The Ibex 35 opened Thursday with a slight dip of 0.15 percent, placing the Madrid benchmark at 11,014 points as of 9:00 a.m. The day would reveal the final reading of the United States’ first-quarter GDP, a keygeopolitical and economic milestone that investors watch closely for signals about growth momentum and policy direction.
A few minutes into the session, the index extended its decline to about 0.4 percent, dipping below the 11,000 point threshold around 9:15 a.m. The early move underscored the cautious mood among traders as global data begins to flow and as cross-border sentiment weighs on Spain’s equity landscape.
In corporate news, Enagás agreed to sell its 50 percent stake in Mexico’s Estación de Compresión Soto la Marina to the other half holder, Esentia Anáhuac, for 15 million dollars, roughly 14 million euros. The deal marks a strategic exit from a joint venture and signals ongoing portfolio adjustments within the energy infrastructure sector.
Separately, FCC is set to hold its general shareholders meeting on Thursday, June 27, where decisions include approving the partial exit through an initial public offering of 80 percent of its real estate business and the full listing of its cement activities, with a combined valuation near 1.596 billion euros before year-end. The move reflects a broader trend of asset separation and capital markets activity among construction and infrastructure groups.
LLYC has acquired the strategic data consulting firm Zeus, which specializes in ingestion, analysis, and visualization of data. This acquisition expands LLYC’s capabilities and brings a presence to Valencia, reinforcing the company’s data-driven advisory footprint across Spain.
Moody’s downgraded Grifols to B3 from B2 due to elevated leverage and governance considerations, ending the review that began in early March following slower cash generation and delays in publishing audited accounts. The rating action highlights how leverage and governance practices can influence credit assessments even for established, globally active healthcare groups.
On the performance front, the biggest risers in the Ibex 35 were Rovi with a 1.82 percent gain, Repsol up 0.10 percent, Naturgy higher by 0.1 percent, and Mapfre up 0.09 percent. The day’s biggest drops were led by Grifols down 8.11 percent, Redeia down 3.61 percent pulled by ex-dividend effects, Endesa down 3.02 percent also affected by the dividend schedule, and Inditex off 1.37 percent, highlighting a broad rotation among high-beta names and defensive plays alike.
Across Europe, the market picture started mixed. Milan and London recorded declines of 0.07 percent and 0.06 percent, respectively, while Frankfurt and Paris moved higher by 0.25 percent and 0.14 percent, signaling divergent momentum among the region’s major markets as investors weigh domestic fundamentals against global cues.
Oil prices moved lower at the open of European trading, with Brent crude dipping 0.17 percent to 84.33 dollars per barrel, while West Texas Intermediate traded around 80.72 dollars, down 0.22 percent. The energy complex continues to respond to shifting supply dynamics and the evolving demand outlook, with offshore and regional factors contributing to price dispersion.
In foreign exchange markets, the euro traded near 1.0692 against the dollar, reflecting ongoing adjustments as European policymakers balance growth and inflation pressures. In debt markets, the yield on Spain’s 10-year government bond hovered around 3.39 percent, a level that keeps the country in a moderate risk environment as investors evaluate fiscal discipline and growth prospects.