The session began with a notable dip of 0.5 percent after a weekend of volatility. A weekend marked by a tense geopolitical backdrop saw markets react to the unfolding cross Atlantic developments. Traders in Europe faced a week that promises decisive moves as investors digest fresh data and corporate results.
Across the Atlantic, attention centers on the coming rounds of data and earnings. Europe will publish retail activity figures and January inflation data from Germany, while major names such as Activision Blizzard, Walt Disney, and PepsiCo report earnings. In the meantime, utilities and consumer-facing firms like Naturgy, Logista, ArcelorMittal, and Mapfre will be watched for guidance on demand and margins in both the United States and Spain.
The Madrid stock market opened lower after ending last week up 1.82 percent, trading beneath the 9,200 threshold as many listed equities moved into negative territory.
At the outset, Amadeus led declines with a drop near 2.25 percent, followed by ArcelorMittal around 1.9 percent lower and Fluidra slipping about 1.7 percent. Grifols and BBVA also faced declines of roughly 1.4 percent and 1.4 percent respectively, while Santander shed about 1.3 percent. In contrast, CaixaBank posted a modest gain around 0.65 percent, with Repsol up around 0.4 percent and Enagás and Naturgy marginally higher on the day.
The broader European markets opened with mixed to slight advances in some of the majors and a softer tone in others. Frankfurt and Paris pointed to roughly 0.7 percent gains, while London slid about 0.5 percent.
Oil prices followed suit with Brent crude, the benchmark for Europe, edging higher by about 0.65 percent to around $80 per barrel. U.S. WTI crude gained roughly 0.52 percent, trading near $73 a barrel.
On the currency front, the euro hovered around 1.0785 dollars per euro, reflecting ongoing currency dynamics. The Spanish risk premium stood near 93 basis points as the yield on the ten-year Spanish government bond traded around 3.26 percent.