Ibex 35 Opens Week Higher as Markets Digest Early Data
Ibex 35 began the week with a modest gain, advancing 0.24 percent as investors stepped into the session with cautious optimism. The index climbed past the 10,100 point psychological barrier and touched 10,119.3 points during a day that saw a broad rally in U.S. stocks, even though Wall Street was closed in observance of Martin Luther King Jr. Day.
From a macro perspective, investors kept an eye on Eurozone industrial production data and a key gathering of the Eurogroup. The meeting includes Christine Lagarde, president of the European Central Bank, whose remarks are closely watched for any signals on monetary policy and inflation trajectories across the euro area.
On the corporate front, attention remained fixed on Grifols and other heavyweight names. Grifols closed Friday, January 12, at 8.874 euros, marking a notable retreat from the January 5 close of 14.57 euros. The week carried the weight of recent volatility tied to the Gotham City Research fund’s contesting actions, which unsettled sentiment among investors.
The week also features the World Economic Forum gathering in Davos, running from Monday through Friday. The event is set to attract a strong Ibex 35 presence, with Spain’s leadership represented by Prime Minister Pedro Sánchez and Economy Minister Nadia Calviño, who recently transitioned to the presidency of the European Investment Bank. Calviño’s appearance underscores the forum’s role as a hub for policy discussion and cross-border economic plans.
In early trading, several Ibex components posted gains. Grifols jumped 5.45 percent, Solaria rose 1.09 percent, Banco Sabadell gained 0.96 percent, and BBVA advanced 0.7 percent. On the downside, Meliá Hotels faced pressure, while other notable declines included IAG and a few other laggards, reflecting mixed tech and consumer sensitivities in the Iberian market.
Across Europe, stock markets opened with a mixed tone. London nudged higher by about 0.11 percent, while Frankfurt dipped by roughly 0.09 percent, Milan eased around 0.06 percent, and Paris opened flat. The regional mood mirrors ongoing macro uncertainty and the cautious stance that has characterized the early-year trading season.
Commodity and currency movements provided additional color to the session. The Brent crude oil price, a global benchmark for energy markets, edged up to around 78.43 dollars per barrel. The U.S. dollar generally held firm, reflecting a mild improvement in risk appetite and the sustained flow of liquidity into energy and materials sectors. In the currency market, the euro strengthened modestly against the dollar, trading near 1.0958, a sign of ongoing divergence in European monetary policy expectations versus the United States. In the debt market, Spain’s 10-year yield inched higher, approaching 3.124 percent as investors weighed inflation risks and fiscal stability across the country.
The overall picture this Monday shows a market in transition: pockets of resilience in financials and energy names contrast with pockets of softness in tourism and discretionary sectors. Investors remain watchful for fresh data and policy cues, while the Davos gathering intensifies the dialogue on economic reform, energy transition, and the global trajectory of growth in the coming quarters.