Ibex 35 commenced the session with a notable 2.11% rise, lifting the index to a critical Recover level around 8,900 points. This move comes amid ongoing concerns linked to Credit Suisse and heightened anticipation ahead of the European Central Bank meeting, which market participants will be watching closely for guidance on monetary policy and financial stability in the euro area.
The index closed 4.37% higher yesterday, reaching at least 8,759.1 points since the start of the year, and opened today near 8,943.74 points. Across the European markets, gains were broadly supported as the region showed positive momentum, with traders focusing on macro data, central bank signals, and the potential impact of bank sector developments on overall sentiment.
In the early trading hours, the standout performers within the Ibex 35 included BBVA rising around 4.58%, Santander climbing about 4.38%, Inditex advancing roughly 2.87%, and Repsol adding near 0.91%. Conversely, the laggard among the major components was Red Eléctrica, down around 0.13% as the day began.
Across the broader European landscape, most peers traded higher: Milan up about 1.89%, Paris around 1.65%, Frankfurt’s DAX near 1.56%, and London advancing roughly 1.29%. The general flavor of the session suggested cautious optimism as investors weighed earnings, policy expectations, and geopolitical factors that influence European equities.
Commodity markets showed oil continuing its recent trajectory. Brent crude, the benchmark for EU markets, rose about 0.8% to trade near $74.28 per barrel, while U.S. West Texas Intermediate (WTI) hovered around $68.08, up approximately 0.7%. These price moves reflect persistent supply concerns and ongoing demand dynamics as economies navigate inflation and growth trends.
In the currency arena, the euro traded near 1.0625 against the dollar, reflecting a steady but cautious stance as market participants await clearer cues from the ECB. On the debt side, the yield on the Spanish 10-year bond edged higher, reaching about 3.354%, indicating ongoing sensitivity to policy expectations and sovereign risk premium amid regional concerns.
Overall market activity shows investors remain vigilant for shifts in monetary policy, debt market signals, and the health of the banking sector. The session underscores how regional financial headlines continue to influence sentiment, with traders balancing growth prospects, currency movements, and commodity price trajectories as they position for the week ahead.