Overview of the Ibex 35 session and European market movements
The Ibex 35 opened the Friday session slightly lower, slipping by 0.13 percent. At 9:01 a.m., the index hovered around 8,150.65 points as traders waited for the United States jobs report to provide fresh cues. This pause came after a week punctuated by notable volatility, with investors weighing domestic economic signals against global indicators that could shape risk appetite in the days ahead.
The previous session closed with a modest 0.2 percent gain after the Bank of England decided to raise interest rates by 50 basis points to 1.75 percent, marking the strongest tightening move in 27 years. Against this backdrop, the Madrilenian benchmark reached the 8,100 level, a psychological barrier that observers note often acts as a magnet for traders during uncertain times. The index began Friday clinging to that critical threshold, watched closely by market participants who interpret it as both a confidence gauge and a potential pivot point for near-term trading sentiment.
In the early trading hours, the market’s most pronounced declines were seen in Grifols, down 1.21 percent, followed by Meliá Hotels at 1.05 percent, Colonial at 0.84 percent, Bankinter at 0.42 percent, and Repsol slipping 0.38 percent. On the brighter side, PharmaMar led gains with a 1.47 percent rise, while Caixabank added 1.03 percent. Sabadell advanced 0.68 percent, Fluidra rose 0.48 percent, and Naturgy edged higher by 0.47 percent as investors rotated into sectors considered relatively defensive or stable in the current environment.
Across Europe, the rest of the major markets showed a sideways trend as traders assessed corporate updates, monetary policy signals, and regional economic data. Frankfurt, Paris, and London all opened with a similar neutral tone, reflecting a broader mood of caution as participants awaited directional catalysts that could broaden risk assets in the near term.
The energy complex offered a dose of volatility complemented by a touch of stability. Brent crude, the global benchmark for European oil, moved higher by about 0.63 percent to around $94 per barrel, while U.S. oil, Texas Intermediate, gained roughly 0.73 percent, trading near $89. This price action aligns with a period of fluctuating demand expectations and geopolitical considerations that persistently influence energy markets and inflation outlooks across Europe.
Meanwhile, the euro traded around $1.0236 against the U.S. dollar, with a risk premium of roughly 110 basis points. The Spanish 10-year sovereign yield stood near 1.916 percent, reflecting ongoing risk sentiment and the country’s borrowing costs under the current macro framework. These indicators collectively paint a picture of a Europe navigating inflation pressures, a path toward monetary normalization, and the sensitivity of regional markets to global labor data and policy communications.