Ibex 35 began trading on Wednesday with a modest 0.3 percent dip, pausing at 8,308 points just after 9:01 a.m. local time as investors positioned themselves ahead of the euro area third quarter GDP revision. Across the Atlantic, markets were subdued as Wall Street closed in the red, setting a cautious tone for European equities. The Madrid Stock Exchange opened near the 8,300 threshold, a psychologically important level that often acts as a blunt gauge of trader sentiment. The Dow Jones slipped about 1.44 percent, the S&P 500 fell roughly 2 percent, and the Nasdaq edged lower as well, signaling a broad risk-off mood that morning.
At the opening bell, the most notable declines came from heavyweights in the Spanish market. ArcelorMittal led losses among blue chips with a drop around 1.36 percent, followed by Acerinox and Grifols each down about 0.86 percent. Cellnex Telecom retreated about 0.84 percent, while Indra also slipped modestly. On the brighter side, Bankinter registered a gain near 0.67 percent, and Naturgy Energy along with Aena and Colonial posted small advances in the first trades of the session.
Across the rest of Europe, the mood remained tentative. Frankfurt opened down by about 0.3 percent and Paris by roughly 0.1 percent, whereas London managed a slight gain of around 0.3 percent as investors weighed the near-term economic signals and potential policy moves. Brent crude, the benchmark for Europe, softened around 0.33 percent to hover near 79 dollars per barrel, while West Texas Intermediate quotes slipped about 0.55 percent to around 74 dollars. The euro traded near parity with the dollar, with an exchange rate around 1.0454, reflecting ongoing currency dynamics in a region facing mixed macro data. The Spanish 10-year bond yield stood a touch lower, while the country’s risk premium hovered at the mid-90s basis points range, signaling a relatively contained risk outlook for now. These conditions framed a cautious trading day as markets prepared for the GDP revision that could recalibrate growth expectations for the eurozone.