On Monday, the Ibex 35 began the trading week with a modest rise, advancing 0.41% as it reached the 8,900 zone. The session opened with optimism that helped the index hover around 8,900 and briefly test higher levels, near 8,954.9 points. Investors navigated a landscape marked by geopolitical tensions in the Middle East and the ongoing flow of corporate earnings, while overall macro data and Spain’s CPI release provided additional context to the early moves. The day reflected a balance between risk appetite and the caution that typically accompanies periods of international strain and unpredictable headlines from global markets.
Before the bell, Unicaja Banco reported solid results for the first nine months of the year to the CNMV, registering a net profit of 285 million euros. This figure represented a 4.9% rise versus the same period last year, underscoring a steady earnings trajectory for a regional lender navigating a challenging rate environment and prudent lending standards. The release contributed to a wider narrative around financial institutions’ resilience in the face of tighter monetary conditions and the ongoing adjustments in European banking strategies as they adapt to regulatory expectations and evolving consumer demand.
On the macro front, investors awaited the October Consumer Price Index release, which confirmed a 0.3% month-over-month increase. The rate held steady from September, keeping the year-on-year inflation reading intact at a level that remains a focal point for policy discussions across Europe. The modest uptick was partly explained by higher electricity prices offsetting softer fuel costs and a gentler rise in food prices compared with the year-ago period. Core inflation eased modestly, declining by six-tenths to 5.2%, a development watched closely for hints about the underlying price pressures that could influence future central bank guidance.
In the early trading, several Ibex 35 components stood out with notable intraday gains: Endesa led gains at +1.73%, followed by Acciona Energía at +1.38% and Colonial also up +1.38%. By contrast, the session’s weaker performers included ArcelorMittal at -4.89%, while Unicaja Banco slipped about -4.47% and Acerinox edged lower by -0.42%. The market’s divergent moves highlighted how individual company fundamentals, sector dynamics, and the global risk backdrop can shape sector- and stock-specific performance within a single day.
Across Europe, major equity indices opened on a positive footing. Frankfurt advanced about 0.45%, Milan gained 0.44%, London rose 0.41%, and Paris added 0.34%, signaling broader risk sentiment was supportive despite ongoing geopolitical and energy-market uncertainties that can influence investor flows across the continent. Market participants continued to monitor supply chains, inflation developments, and the potential policy responses that could alter risk premia in the months ahead.
At the start of the session, Brent crude—widely used as the European benchmark—traded above $87 per barrel, slipping 1.54% from the prior close. In U.S. trading, WTI crude fell to about $84.02 per barrel, down 1.78%. The price dynamics reflected heightened tensions in the Middle East, ongoing regional frictions, and the broader geopolitical environment that can affect energy supply expectations. Additionally, investors weighed the potential impact of tensions involving Iran, the Ukraine conflict, and the broader risk of supply disruption linked to Russia and Saudi Arabia, all of which could influence future pricing and policy considerations.
The euro traded at roughly 1.0552 dollars in the foreign exchange market, indicating a stable but sensitive currency backdrop. Spain’s sovereign risk premium hovered near 108.7 basis points, while the yield on the benchmark 10-year Spanish bond stood around 3.852%, reflecting modest risk reassessment by investors in a period of mixed economic signals and the ongoing influence of monetary policy uncertainty on European debt markets.