Ibex 35 starts trading with a slight dip on a light Easter session
The Ibex 35 opened with a marginal decline of 0.01%, edging down to 9,253.4 points. Market activity was subdued as traders kept a cautious stance during the Easter period, lacking the major macroeconomic data that usually drives volatility midweek. This quieter start reflects the holiday mood and a wait-and-see approach ahead of upcoming indicators.
Among the most noticeable moves, CaixaBank led the downside once again, slipping about 4.44% at the opening, partly because it began the session without an accompanying dividend, which has historically affected the share price during earnings cycles. Following CaixaBank, Amadeus slipped 0.65%, Indra fell 0.48%, Cellnex dropped 0.45%, and Repsol declined 0.39%. The early clock showed a confluence of modest weaknesses across several staple names, underscoring a cautious mood as investors digest global cues without a clear directional catalyst.
In contrast, Solaria registered the day’s early strength, climbing as much as 1.91% in the initial minutes of trading. The solar newcomer’s momentum helped prop up sentiment, with Banco Sabadell also showing strength at the outset, up 1.47%. Other notable recoveries included Colonial at 0.89%, ArcelorMittal up 0.68%, and Acciona Renewable Energy advancing 0.67%. These gains suggest a rotation within the market as investors chase pockets of value amid the broader subdued environment.
Across major European markets, the opening tapestry was mixed. Germany’s DAX inched up 0.01%, France’s CAC 40 gained 0.09%, and Italy’s FTSE MIB rose 0.38%. The broader Euro Stoxx 50 slipped slightly by 0.02% as investors weighed regional economic signals. Meanwhile the UK’s FTSE 100 nudged higher by 0.28%, signaling a cautious but positive mood in the British market as it began the session with modest gains.
In the commodities arena, Brent crude climbed 0.44%, touching about 84.61 dollars per barrel, signaling continued supply concerns or demand optimism. West Texas Intermediate, by contrast, fell 0.48% to around 80.22 dollars per barrel, reflecting the tug-of-war between different regional demand dynamics and inventory reports shaping near-term prices. The divergent moves between Brent and WTI emphasize the complex factors influencing energy markets today.
On the fixed-income side, the yield on the Spanish 10-year bond stood around 3.231% in the early trading minutes, higher than the previous session’s close near 3.209%. The risk premium advanced to approximately 102.9 basis points, a slight uptick from Wednesday, though it hovered near the levels seen at the opening of the session after briefly touching 101.4 basis points in the first moments of trading. These shifts reflect the ongoing sensitivity of yields to global rate expectations and regional risk sentiment during a light calendar period.
As the session kicked off, the euro showed a modest strength, gaining about 0.08% against the dollar. It regained the approximate level of 1.09 dollars per euro that had slipped in the early morning hours, trading around 1.0915 in the first minutes of activity. This move reinforces the delicate balance in currency markets amid mixed macro cues and evolving risk appetite among international investors.
Overall, the day’s landscape highlights a fragile equilibrium: select equities in Spain’s benchmark index found early buyers, while others endured initial selling pressure. The directional tone remains largely tethered to external developments, including energy price trajectories, sovereign yields, and the cadence of global economic data releases that could sway sentiment when markets resume full activity after the holiday lull. Market participants are watching closely for hints from forthcoming indicators, central bank commentary, and corporate earnings signals that could recalibrate expectations in the near term.