Spain Stocks Gain Some Ground

The IBEX 35 rose to 10,610 on Wednesday, rebounding slightly from yesterday's losses, as investors shrugged off Powell's hawkish comments and focused on corporate news.

The index was pulled by banks, Unicaja (2.2%), Banco Santander (1.6%), BBVA (1.5%), CaixaBank (1.5%), Banco Sabadell (1.8%), and Bankinter (1.4%), with the latter announcing the sale of its Atom Hoteles Socimi for one billion euros.

Also, Sacyr added 1.7%, while Iberdrola advanced by 0.8% after seeing a raise in its target price from HSBC experts.

As for Naturgy, it opened positively but the CNMV suspended its trade amid rumors of entrance of new investor into the capital.

On the negative side, energy companies Solaria Energía (-1.5%), Acciona Energía (-0.9%), Enagás (-0.7%) dragged, and Acciona was flat impacted by its decision to reduce footprint in Brazil's renewable sector.