Ibex 35 opens with a gentle lift as Spain’s earnings season gains pace and the benchmark eyes the 9,500 zone
Spain’s Ibex 35 traded higher on Thursday, inching up about 0.1% as investors monitored the flow of quarterly results from major banks and industrials, shaping expectations for the session ahead. The early move reflected cautious optimism as Spain’s equity market absorbs fresh earnings signals amid a backdrop of global monetary policy uncertainty.
Bankinter released quarterly results showing a first quarter profit of 184.7 million euros, up 19.7% from the same period a year earlier. The upbeat print supported sentiment in a market that has been weighing growth prospects against the impact of global policy shifts. Analysts attributed Bankinter’s performance to a strong lending environment, prudent credit risk management, and ongoing efficiency improvements. The figure stood out within a week of Spanish earnings that are helping to map out the sector’s trajectory. Attribution based on company filings and market briefings.
This week also highlighted the Spanish Treasury, which planned a government bond auction on Thursday, the final trading day of April. Official guidance suggested a capture range of 5.5 to 6.5 billion euros, with appetite seen as solid given current demand for sovereign paper in southern Europe. Attribution based on the Treasury calendar and market commentary.
On the global front, the market built in a packed schedule of policy signals. Participants anticipated the release of the minutes from the most recent Federal Reserve policy meeting in the United States. In Europe, traders were watching for updates from the European Central Bank, and for several major earnings and economic indicators from the United States, including American Express and AT&T, all slated for publication today. These events were expected to influence risk sentiment and bond yields across major markets. Attribution based on central bank communications and earnings calendars.
At the session’s start, the Madrid market stood at 9,494.8 points, with the index opening slightly higher at 9,502. The morning action showed a cautious edge among buyers, with pockets of gains countered by selective selling in other sectors. Attribution based on market opening notes and index snapshots.
Among the Ibex 35 components, the standout performers were Bankinter, up about 5.06%, Fluidra rising 3.62%, CaixaBank up 3.42%, and Sabadell advancing around 3.34%. These moves underscored a leadership rotation among financials and growth names that has steered the index in recent weeks. In contrast, a handful of stocks traded lower in the morning, including Acciona down 0.78%, ArcelorMittal down 0.65%, Logista down 0.42%, and Inditex slipping about 0.41%. Attribution based on intraday trading notes and stock quotes.
Compared with its European peers, Madrid opened with a slightly negative tilt versus the broader continent, as most major European indices started the day lower. Frankfurt slipped about 0.16%, while London, Paris and Milan posted modest declines near 0.1%. Attribution based on European market openings.
In the energy and commodities space, Brent crude, the Europe reference, fell roughly 0.91% to around 82.32 dollars per barrel. U.S. benchmark West Texas Intermediate also eased about 1%, trading near 78.42 dollars. The moves underscored how sensitive benchmark commodities remain to global demand signals and geopolitical tensions. Attribution based on commodity market quotes.
On the currency front, the euro steadied around 1.0967 against the dollar, while Spain’s government debt remained manageable with the yield on the 10-year bond hovering around 3.497%. The markets continued pricing in expectations of rate stability after the latest policy updates, as traders weighed inflation data, growth prospects, and the varying stances of major central banks. Attribution based on FX quotes and sovereign debt data.