The Ibex 35 began trading Friday with a solid 1.6% rise, pushing the index to 7,473 points by 9:01 am after a more-than-2% advance on Wall Street. Investors digested September inflation data published in the United States, which helped set the tone for a quiet yet constructive start to the session.
Across the Atlantic, major indices showed strength as the Dow Jones Industrial Average closed the day up 2.83%. This momentum extended to other leading markets: the S&P 500 advanced 2.6%, the Nasdaq gained 2.23%, and the Nikkei in Tokyo jumped 3.25%. Such global strength often ripples back to European equities, reinforcing a risk-on mood as traders reassess macro signals and corporate earnings expectations.
In Madrid, the local trading landscape reinforced the positive sentiment. The Ibex 35 rose for a third session in a row, opening above the psychological benchmark of 7,400 points after gaining 1.21% on Thursday. Domestic blue chips led the gains: Sabadell advanced 3.27%, Santander rose 2.38%, Red Eléctrica gained 2.24%, Iberdrola added 2.22%, Enagás climbed 2.14%, Grifols increased 2.04%, and BBVA rose 1.99%. These moves reflect a combination of favorable macro data, improving macro sentiment in the euro area, and ongoing appetite for defensive and growth names within Spain’s market.
The broader European stock landscape followed suit, with Frankfurt and Paris each up around 1.8% and London gaining about 1.4%, signaling a synchronized morning rally across the continental markets. Investors remain attentive to regional growth indicators, inflation trajectories, and the pace of monetary policy normalization, balancing optimism with caution as liquidity conditions evolve.
Commodity markets offered a parallel thread of activity. Brent crude, the benchmark for European oil, rose by 0.23% to around $94 per barrel, while U.S. West Texas Intermediate (WTI) hovered near $89 per barrel, marking a modest but steady uptick in energy prices. The energy sector often correlates with economic activity and global demand expectations, making these moves relevant to equity performance, particularly in energy-related sectors and exporters.
In currency markets, the euro held modest strength against the dollar, supported by improving risk appetite and positive equity signals. Spain’s credit metrics remained in focus as the Spanish risk premium tightened, with the implied cost of 10-year borrowing resting around 3.336%, a level that underscores ongoing investor confidence in Spanish sovereign paper amid a generally favorable eurozone backdrop.