The IBEX 35 began the Monday session with a modest 1 percent uptick, placing it around 7,623 points at 09:01, as investors brace for a week that could see further volatility around the European Central Bank board meeting where another rate increase is anticipated.
Market participants expect fresh data this week, including third-quarter GDP readings and October inflation figures for Germany, alongside consumer confidence metrics and US third-quarter GDP. On the corporate side, a number of major Spain-based and European-angled corporations are poised to report quarterly results, with Enagás, Iberdrola, Santander, Aena, PharmaMar, Repsol, Ferrovial, Sabadell, Acerinox, BBVA, CaixaBank, IAG, and Mapfre among those in focus for investors.
Looking at the Madrid stock market, the selector started the session after a Friday retreat of 1.29 percent, but managed a 2.21 percent rise across the week, and it traded above the psychological 7,600-point barrier. The day’s moves followed the news that China’s economy grew 3.9 percent year over year in the third quarter, a confirmation that the domestic economy remains on a positive though cautious footing.
In the earliest moves of Monday, the standout gains came from Santander up about 2 percent, BBVA up around 1.8 percent, Sabadell up roughly 1.38 percent, Amadeus up about 1.24 percent, and Telefónica advancing around 1.14 percent. Sacyr added nearly 1 percent, while Repsol slipped about 0.73 percent and Grifols fell roughly 0.26 percent, marking the uneven tone across components of the index.
Across the rest of Europe, trading opened with a firmer tone: Frankfurt higher by roughly 1 percent, Paris up around 0.8 percent, and London edging 0.2 percent higher, illustrating a synchronized early day rally with regional momentum.
Commodity markets showed a softer bid, as Brent crude—used as the benchmark for European oil—dipped about 0.89 percent to near $90 per barrel, while US crude (WTI) slipped around 0.88 percent to roughly $84. The currency markets reflected a steady but cautious backdrop, with the euro trading slightly above parity against the dollar at approximately 0.9855 dollars per euro. The Spanish risk premium hovered near 111 basis points, and the yield on the 10-year Spanish bond stood around 3.435 percent, underscoring the prevailing yield environment facing euro area investors.