Financial markets shrug off the US military intervention in Venezuela and the capture of Nicolás Maduro, as the Ibex 35 surpasses 17,600 points. European and US stock indices rise moderately, while oil prices climb 1%. Investors choose caution amid geopolitical risks.
On January 5, 2026, financial markets opened optimistically after the holiday closure, largely overlooking the US attack on Venezuela the previous Saturday, which led to the detention of President Nicolás Maduro. The Ibex 35 rose 0.7% and hit a new all-time high above 17,600 points, driven by stocks like Indra, up 9.7%, Repsol with 3.5%, and Fluidra at 3%. In contrast, Bankinter dropped 1.79%, followed by Naturgy (-1.1%) and ArcelorMittal (-0.85%).
Across Europe, the German Dax gained 1.3%, the Italian Mib 1%, and the Euro Stoxx 1.25%, with notable rises in defense stocks such as Rheinmetall (+9.5%) and Leonardo (+6%). In Asia, the Nikkei and Kospi climbed over 3%, boosted by artificial intelligence and defense firms. In the US, the Dow Jones advanced 1.2%, Nasdaq 0.7%, and S&P 500 0.6%.
Brent crude oil prices rose 1% to 61.46 dollars per barrel, and WTI 1.27% to 58 dollars, following OPEC+'s decision to keep supply unchanged until April. Major oil companies like Repsol and Chevron benefited, rising 3.5% and over 5%, respectively. President Donald Trump threatened further attacks if interim President Delcy Rodríguez fails to cooperate, stating: “If they don't behave, we will launch a second attack.” He also warned Colombia, Mexico, and Cuba.
Experts like Raphaël Thuin from Tikehau Capital emphasize that investors focus on fundamental factors such as economic growth and inflation, beyond geopolitical risks. Tai Hui from JP Morgan Asset Management observes that markets do not efficiently price these risks. The dollar strengthened 0.3% against the euro to 1.1717 dollars, and gold rose 3% to 4,458 dollars per ounce. Neil Shearing from Capital Economics views significant short-term economic impacts as unlikely, though geopolitical ramifications persist.
