Ibex 35 edges lower as earnings season looms in Europe and the US

Ibex 35 is on a session this Friday, with a modest 0.08 percent drop reflecting cautious sentiment as investors brace for the onset of a season rich in quarterly results, notably among large American banks. The day marks a careful footing for markets as traders prepare for fresh earnings reports and guidance from major institutions. Major names such as JP Morgan, Wells Fargo, Citigroup and BlackRock are in focus, with market participants awaiting their latest disclosures and strategic updates. In Madrid, the General Assembly of European Union Employment and Social Policy Ministers continues its work, hosted at the Bank of Spain under Spain’s presidency of the Council of the European Union. The gathering emphasizes labor market policy and social cohesion measures across EU member states, with observers watching for indicators that could influence regional economic governance. Early in the session, the strongest gains on the Ibex 35 are led by Ferrovial, up around 1.22 percent, followed by Telefónica advancing about 0.59 percent, Naturgy rising roughly 0.41 percent, Inditex near 0.39 percent, and ACS adding about 0.33 percent. Fluidra is among the few names trading lower, with a retreat in the mid single digits, while Meliá, Solaria and ArcelorMittal show declines of about 1.23, 0.63 and 0.44 percent respectively. Across the broader European equity landscape, the main indices opened the day in negative territory, with Milan down around 0.15 percent, Frankfurt and London each down about 0.10 percent, and Paris dipping about 0.03 percent. In the commodities market, Brent crude is trading down about 0.23 percent at roughly 81.17 dollars per barrel, while West Texas Intermediate sits near 76.75 dollars as markets digest supply and demand signals. On the debt side, the yield on Spain’s 10-year bond stands at about 3.505 percent with the risk premium near 105.7 basis points, and the euro trades around 1.1210 against the dollar in the foreign exchange market. Overall, the session reflects cautious appetite as traders balance corporate earnings flow, policy developments in Europe, and the headwinds and opportunities in energy and currency markets, with investors seeking clarity from earnings guidance and macro signals that could steer the coming weeks.