The Ibex 35 began Monday’s session, the last trading day of September, down 0.32%, pushing the index to 11,929 points at 9:00 a.m. local time. The day centers on inflation data from Germany and Italy, which traders will study as the market weighs the next moves. The main Spanish benchmark continues to eye the 12,000 point threshold, a level not seen in Madrid’s stock market since 2010.
On Tuesday, investors will get the eurozone’s industrial production reading alongside the latest inflation data. Thursday brings the euro area’s composite PMI, European industrial prices, and the minutes of the European Central Bank. Finally, Friday will reveal the U.S. labor market picture with employment and unemployment figures.
On the corporate front, Audax Renovables posted net attributable income of €33.7 million for the first half of the year, quadrupling (+302.8%) the €8.4 million earned in the same period of 2023, according to the company on Monday, which raised its full-year 2024 outlook. In addition, Nyesa Valores Corporación registered consolidated losses of €1.3 million in the first half, matching the €1.2 million loss registered a year earlier, as the company reported after market close on Friday.
In the early session, the Ibex 35’s biggest gains were led by Puig Brands (+1.84%), Acerinox (+1.23%), and Repsol (+0.98%), while the laggards included Grifols (-4.63%), pressured by a volatility auction, Fluidra (-1.53%), and Merlin Properties (-1.04%). Nevertheless, by 9:06 a.m., after the volatility auction concluded, Grifols rose almost 1% to €10,255 per Class A share.
Major European stock markets opened in negative territory, with Milan down 0.7%, Paris down 0.61%, Frankfurt down 0.20%, and London down 0.12%.
At the market’s open, Brent crude, the European benchmark, traded above $71.28 a barrel, up 0.27%, while Texas Intermediate gained 0.28%, to around $67.86. In the foreign-exchange market, the euro traded at roughly $1.1162 per euro, and the yield on the 10-year bond stood at about 2.931%.