The Ibex 35 began Monday’s session with a modest rise of 0.17 percent, lifting the index to 9,309.65 points and returning it to the 9,300 level amid a week that continues to be driven by corporate results and the ongoing Israel-Hamas conflict.
In the macro arena, a sequence of October services PMIs will be released across Spain, France, Germany, and the broader euro area, offering fresh signals on service sector momentum.
Throughout the week, investors will watch earnings reports from Telefónica, Cellnex, Naturgy, and ACS, alongside AmRest and Almirall, among other listed names. These results will shape sentiment as markets assess earnings trajectory and guidance in a growth environment.
On the macro front, the calendar includes China’s trade balance; industrial production figures for Germany and Spain; and euro area industrial prices. Ahead of midweek, Germany’s inflation data and euro zone retail sales will be released, followed by China’s inflation reading on Thursday. Friday will bring the United Kingdom’s Gross Domestic Product data, completing a busy data schedule.
Both Eurogroup and Ecofin meetings are slated for the week, adding a political and policy backdrop to the market narrative.
Among the Ibex 35 components, the early leaders were IAG with a gain of 1.21 percent, Aena up 0.79 percent, and Acerinox up 0.78 percent. In contrast, Sacyr slipped 3.4 percent, while BBVA declined 0.76 percent and Solaria fell 0.51 percent, shaping the early relative performance landscape.
Major European stock exchanges opened the day with measurable gains: Milan up 0.47 percent, Frankfurt up 0.22 percent, Paris up 0.16 percent, and London up 0.15 percent, signaling an broadly positive mood across the region.
At the start of trading, Brent crude traded above 85 dollars, marking a 0.86 percent uptick, while WTI crude in the United States hovered near 81.31 dollars, reflecting ongoing supply concerns and geopolitical tensions in the Middle East, the Iran situation, and the war in Ukraine. Market participants also weighed potential disruptions to supply from Russia and Saudi Arabia as global risk factors persisted.
The euro traded around 1.0737 versus the dollar, with Spain’s risk premium near 103.4 basis points and the Spanish 10-year yield around 3.766 percent as the session began. These indicators highlighted the blend of global demand signals, inflation dynamics, and policy expectations shaping asset prices.