This Friday, the IBEX 35 opened with a solid advance, climbing about 0.65 percent and nudging the index toward the 8,800 level. At 9:01 a.m. local time, the benchmark stood just above 8,800.5, as traders kept an eye on the United States where the employment report would soon be released, while markets in London stayed shut for a holiday. The morning momentum signaled cautious optimism amid a mix of positive catalysts and risk considerations. Market participants in Madrid weighed earnings signals, macro data, and global energy developments as they positioned portfolios for the session ahead, with several stocks showing relative strength in early trading.
Following a nearly flat close on Thursday, the Madrid selector started the day trading above the psychological threshold of 8,800 points. A broad majority of values moved higher, with leadership coming from a cluster of names that investors have been watching closely. Among the top gainers in the opening trades were ACS, up about 1.02 percent, followed by Meliá Hotels International at roughly 0.94 percent, Aena and Mapfre both up around 0.92 percent, Ferrovial rising about 0.82 percent, Santander also near 0.82 percent, Inditex up roughly 0.81 percent, and Acciona advancing about 0.75 percent. Conversely, Rovi edged lower by around 0.24 percent, Siemens Gamesa slipped about 0.14 percent, and Merlin Properties shed roughly 0.1 percent. This pattern suggests selective strength within the index, as investors rotated into defensive plays and growth-oriented names alike, while profit-taking or sector-specific weaknesses tempered gains in a few cases. The dynamic balance reflects ongoing macro attention and sector-specific catalysts that can intermittently tilt the market direction during the session.
Across the broader European arena, early trading showed a constructive tone with the major bourses opening higher: Frankfurt gained about 0.64 percent and Paris rose around 0.66 percent. In commodity markets, Brent crude registered a modest decline of roughly 0.37 percent, trading near 117 dollars per barrel, while West Texas Intermediate (WTI) slipped about 0.45 percent to the low 116-dollar range. The energy complex continued to react to headlines surrounding supply policy and global demand expectations, with OPEC+ signaling an increase in crude production by half a million barrels per day, effective from the coming July adjustment. This policy move added a layer of nuanced risk to the energy outlook, given the interplay between supply signals and global demand trends. On the currency front, the euro traded around 1.0749 dollars per euro, reflecting the ongoing negotiation of European growth dynamics and monetary policy expectations.