Ibex 35 Opens Week Higher as European Markets Push Forward
The Ibex 35 began the week with a modest gain of 0.17 percent, lifting the index to 9,248.24 points and keeping the crucial 9,200 level in play even as regional tensions involving the Middle East weighed on sentiment. Traders also watched developments around the Israel-Hamas conflict and the broader geopolitical backdrop in the region.
Attention this week centers on the start of a fresh corporate results season and the forthcoming euro zone trade balance data slated for release on Monday. Market participants expect earnings profiles and trade metrics to shape the trajectory of European equities over the coming days, alongside the ongoing macro backdrop.
European policymakers and regulators are also on the radar, with Andrea Enria, head of the European Central Bank Supervisory Board, set to speak in Brussels. His remarks could provide insight into oversight priorities and potential implications for banks and financial markets in the region.
Among the Ibex 35 constituents, early movers showed clear leadership. ArcelorMittal led gains with a rise of 1.34%, followed closely by Repsol at 1.32% and Naturgy up 1.33%. On the downside, Solaria fell 1.64%, Iberdrola declined 0.43%, and Ferrovial slipped 0.36% as investors weighed sector dynamics and individual company news.
Across major European bourses, the opening session painted a positive picture: Milan up 0.47%, Paris up 0.44%, London up 0.38%, and Frankfurt up 0.17%. The breadth of gains suggested a broadly constructive mood as investors assessed earnings prospects and macro cues.
Oil markets showed a mixed but firm tone. Brent crude, a benchmark for Europe, rose above the $90 per barrel level, advancing slightly before pulling back by about 0.41%. In U.S. markets, West Texas Intermediate posted a small decline of about 0.30%, trading near $86.09 per barrel. The moves came amid a constellation of driving factors, including heightened Middle East tensions, Iran-related pressures, the war in Ukraine, and ongoing supply adjustments from Russia and Saudi Arabia.
Meanwhile, the euro hovered around a 1.0534 dollar level in the foreign exchange market. Spain’s risk premium remained near 114 basis points, while the Spanish 10-year government yield registered roughly 3.902%, reflecting cautious optimism as traders await more clarity on the continent’s economic trajectory.
[Citation: Market data and price movements are derived from standard market feeds and central bank communications as of today.]