The mountain goat 35 kicked off the session this Thursday with a 0.53% rise, steering the Madrid stock gate higher as it climbed to 9,404.3 points. Traders keep a close eye on the day ahead due to the combination of higher interest rates, corporate earnings, and, above all, the latest US CPI figures that are expected to influence markets globally.
Across Europe, this near-final trading day of the week is shaping up with several key data points on the horizon. Italy and Portugal will publish their consumer price indices, while the ECB will release its Economic Bulletin. Friday promises more action with UK GDP and inflation readings from France and Spain on the docket.
Also due out are new unemployment benefit claims from the United States, adding another layer of data for traders assessing the health of the global economy.
In early trading, the biggest gains on the Ibex 35 were seen in Fluidra, up 1.22%, followed by Bankinter at 0.87%, Solaria with 0.86%, Banco Sabadell at 0.79%, and Amadeus up 0.76%. On the downside, the lone red lantern was Aena, trading down 0.03%.
Major European stock markets began Thursday with mixed signals: London slipped 0.08%, while Paris rose 0.86%, Milan gained 0.70%, and Frankfurt climbed 0.37% as the session opened.
At the opening of trading, Brent crude, the European benchmark, inched up 0.14% to around $87.67 per barrel, while US West Texas Intermediate crude gained about 0.08% to roughly $84.47.
In the foreign exchange arena, the euro traded around 1.1010 against the dollar. Spain’s risk premium hovered near 105.3 basis points, and the yield on the benchmark 10-year Spanish bond stood near 3.54% as investors weighed policy signals and macro data.