Markets in Madrid began the session with a modest advance, as the Ibex 35 moved into positive territory on the back of early data releases and the latest U.S. Federal Reserve minutes. The benchmark closed the prior session at 10,186.80 points, and investors were digesting Spain’s unemployment figures alongside the Fed minutes as European trading opened. The overarching tone suggested a cautious but hopeful mood among investors in North America and Europe alike. (Source: Madrid Stock Exchange intraday notes)
The strongest gains at the outset came from the financial sector, where Unicaja Banco led the pack with a 0.87% rise. Mapfre followed closely, adding 0.81% to its share price, reflecting continued demand in insurance and related financial services. Other bank equities joined the rally as trading commenced, with Sabadell up 0.74%, CaixaBank advancing 0.73%, BBVA up 0.64%, Bankinter at 0.47%, and Santander rising 0.40%. (Source: Madrid Stock Exchange intraday notes)
In addition to the finance names, several non-financial components contributed to the early uptick. Iberdrola climbed 0.67% as a flagship energy stock, while Telefónica added 0.52%, underscoring resilience in the telecom sector as markets process policy signals and global demand trends. (Source: Madrid Stock Exchange intraday notes)
On the downside, a few late-cycle or cyclicals traded lower at the opening. Fluidra declined by 0.78%, Grifols fell 0.71%, and Aena slipped 0.70%, signaling a mixed rotation among European equities as traders weigh upcoming earnings and macro cues. (Source: Madrid Stock Exchange intraday notes)
Across the wider European market landscape, early readings showed mixed performances. London’s Ftse 100 ticked up about 0.27% in the opening trades, while Frankfurt’s Dax barely inched higher, with a minimal gain near 0.03%. Paris’s Cac 40, conversely, moved into negative territory, surrendering around 0.06% in the first minutes of trade. The session highlighted divergent regional momentum as investors reassess monetary policy expectations and growth outlooks. (Source: European market opening notes)