—IBEX 35 · no confirmed figure

DailyDrop.

—EUR/USD · no confirmed figure
IBEX 35—EUR/USD—S&P 500—WTI—Gold—
Spain · PoliticsPress ✓ 9 outlets · Morocco’s reaction, unconfirmed

The King and Queen visit Ceuta, the first royal visit in 19 years, and Felipe VI says its sovereignty “is not negotiable”

The King asked that migrants who entered irregularly return to their country “as soon as possible,” and the Government approved 45.3 million in aid for the city. Rabat has not reacted officially, according to El País.

Felipe VI and Queen Letizia visited Ceuta on Tuesday. It is the first time the King and Queen have travelled to the city since they began their reign and the first visit by a head of state since Juan Carlos I’s in 2007, according to ABC, El Confidencial and El País. Thousands of people welcomed them with flags and cheers (El País, La Vanguardia). The city’s president, Juan Jesús Vivas, told them the visit brings “hope” to Ceutans who feel they are in a “tunnel with no way out” (Europa Press), spoke of “the greatest security crisis of the democracy” (ABC) and warned that Ceuta is “a pressure cooker” (El País). According to Antena 3, the royal party observed a minute of silence for those who died in the mass entry of migrants in late July.

The most repeated line was the King’s: “Sovereignty and territorial integrity are not negotiable and, in the face of any risk, our obligation is to defend them” (El País, El Mundo, El Confidencial). Europa Press sums up the message as “Ceuta is Spain,” and El Confidencial reports that Felipe VI called Ceuta and Melilla “non-renounceable” and told Ceutans: “You are not alone.” ABC adds that he asked for the return “as soon as possible” of those who entered irregularly, and La Vanguardia speaks of a demand for “good faith” from Morocco.

Brussels and the Government moved along the same line. The president of the European Commission, Ursula von der Leyen, called for the quick return to Morocco of those migrants (El Mundo, ABC, RTVE) while also backing stronger cooperation with Rabat (El País). The Government approved urgent aid of 45.3 million euros (El Faro de Ceuta); the Moncloa website speaks of 45 million to guarantee the city’s financial stability. According to ABC, the European Parliament will process including Ceuta and Melilla among the Union’s outermost regions; this comes from a single outlet.

The prime minister, Pedro Sánchez, was not in Ceuta. Feijóo reproached him for leaving the King “alone” and said he would not have done so (La Vanguardia, El Confidencial, El Mundo), while the Government defended the visit and said it does not fear reprisals (La Vanguardia). Onda Cero reports that minister Ángel Víctor Torres was booed during the greeting from the City Hall balcony while the King and Queen were given an ovation; this is a single-outlet report.

Today it is worth looking to Rabat. El País reports that Morocco officially ignored the visit, with no reprisals or protests; El Mundo maintains that the Government does not rule out withdrawing its ambassador. These are two versions and neither is confirmed. With 46 days to Nov. 29, the trip is already part of the campaign.

Unfold the story and DailyDrop’s take
By the numbers
19 yearssince the last visit by a head of state to Ceuta (2007)
€45.3Murgent Government aid (El Faro de Ceuta)
46 daysuntil the Nov. 29 election
Spain · PoliticsPress ✓ 8 outlets · how the electoral roll will be updated, unconfirmed

The Government writes off the court battle over the grandchildren law and sees applying the Supreme Court’s ban as “extremely complex”

Moncloa says it will comply with the Supreme Court ruling that suspends the vote of those naturalized under the grandchildren law, but sees it as very difficult to remove all of them from the electoral roll a month and a half before Nov. 29 (20minutos). El Confidencial goes further: the Executive has written off the court battle and considers applying the suspension “extremely complex.” There will be no Government appeal to the Constitutional Court, because only those affected may appeal (20minutos, El Confidencial), and Europa Press recalls that the Supreme Court reaffirmed its doubts without ruling on the merits. According to ABC, Conde-Pumpido does not want another clash with the Supreme Court before Nov. 29; this is information from a single outlet.

On Tuesday, the Government had said that “in a democracy the right to vote is guaranteed, not restricted” (RTVE, Europa Press) and had spoken of “Trumpism” (El Mundo). Feijóo replied that “there is no democratic cleanliness without a clean electoral roll” (El País, Europa Press). The PSOE lashed out at the Supreme Court for preventing some 163,000 naturalized citizens from voting (La Razón), and the General Council of Spanish Citizens Abroad (Consejo General de la Ciudadanía Española en el Exterior) will ask the Ombudsman (Defensor del Pueblo) to examine the suspension “urgently” (El Mundo, Ultima Hora). El País gathers the testimony of those affected, such as a naturalized woman who says she is “ready to do anything to recover her vote”; this is the account of a single outlet. Today it is worth watching who appeals and how the electoral roll is updated; it can be consulted until Oct. 19 (Revista 360y5).

Unfold
Word of the day
OmbudsmanInstitutions

High commissioner of the Cortes who oversees the administrations and handles citizens’ complaints. It investigates and recommends, but does not overturn rulings.


World · HealthPress ✓ 9 outlets · stage of the disease, unconfirmed

The Vatican confirms that Leo XIV has lung cancer after the operation in which part of his lung was removed

Pope Leo XIV has lung cancer. The Vatican confirmed it on Tuesday night, hours after the operation at Rome’s Gemelli hospital, according to the Associated Press, Politico and Expansión. The agency specifies that doctors removed part of his right lung. The procedure had ended “successfully” according to the first medical bulletin (ABC, RTVE, Europa Press, LaSexta) and the Pontiff returned to his room (LaSexta). The BBC explains that the tumor is an adenocarcinoma, a type of lung cancer; it is the only outlet reviewed that gives that detail. Until then, the Vatican had spoken of removing a lung nodule and, according to Livemint (in what we reported yesterday), had not said whether it was malignant. The Pope is 71 years old, according to Al Jazeera.

Marco Rubio and several governments in the Americas expressed their support for the Pope (20minutos). The operation comes weeks before his first trip to South America (BBC), planned for Nov. 6 as we reported yesterday, and his audiences remain cancelled until Oct. 20. We have not been able to confirm with two sources the stage of the disease or whether he will need further treatment. Today it is worth waiting for the next medical bulletin and seeing whether the Vatican keeps the trip.

Unfold
EconomyPress ✓ 9 outlets · the 3.7% inflation figure, from a single outlet

The IMF raises Spain’s 2026 growth to 2.5% and fears a sharp rise in risk premiums

The International Monetary Fund (IMF) raised to 2.5% its forecast for growth of the Spanish economy in 2026, according to ABC, Expansión, 20minutos, El País, La Vanguardia and LaSexta. That is more than double the eurozone (20minutos), and El País and El Economista present it as the big economy growing fastest, ahead of the United States and at triple the rate of France and Italy. LaSexta adds that the Fund puts inflation at 3.7%, a figure we have not been able to cross-check with another outlet, and El Correo and Expansión warn that the pace will cool in 2027 because of prices.

El País also reports that the IMF fears an abrupt rise in risk premiums because of the deterioration of public finances and high inflation. Globally, the Fund improves its growth forecast thanks to the artificial intelligence boom, but warns of the cost of debt and of cyberattacks (El Mundo) and of a possible correction in the AI market (Reuters).

The same Tuesday, the Treasury paid its highest rates in two years on three- and nine-month Treasury bills (Letras del Tesoro) (El País, El Correo); the nine-month ones yielded around 2.96% (Expansión, Finect). And CC OO and UGT asked for the minimum wage to rise by at least 7% in 2027, to 1,306.5 euros (El Mundo, Europa Press, 20minutos), a demand that Expansión presents as pressure on Yolanda Díaz ahead of the election.

Unfold

MarketsPress ✓ 5 outlets · Wall Street closes, unconfirmed

The IBEX 35 slips 0.4% and stays around 19,200 points as U.S. banks open earnings season

The IBEX 35 shed 0.39% on Tuesday (ABC) and 0.4% (TradingView) and stayed around 19,200 points, in a cautious session after the National Day (Radio Intereconomía). XTB and Expansión attribute the weakness to doubts about artificial intelligence, and TradingView to the start of the earnings season in the United States. We have not been able to confirm with two sources the exact closing level of the IBEX or those of Wall Street, oil, gold or the euro, so the two boxes at the top appear without a figure.

The big U.S. banks reported uneven results: JPMorgan had a rare miss against forecasts, while Goldman Sachs and Citi beat estimates and Wells Fargo earned more (Reuters). Goldman Sachs raised its profit 40% through September, to $17.5 billion (Expansión). The U.S. Treasury fined Bank of America about $1.2 billion for failures in monitoring suspicious transactions (Reuters, Bloomberg, El Mundo, Expansión). Reuters reports that U.S. chip stocks extended their fall, and the Associated Press that South Korea’s Kospi plunged more than 5% on Tuesday on semiconductor selling.

Today the focus is on U.S. inflation. Reuters speaks of a weak dollar awaiting the CPI and speeches from the Federal Reserve. On Tuesday, Collins saw another rate hike as possible before the year ends (Reuters) and Williams considered one more appropriate in 2026 (FinancialJuice). Asian stock markets rose on Wednesday with the pressure on chips somewhat calmer (Reuters), and China reported that its September exports grew 36.3% in dollar terms, against the 25.5% analysts expected (FinancialJuice, Reuters, Financial Times).

Unfold
In brief
  • The White House asked its ambassador to Greece, Kimberly Guilfoyle, to resign after several scandals and conflicts of interest.Reuters · El País · ABC
  • Apple unveils HomeView, a $299 display with a revamped AI-powered Siri to control the home.BNN Bloomberg · Expansión · El País
  • A drone attack sinks a freighter off the coast of Bulgaria; Sofia blames Russia and asks NATO for help.Reuters · La Vanguardia · 20minutos
  • Formula 1 will return to Africa: Rwanda will host ten races starting in 2030.El País · El Mundo · La Voz de Galicia
  • Spain draws 2-2 with the U.S. in Alexia Putellas’s 150th match with the national team.El País · 20minutos · EFE
  • Judge Pedraz charges the former judge allegedly in contact with Los Rochos to harass judge Biedma; the Interior Ministry assigns an escort from today.El Mundo · 20minutos · El País
  • The gang member convicted of the murder of Tupac Shakur receives a minimum sentence of 40 years.El País
  • ECB president Christine Lagarde rules out running for the presidency of France.FinancialJuice
Seven minutes every morning, one front page

Unverified — what we could not confirm

“There is an energy truce between Russia and Ukraine.” Not confirmed. Trump insists that “there is a deal because I have said there is a deal” (RTVE), but Russia hit a Kyiv power plant on Tuesday night (Reuters, DW, BBC).
“Morocco will withdraw its ambassador over the royal visit.” Only El Mundo reports it, saying the Government “does not rule it out.” El País writes that Rabat officially ignored the visit without reprisals, and the Government says it does not fear them (La Vanguardia).
“Spain intercepted orders from the Moroccan Navy to fishing boats to violate Spanish waters.” Only ABC reports it among the outlets reviewed. We have seen no confirmation from the Government or other outlets.
Glossary · dotted words — politics, economics, law and science terms explained in the context of the story. The list grows every day.
INSIDEThe King and Queen visit Ceuta, the first royal visit in 19 years, and Felipe VI says its sovereignty “is not negotiable”Spain · PoliticsThe Government writes off the court battle over the grandchildren law and sees applying the Supreme Court’s ban as “extremely complex”Spain · PoliticsThe Vatican confirms that Leo XIV has lung cancer after the operation in which part of his lung was removedWorld · HealthThe IMF raises Spain’s 2026 growth to 2.5% and fears a sharp rise in risk premiumsEconomyThe IBEX 35 slips 0.4% and stays around 19,200 points as U.S. banks open earnings seasonMarkets