The Ibex 35 opened higher as traders weighed dividend news and European macro data
The Ibex 35 started the day with a modest gain of 0.38 percent, placing the index around the 9,218 point level as optimism caught hold among investors. In focus is BBVA, which announced a gross dividend of 0.31 per share for the 2022 fiscal year. The bank plans to distribute a total of 1,869 million euros to shareholders, a move that underlines the steady value proposition some Spanish lenders offer to income-focused portfolios. Analysts note this payout could support demand for BBVA shares in a market environment where investors are balancing yield against growth.
Following the BBVA dividend news, macroeconomic data in Europe resonates through European markets. Spain’s Industrial Production Index fell 0.8 percent in February, a signal that growth momentum in the region remains uneven. Market participants will be scanning upcoming releases from major European economies, particularly France’s industrial production figures and Italy’s retail sales data, to gauge the trajectory of the euro area’s manufacturing and consumption cycles. A softer-than-expected reading could temper risk appetite, while stronger numbers might bolster expectations of a continued earnings rebound across sectors.
On the corporate front, attention this week also turns toward UBS, which is convening its annual shareholders meeting. The Swiss bank remains a focal point after stepping in to stabilize Credit Suisse during a period of stress in the European banking sector. The gathering will likely address strategic priorities and the path forward for UBS in a changing financial landscape, with investors watching how the bank plans to balance profitability with risk controls in a higher-for-longer rate environment.
In the early trading, leadership within the Ibex 35 showed leadership from Acciona, Iberdrola, Solaria, BBVA, and Santander, each posting positive moves. Acciona led the gains with a rise near 1.92 percent, followed by Iberdrola up about 1.18 percent, Solaria around 0.83 percent, BBVA roughly 0.69 percent, and Santander adding about 0.55 percent. These mixed returns reflect a market that is rotating into defensive and growth-oriented plays, depending on sector exposure and market sentiment about energy and infrastructure ties.
Turning to the downside, the day’s sharper declines came from Cellnex Telecom, which slipped around 0.36 percent, Logista near 0.31 percent, Caixabank about 0.14 percent, and Amadeus close to 0.13 percent. Such moves underscore the volatility that can accompany stock-specific news and the sensitivity of telecom and distribution-related names to broader European conditions. Despite the small pullbacks, the broader Ibex 35 structure remains cautiously constructive as investors digest the latest earnings signals and macro chatter.
Across Europe, the major stock indices opened in positive territory, echoing a tentative regional risk-on stance. London and Paris were up around 0.06 percent, Frankfurt around 0.07 percent, and Milan modestly higher. Investors appear to be trading a blend of optimism on corporate earnings and a watchful eye on central bank guidance, ready to react to any surprises in inflation or growth data that could influence policy expectations.
Commodity markets saw Brent crude push higher, with the Old Continent’s benchmark advancing about 0.48 percent to roughly $85.35 per barrel, while U.S. crude posted a degree of strength as well, trading near $81.03. The energy sector’s performance continues to color broader equity sentiment, as supply dynamics and geopolitical considerations remain in flux.
In the foreign exchange arena, the euro held around parity with the dollar, trading near $1.0949. The Spanish risk premium stood at approximately 104.1 basis points, and the yield on the Spanish 10-year government bond hovered near 3.306 percent. These fixed-income cues provide a backdrop for investors evaluating the carry and relative value of euro-area assets in the currency and debt markets.