Spanish Stock Market Resumes Normal Operations After Major Blackout

The market is operating as usual, just like it did yesterday. Redeia (Red Eléctrica) is experiencing the biggest impact, with a decline of 1.5%.

The Spanish stock exchange begins as usual following the significant blackout that plunged the whole of the Iberian Peninsula into darkness. Despite facing supply issues, trading wasn’t disrupted yesterday. The market has always been operational. According to the national manager of Bolsas y Mercados Españoles (BME), the stock market has implemented protocols automatically since it is considered a critical infrastructure. However, they have now confirmed that “everything is back to normal” after conducting an extensive review of all processes throughout the night to guarantee that operations proceed smoothly during the current session.

Similarly, the National Securities Market Commission (CNMV) has confirmed that market operations continued smoothly on par with Monday’s activities, even though a widespread power outage affected most of the country and persisted until early morning.

"All market conditions are set for today’s opening and operation just like they were yesterday," said the regulatory body in an early morning statement released to Europa Press. "The exchanges, MTFs (multilateral trading facilities), and related structures are functioning properly. We remain in continuous communication with BME to keep track of current developments in real time," noted the supervisory authority.

This past Monday, the Ibex 35 began the trading session with slight increases of under 0.2%. As the trading session continues, Red Eléctrica's share prices keep dropping further, ultimately decreasing by 1.5% on the domestic stock exchange.

The most significant increases include the Catalan fragrance company Puig, Indra, and ArcelorMittal. BBVA has risen by 1%, following the release of its latest financial results. The bank under Carlos Torres' leadership posted earnings of €2.698 billion today, marking a rise of 23% compared to last year’s figures.

Across Europe, modest rises can be observed as well, with Germany experiencing an uptick of 0.5%, and the London Footsie increasing slightly by 0.15%. At present, Italy’s FTSE Mib index appears particularly optimistic, registering a rise of 0.6%. Meanwhile, Wall Street futures indicate minor upward movements for this Tuesday.

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