Ibex 35 opens higher as banks rescue boosts sentiment and ECB rate expectations loom
Ibex 35 began trading this Friday with a modest rise, supported by news that major U.S. banks coordinated a bailout of First Republic Bank, injecting support into the market. The move helped lift the index above the 8,900 level, signaling renewed confidence among traders.
The session unfolded as markets absorbed expectations of another rate increase from the European Central Bank, alongside anticipation of forthcoming eurozone macro data. The eurozone consumer price index remained in focus while the selective index held steady near prior highs, helped by gains across Asian equity markets and a positive carryover from Wall Street the previous day.
In the early trading hours, most Ibex 35 components registered gains. Strong performers included Acciona, which climbed, Grifols, ArcelorMittal, Repsol, and Acerinox, all contributing to the broad upturn.
Across Europe, other major indices followed with positive opens: Paris up, Milan ahead, London higher, and Frankfurt showing gains, reflecting a broad risk-on mood at the start of the session.
Oil prices moved higher at the open, with Brent crude rising to slightly above the $75.50 per barrel level and U.S. crude (Texas) around $69.08, signaling continued strength in energy markets as traders balance supply concerns with demand forecasts.
In the currency market, the euro traded around 1.0664 against the U.S. dollar, while the yield on Spain’s 10-year government bond edged lower, touching roughly 3.33%, a sign of easing concerns in some parts of the debt market.