The IBEX 35 started the session with a modest gain, advancing 0.43 percent on Tuesday as trading opened. The index reached 8,229.13 points at 9:01 a.m., a moment when investors prepared for the release of key data from the United States. The day’s caution ahead of the US CPI report set a tense tone, with traders watching currency and bond moves closely as global markets brace for inflation readings.
Following a 2.01 percent rise on Monday, the Madrid stock market reopened in positive territory, riding above the psychological barrier near 8,200 points. This level now serves as a reference that traders use to gauge momentum and potential follow-through in the near term.
In Spain, the latest CPI data for August showed a 0.3 percentage point month-on-month increase, while the annual rate cooled slightly to 10.5 percent. The figure remains well above the long-standing target and highlights persistent inflationary pressures that have shaped market expectations for months. Investors weighed how this dynamic interacts with monetary policy signals from both the European Central Bank and domestic authorities, considering potential shifts in rate paths and growth projections.
During the early part of Tuesday’s session, the top performers included Grifols (up 0.79%), Enagás (0.71%), Amadeus (0.68%), Sabadell (0.63%), and Repsol (0.61%). On the other side of the ledger, Acerinox fell 1.09%, ArcelorMittal declined 0.77%, Sabadell slipped 0.42%, and Indra dropped 0.33%. These moves reflect sector-led leadership as investors rotate into and out of groups seen as beneficiaries of macro resilience or those exposed to higher input costs and global supply dynamics.
Across the continent, the rest of the European markets opened with modest gains around 0.4 percent in Frankfurt and Paris, and about 0.1 percent in London, signaling a generally cautious but constructive mood as traders digest inflation signals and energy considerations.
Oil prices showed a marginal advance, with Brent crude edging up to around 94 dollars per barrel, a tilt that underscores ongoing supply concerns and the sensitivity of European energy markets to global demand fluctuations. In the United States, the benchmark to watch remained a touch firmer as Texas Intermediate traded near the mid-80s, framing a scenario where energy costs continue to influence diversification and hedging strategies among corporate and household budgets.
Meanwhile, the euro traded slightly above parity with the dollar, hovering near 1.0146. The measured risk premium sat at 113 basis points, with Spain’s 10-year government bond yielding about 2.832 percent. These mechanics reflect a market environment where currency movements and sovereign yields interplay with equities, commodity prices, and policy expectations, shaping risk appetite and asset allocation strategies across North America and Europe.
In summary, the day’s early activity shows a cautious but positive tilt for the IBEX 35, supported by selective stock leadership while macro data and energy prices continue to sculpt the broader sentiment. Market participants will remain attentive to upcoming inflation reports, central bank commentary, and global supply dynamics as they navigate the balance between growth momentum and price stability.