Ibex 35 opened the session with a modest 0.3% rise as investors awaited euro zone inflation figures and prepared for ongoing corporate earnings releases. The milestone index ticked higher at 09:01, settling at 7,638 points as traders navigated a day filled with data and results.
Across the board the market signature in Madrid extended its recent positive momentum, climbing for a fourth straight session and finishing yesterday with a 0.2% gain. The benchmark hovered above the 7,600 level, a psychological threshold that has kept traders alert amid a week dominated by inflation pressures, potential rate hikes, and ongoing economic cooling.
In the early minutes of trading on Wednesday, several stocks led the rally. ArcelorMittal posted a notable advance of 1.73%, followed by Repsol with a 1.19% gain. Santander rose 0.86%, Sabadell gained 0.69%, BBVA added 0.65%, and Sacyr increased by 0.44%. On the downside, Indra slipped 1.05%, Grifols fell 1.05%, and Inditex decreased by 0.64%, among others.
Meanwhile, the broader European markets mirrored Madrid’s buoyant start. The openings for Frankfurt, Paris, and London showed gains around 0.4%, signaling a regional mood that leaned toward risk appetite in a context of mixed data and evolving policy expectations.
Commodity markets also moved higher, with Brent crude, the benchmark for European oil, advancing 0.52% to around $90 a barrel. In the United States, the Texas Intermediate contract rose about 0.97% to roughly $82 per barrel, underscoring the persistent demand dynamics and supply considerations shaping the energy complex.
On currency and debt metrics, the euro traded near the dollar, with a current level around $0.98 per euro. Spain’s sovereign risk premium hovered at approximately 116 basis points, reflecting ongoing concerns about the country’s macroeconomic trajectory in the face of global rate trajectories. The yield on Spain’s 10-year government bond stood near 3.47%, highlighting the sensitivity of fixed income markets to inflation signals and central bank guidance.
Overall, investors absorbed a mix of global macro data and corporate updates, positioning European equities for a potential continuation of the current risk-reward balance. Market participants remained attentive to new inflation readings, policy commentary from major central banks, and corporate earnings guidance that could influence sector leadership in the coming days.