Ibex 35 slides on Friday as 0.73% pullback narrows the gap from 8,100
The Ibex 35 pulls back 0.73 percent in Friday’s session, edging away from the 8,100 mark as traders weigh a quiet calendar with few macroeconomic releases. Investors are watching the margin for error as markets digest signals from inflation trends, ongoing geopolitical tensions, and central bank policy moves that could influence the pace of a new economic cycle.
From the start of the week, Madrid’s benchmark index opened near 8,041 points, a level that reflects a backdrop of persistent price pressures, the persistence of the energy shock, and concerns about a slowing global economy. Inflation remains the dominant theme, with the war in Ukraine and the stance of monetary authorities keeping volatility elevated across European equities.
Across European bourses, the first trading day of July was broadly negative, led by declines in Paris, Frankfurt, and London as investors recalibrated expectations for growth and interest rates in the months ahead.
Within the Ibex 35, the heaviest losses were registered by Acerinox and ACS, which opened the session sharply weaker, followed by Fluidra and Grifols, each down more than three percent as risk sentiment deteriorated.
On the positive side, gains were modest among several components of the index. Indra rose about 0.4 percent, Sacyr added around 0.3 percent, while both Mapfre and ArcelorMittal ticked higher by roughly 0.2 percent, offering a hint of selective strength amid the broader pullback.
In the commodities market, Brent crude traded around 108.50 dollars a barrel, edging lower as concerns about supply and demand tensions persisted. In the United States, WTI was near 105.05 dollars, also down modestly in early trade as traders weigh OPEC policy and U.S. demand signals.
Foreign exchange markets showed the euro easing versus the dollar to around 1.046, a reflection of relative currency dynamics amid divergent central bank expectations. The Spanish risk premium hovered near 111 basis points, with the yield on the ten-year Spanish bond around 2.44 percent, consistent with a cautious stance from investors and ongoing inflation worries.
Analysts note that a light data calendar could keep markets sensitive to changes in risk sentiment, while investors anticipate upcoming readings on inflation, manufacturing health, and service activity across major economies. In this environment, the Ibex 35’s path will likely hinge on how quickly energy prices calm, how central banks calibrate policy, and whether domestic earnings show resilience to the current macro headwinds. Attribution: market summaries from Reuters and other financial wire services.