The Ibex 35 moved slightly higher to start the session, gaining 0.09 percent and hovering around 10,985.63 points as investors contemplated remarks from Jerome Powell, the head of the United States Federal Reserve. The early momentum came as markets waited for fresh signals from the Fed chair on the path of monetary policy and inflation, with traders balancing domestic cues against global macro developments.
Minutes into the session, near 9:13 a.m., the Ibex 35 reclaimed the round psychological level of 11,000 points after a 0.30 percent rise, reflecting cautious but steady appetite among investors. This rebound followed a small but notable improvement across major indices, underscoring a mood of selective buying as market participants reassessed risk and opportunity in light of evolving economic data.
In corporate news, CaixaBank announced a dividend of 0.39 euros per share. That payout lifts the total amount distributed to shareholders to 2.89 billion euros, signaling a continued commitment to returning value to investors despite a mixed earnings environment across the sector. The move is part of a broader strategy to sustain shareholder confidence while navigating a challenging interest-rate landscape that has influenced banks’ earnings profiles.
Airtificial, for its part, secured a new contract valued at approximately 4.8 million euros with the public Turkish company Turkish Aerospace Industries (TAI). The agreement covers technological design and manufacturing for two versions of flight control sticks, highlighting a collaboration that blends advanced engineering with aerospace demand in a key emerging market. The deal adds to Airtificial’s portfolio of high-precision components and capabilities that support critical flight systems.
Beneath the macro backdrop, Eurostat is scheduled to publish its preliminary inflation estimate for the euro area in March, alongside the official unemployment rate. These readings are closely watched as they feed into expectations about euro-area monetary policy, currency stability, and the outlook for growth. Investors will parse the figures to gauge how price pressures have evolved and how that might shape future rate decisions by the European Central Bank and other central banks.
Early trading showed the leaders in the Ibex 35 posting modest gains: Grifols led with about a 1.13 percent rise, followed by BBVA at around 0.96 percent, Aena up 0.86 percent, Banco Santander up 0.71 percent, Unicaja Banco up 0.70 percent, Telefónica up 0.64 percent, Inditex up 0.61 percent, and Bankinter up 0.60 percent. On the downside, Amadeus, Cellnex, Merlin Properties, Naturgy, Meliá Hotels, and Indra lagged the index, with losses ranging from roughly 0.50 to 0.79 percent. The spread between gainers and decliners highlighted a day where stock-specific news and sector-specific catalysts weighed on sentiment in different ways.
Across Europe, major exchanges opened with a mixed tone. London slipped about 0.2 percent, while Milan, Frankfurt, and Paris advanced by roughly 0.29 percent, 0.2 percent, and 0.17 percent, respectively. The regional snapshot suggested that investors were phasing in risk on some markets while remaining cautious in others, a pattern often seen during periods of policy anticipation and economic data releases.
In commodities, Brent crude, regarded as a benchmark for Europe, climbed about 0.25 percent to roughly 89.14 dollars per barrel in early trading. West Texas Intermediate, the U.S. benchmark, rose around 0.15 percent to about 85.28 dollars. The modest gains in crude prices fed into broader energy and materials sectors, where sentiment can shift rapidly with shifts in supply expectations or geopolitical developments.
In the currency and debt markets, the euro traded around 1.0769 against the U.S. dollar as traders weighed the diverging paths of euro-area growth and inflation. Meanwhile, the yield on Spain’s 10-year government bond climbed to around 3.249 percent, a level that reflects ongoing concerns about fiscal sustainability and the borrowing costs that come with higher yields for governments and issuers in euro area markets.