The Ibex 35 began Friday’s session, the final trading day of the week, almost unchanged with a tiny dip of 0.02%. This modest slide helped guard the 10,100 level as a psychological reference point, with the index hovering just above the round figure of 10,102.7 at the moment when Spain’s GDP for the third quarter was released.
Early in the session, it became clear that the Spanish economy expanded by 0.3% from July to September, a tenth slower than the previous quarter, driven in part by continued consumer spending. Investments, however, turned negative according to the National Institute of Statistics (INE) and its late-October updates, which recorded the quarterly performance and provided the latest snapshot of domestic demand dynamics.
Beyond Spain, the European macro picture was set for a busy day. The session would feature UK GDP for a new quarter, Germany’s import price index, France’s producer price index, and Italy’s industrial activity data. Across the ocean, in the United States, new home sales and the University of Michigan’s consumer sentiment index were expected, offering a broader context for global risk appetite and currency moves.
Within the Ibex 35, the early movers showcased a mixed breadth of gains and losses. Banco Sabadell led the way among advances with a 0.58% rise, followed by Acciona Energía up 0.57% and Fluidra adding 0.53%. On the flip side, the session’s underperformers included Inditex dropping 0.61%, Solaria slipping 0.59%, and Amadeus retreating by 0.40%, painting a portrait of sector rotation and the sensitivity of high-weighted constituents to shifting sentiment.
Across Europe, trade opened with a blend of trajectories. London, Paris, and Frankfurt each posted small declines of 0.14%, 0.04%, and 0.03% respectively, while Milan managed a modest 0.06% gain, underscoring the divergent regional responses to the day’s macro cues and corporate updates.
Commodity markets reflected the same cautious mood. The Brent benchmark, used as the European oil standard, traded above $80 per barrel as oil markets extended a cautious rally of about 1.07%. In the U.S. state of Texas, crude prices rose roughly 1.06% to around $74.67, highlighting the days’ parallel movements between energy and equities in a climate of measured risk appetite.
From a currency perspective, the euro steadied near $1.1006 against the U.S. dollar, suggesting a relatively balanced cross-border flow for European exporters. Spain’s risk premium hovered near 92 basis points, and the yield on the benchmark 10-year Spanish government bond stood at approximately 2.910%, reflecting investors’ ongoing assessment of Spain’s fiscal outlook within the broader euro area framework.