The IBEX 35 opened this Thursday with a dip of 0.61 percent, placing the index near 8,095.9 points as traders faced a calendar light on surprises and heavy on potential clues from PMI releases. Market participants also kept a close eye on Jerome Powell, the chair of the US Federal Reserve, whose statements could illuminate the path for inflation controls and monetary policy. The session carried a cautious tone as traders weighed recent data against expectations for further tightening and the global growth outlook, understanding that each data point could shift the balance between expansion and restraint.
In the backdrop, the US central bank signaled a steady commitment to price stability and ongoing vigilance over inflation. Observers note that a robust domestic economy might justify longer periods of tighter financial conditions, with rate hikes continuing to be a primary tool to curb price pressures. The mood across markets this week reflects a balancing act between durable growth momentum and the need to restrain inflation, a dynamic closely monitored by investors across continents as they price in risk and opportunity alike.
After a 1 percent decline on Wednesday, the Madrid stock market started the session clinging to the 8,000 point psychological threshold, with many stocks trading in the red and traders evaluating how the latest earnings forecasts, macro data, and geopolitical developments could alter the tempo of trading in Spain and throughout Europe. The day’s early action hinted at cautious positioning rather than a quick, aggressive move, as investors sought to anchor expectations in a landscape of evolving data and policy cues.
During the early stretch of Thursday trading, the most pronounced moves appeared among a mix of large and mid-cap names. Notable declines included Aena, down about 1.4 percent, Fluidra slipping roughly 1.32 percent, BBVA easing about 1.09 percent, Inditex trading near 0.87 percent in the red, Cellnex Telecom down around 0.82 percent, Merlin Properties losing close to 0.82 percent, and Iberdrola easing about 0.8 percent. On the flip side, Acciona rose around 1.96 percent, Solaria gained roughly 1.02 percent, and Colonial advanced about 0.54 percent, offering a counterpoint to broader weakness in the market and signaling pockets of resilience within the sector.
Across the rest of Europe, the opening trade showed softer momentum as major benchmarks in Frankfurt, Paris, and London each moved lower by about 0.5 percent. The synchronized start pointed to a shared sense of caution across the region as investors awaited clearer signals on monetary policy, inflation trajectories, and the outlook for growth amid varying earnings and data outcomes. Sentiment remained cautious, with participants weighing the potential for regional resilience against the risks posed by global headwinds and regulatory developments.
Meanwhile, market drivers in commodities and currencies played their own game. Brent quality crude hovered near 109 dollars per barrel, reflecting ongoing supply and demand dynamics in a global market that remains sensitive to geopolitical stress and macro signals. In the United States, West Texas Intermediate traded around 104 dollars after earlier gains faded, underscoring how energy markets react quickly to shifting macro narratives and political developments. The euro hovered around 1.0566 dollars, and the Spanish risk premium stood near 105 basis points, underscoring regional risk sentiment. The yield on the Spanish 10-year bond hovered around 2.687 percent, a reflection of how investors assess risk and the trajectory of interest rates within the country. The day’s price action served as a reminder that currency and bond markets often move in tandem with equity sentiment, amplifying or muting the impact of domestic policy moves on the broader regional economy.