The Ibex 35 began Friday’s session with a restrained movement, edging down slightly at -0.03 percent as traders absorbed a mix of euro area industrial activity data and Spain’s consumer price trends. The day’s focus centered on macroeconomic indicators that shape investor sentiment across the region, including Spain’s CPI readings, broader euro area production signals, and upcoming inflation dynamics.
According to final data released by Spain’s National Institute of Statistics (INE), the Consumer Price Index in Spain registered a 0.3 percent decline in July from the previous month. On an annual basis, inflation rose to 10.8 percent, marking the highest level since September 1984 and surpassing June’s rate by six tenths of a percentage point. These figures highlight the persistent price pressures within the Spanish economy and set the backdrop for how households and policymakers may respond in the near term (INE).
Within the Madrid equity market, the index fluctuated near the 8,400 level, with the close yesterday showing a modest gain of 0.3 percent but remaining just below the round-number psychological threshold that often acts as a technical magnet for traders and index watchers.
In early trading on Friday, several blue chips displayed positive momentum. Repsol rose about 0.76 percent, followed by CaixaBank with a 0.56 percent increase, Sacyr at 0.51 percent, IAG up 0.43 percent, and BBVA contributing a 0.42 percent gain. On the downside, Solaria slipped by 1.37 percent, while ArcelorMittal fell 0.76 percent, Naturgy decreased 0.68 percent, and Rovi declined 0.49 percent. These moves illustrate how sectoral themes and reaction to earnings or news can create divergent paths within the same index (market data sources).
The rest of Europe opened with modest gains: Frankfurt up 0.03 percent, Paris higher by 0.1 percent, and London advancing around 0.2 percent in early trade. These early moves reflect a Europe-wide stance of cautious optimism as traders weigh domestic growth signals against global uncertainty and the potential trajectory of monetary policy across major economies (regional market data).
commodity prices provided additional context. The Brent benchmark, a key measure for European oil markets, edged up by around 0.02 percent to approximately $99 per barrel. In contrast, U.S. benchmark Texas crude traded about 0.08 percent lower near $94 per barrel, underscoring the global price dynamics that continue to influence energy stocks and industrial margins across the continent (commodities data).
Currency markets also offered details for traders. The euro was quoted around 1.0309 dollars, highlighting ongoing cross-border exchange rate considerations that impact import costs, inflation expectations, and corporate earnings for multinational firms operating in both the eurozone and its trading partners. The risk premium stood at roughly 109 basis points, while the Spanish 10-year government bond yielded about 2.081 percent, reflecting persistent caution in sovereign debt markets and the interplay between inflation data and funding costs for governments and corporates alike (economic indicators).
Overall, the session looked set to be shaped by how quickly inflation might cool and how policy responses could adapt to the evolving price landscape. Investors remain attentive to any surprises in the inflation path, wage dynamics, and the broader macro narrative that binds European and North American markets together in a shared risk and opportunity framework (market commentary).