar. Brazil is Mercado Libre's main market: in 2025 it accounted for 52.6% of the group's US$28.893 billion in billings.
Telefónica faced two bearish pressures before the open: Lula da Silva's victory in Brazil's runoff election and a double downgrade from JPMorgan. The bank drops its neutral rating and moves to underweight, cutting its price target by 13%, from 3.70 to 3.20 euros per share. The shares fell as much as 8% and dropped to around 3.10 euros at intraday lows.
Luiz Inácio Lula da Silva won Brazil's runoff election with 51.79% of the vote against 48.21% for Flávio Bolsonaro, a result that polls and prediction platforms had not anticipated. November real futures fell 9.12% to about 5.51 reais per dollar, and an ETF tracking the Ibovespa plunged 12.72% in Tokyo. The Ibex 35 opened down 0.92%, dragged by Telefónica (-5.77%) and Santander (-5.13%).
José Landaverde, director of Seguros Azteca, said the Protección Riesgos Digitales policy does not cover online fraud if the customer handed over their PIN, but it does respond when the handover happens under extortion. The product, with coverage of up to 45,000 pesos a year and a cost of 55 pesos a month, covers online fraud, theft and identity impersonation and cyber extortion, and can extend to accounts at other banks. Condusef reported claims worth 11,213 million pesos in the first half of 2026.
Home sales reached 49,319 transactions in August, up 3.4% from the same month a year earlier but 19.7% below July, according to INE. So far this year they total 458,200, down 2.3% from the same period in 2025. That month, 33,841 mortgages for home purchases were signed, up 2.3% year on year and 22% less than in July.
Spain's Ibex 35 opened Monday's session down 0.92% at 18,815 points, in a context marked by the war in Iran, uncertainty over crude supply, the outcome of Brazil's elections and corporate earnings releases. Telefónica (-5.77%), Santander (-5.13%) and Mapfre (-3.28%) posted the steepest declines, while Solaria (+1.57%) and IAG (+1.25%) led gains. Brent fell 1.1% to $115.41 and the euro traded at $1.1208.
Investors face three monetary policy decisions within 72 hours: the Fed on Wednesday 28, the ECB on Thursday 29 and the Bank of Japan on Friday 30. Consensus assumes none will touch rates, with the Fed at 3.75%-4.00% and the ECB deposit facility at 2.50%. The focus will be on whether Warsh and Lagarde leave the door open to December and on the two additional hikes the market discounts for 2027, with Brent at six-month highs.
CLAAS is strengthening its production capacity in Paderborn (Germany) with an investment of more than 70 million euros that coincides with the plant's 70th anniversary, aimed at increasing output of transmission systems and TERRA TRAC crawler tracks and adding robotics, automation, digitalization and artificial intelligence. In Törökszentmiklós (Hungary) it began construction of a new finishing and finished-product handling center. It also inaugurated a 4,160 m2 R&D center in Omaha (USA), part of a 100 million dollar plan for the region.
Home sales resumed their upward trend after rising 3.4% year-on-year in August to 49,319 transactions, following July's 5.1% decline. New-home transactions grew 4.9% (10,521) and second-hand home sales rose 3% (38,798). Mortgages on homes increased 2.3% to 33,841 loans, their highest figure for an August since 2022, with an average interest rate of 3.08% and an average amount of 181,285 euros.
The Ibex companies with the greatest exposure to the Brazilian market are wiping out the gains they posted on October 5, after the first round of Brazil's elections, and are now falling sharply after Lula da Silva won the runoff with 51.76% of the vote against 48.24% for Bolsonaro. Telefónica leads the index's losses with a drop of up to 8%, while Santander falls as much as 5%.
