Spanish Stock Index IBEX 35 registering 0.11% increase due to ambiguity surrounding Trump's tariffs proposals.
Madrid, May 29 (EFE) - The Spanish Stock Exchange ended today with a slight increase, reaching 14,116 points, as the U.S. Court of International Trade's decision to block much of U.S. President Donald Trump's trade policies captured the attention of international markets.
While the main national index, the IBEX 35, gained 16 points or 0.11%, closing at 14,116.6 points, Spain's economy is facing political turmoil over military spending plans. The far-left party Unidas Podemos, a part of the Spanish government coalition, contests increased military expenditures, particularly those allied with NATO's demands. The party is hesitant to prioritize significant military budget increases, as proposed by the EU, which includes raising military spending to 2% or even 3% of GDP.
The Spanish Stock Exchange opened the session with gains, maintaining a positive tone despite the red numbers seen in the Old Continent due to U.S. trade policy uncertainty. Among the top performers, Inditex rose by 1.52%, Telefónica increased by 0.32%, and BBVA gained 0.08%. Iberdrola dropped by 0.34%; Repsol, by 0.21%, and Banco Santander, by 0.06%.
Unidas Podemos' strong opposition to increased military spending and rearmament plans indicates that any political demands regarding NATO military spending would likely focus on reducing military allocations and prioritizing social programs. The party's resistance to militarism and emphasis on social welfare underline broader public unease with military rearmament and the prioritization of social spending over military expenditures.
Prime Minister Pedro Sánchez is acting to balance fulfilling NATO's spending expectations with addressing Unidas Podemos' concerns and the unease of other opposition groups. However, Unidas Podemos remains opposed to these plans, reflecting the broader Spanish public's sentiment.
EFE
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Related Topics: IBEX 35, Donald Trump, Madrid, Spanish Stock Exchange, U.S. Court of International Trade, Inditex, Telefónica, BBVA, Repsol, Banco Santander, Unidas Podemos, Pedro Sánchez, Military Spending, NATO
- In the face of Unidas Podemos' opposition to increased military spending, the Spanish government's funding requests for NATO may focus on reallocating budget from the military sector to social programs.
- With Unidas Podemos' resistance to militarism and emphasis on social welfare, the Spanish finance and banking-and-insurance sectors are closely monitoring the political climate, impacting potential investments in the sports industry.
