European Markets Rally and Corporate Moves Outlook
The Ibex 35 began the session with a modest gain, signaling strength in the Spain market. Early trading pushed the index to 9,899.2 points, up 0.42 percent. Shortly after, around 9:10 a.m., the Madrid benchmark breached the symbolic 9,900 threshold, signaling a positive tone for the day.
Before the bell for European exchanges, news emerged that Apollo, via its subsidiary Manzana Spain BidCo, had entered purchase and sale agreements with Applus shareholders to acquire up to 28.2 million shares. The deal could total as much as 300.3 million euros, representing 21.85 percent of Applus’s capital, at a price of 10.65 euros per share. The offer represented a roughly 12 percent improvement on Apollo’s initial proposal. Separately, Grenergy announced a new long-term hybrid agreement to supply green energy for 15 years to an international utility with an Investment Grade rating in Chile.
Against this backdrop, investors were awaiting the quarterly results from Tesla and AT&T, among others, as the corporate reporting season kicked off in Spain. Bankinter is expected to set the tone, with 34 more Ibex components scheduled to report this week.
Additionally, Madrid hosts the new edition of the International Tourism Fair (Fitur), which runs from Wednesday through Sunday at Ifema Madrid. The event attracts a broad mix of travel agencies, tour operators, and industry employers, underscoring the sector’s importance to the Spanish economy.
Macro data remains in focus as well, with the release schedule highlighting manufacturing, composite materials, and services PMI figures for major European economies including France, Germany, the UK, and the euro area overall. These indicators help gauge the momentum of the region’s production and services sectors as the year unfolds.
In the early trade, leadership among the Ibex 35 was led by a cluster of beneficiaries: ArcelorMittal rose about 2.6 percent, Grifols gained roughly 2.3 percent, Aena advanced around 1.6 percent, Colonial climbed about 1.5 percent, and Acciona added approximately 1.25 percent. On the downside, Acerinox traded lower, slipping nearly 1.5 percent as it faced the ex-dividend effect that weighs on several stocks at the start of the period.
Across the continent, European indices extended gains as markets moved into positive territory. Frankfurt led with a stronger than expected advance of just over 1 percent, while London, Paris, and Milan all posted meaningful climbs ranging from about 0.3 to 0.7 percent.
Commodities and currencies provided additional color to the session. Brent crude, the European oil benchmark, edged up about 0.5 percent to $79.95 per barrel. In parallel, U.S. WTI crude rose roughly 0.52 percent to $74.76 per barrel. The euro firmed versus the dollar, trading around 1.0878, while Spanish government bonds continued their measured ascent, with the 10-year yield hovering near 3.24 percent amid ongoing debt market sentiment. These movements reflect a mix of policy expectations, global demand signals, and regional economic recovery dynamics. (Market data sources)