This Friday, the IBEX 35 began trading with modest gains, adding about 0.27% and pushing the index above the 7,820-point mark. Investors welcomed a wave of new business results alongside a batch of macro data from the United States and China. Major players like Citigroup, Wells Fargo, and BlackRock contributed to the backdrop as markets opened with tempered optimism.
In Asia, growth prospects received a tighter update. The annual expansion outlook was trimmed to 0.4% for the second quarter, a sharp drop from 4.8% in the prior period. Officials cited the lingering effects of strict health measures, including the Zero Covid policy that led to extended shutdowns in Shanghai and other areas, which weighed on nationwide activity and confidence.
Madrid joined the cautious mood, opening around 7,827 points on Friday. The session unfolded within a broader climate of persistent inflation, concerns about Europe’s energy outlook amid gas supply worries, and a softening crude market. The euro also touched fresh lows near parity with the dollar at times, underscoring currency pressure that has persisted this year and added another layer of complexity for European trading desks.
Across Western Europe, the major equity indices opened the day with restrained advances. Frankfurt posted a slim gain, while Paris, London, and Milan showed marginal strength as well, reflecting a market that is taking small, calculated steps in response to a mix of earnings news and macro signals.
Within the IBEX 35, most components traded higher at the outset. Grifols led the gains with roughly a one percent uptick, followed by Acciona and Sacyr, each up around 0.7 percent. CaixaBank rose about 0.6 percent, and ACS posted a gain near 0.5 percent as investors evaluated financials, project pipelines, and operational momentum across the Spanish market.
On the other side of the ledger, a few names resisted the broad uplift. ArcelorMittal slipped about 1%, while IAG and Bankinter fell by around 0.4% and 0.3%, respectively, illustrating the uneven pace of recovery within the index and the ongoing rotation among sectors as investors reassess risk and growth prospects.
commodity markets offered another layer of context for traders. Brent crude hovered near 98.87 dollars per barrel, down slightly and lingering under the $100 benchmark early in the session, with Texas Intermediate around 95.25. The dollar showed a softer tone, trading lower by roughly 0.6%, a development that can influence cross-border trade and equity valuations in Europe and the Americas.
In currency markets, the euro continued to retreat against the dollar, hovering around 1.0013 dollars. The single currency has experienced notable depreciation this year as concerns about a potential recession in the eurozone mount, adding to the complexity of international financial flows and corporate earnings outlooks that European investors monitor closely.
On the debt side, the Spanish risk premium stood near 121 basis points at market open, with the yield on the benchmark ten-year bond around 2.283%. These debt metrics reflect ongoing risk sentiment and the demand for safe, liquid assets amid a global environment of rate expectations and fiscal policy considerations.