Ibex 35 opened Thursday’s trading session with a cautious tone as investors absorbed the latest data ahead of several market catalysts. The index slipped 0.32%, trimming roughly 10,100 points and landing near 10,068.6 for the day, a level closely watched as traders await the release of the United States third‑quarter Gross Domestic Product (GDP) figures. The movement reflects a risk-off atmosphere as investors calibrate expectations for earnings, policy signals, and macro indicators across major economies.
Across the Atlantic, U.S. unemployment claims were released while Spain’s October housing mortgage data arrived at the start of the session. Mortgage lenders faced a sharp pullback, with the sector’s headlines showing a 22.3% drop in some segments. The October data also highlighted a modest uptick in the average mortgage rate, echoing broader trends in financing costs, with the month ending at an average rate of 3.32% as lenders recalibrate pricing amid evolving credit conditions.
Within Ibex 35, Bankinter’s board announced a leadership transition under the group’s governance plan. The board proposed Gloria Ortiz to assume the role of chief executive, taking over from Maria Dolores Dancausa, who will transition to the role of non-executive chairman. The move, communicated by the company after close of business, signals a strategic shift in management as the bank seeks to balance growth, risk management, and shareholder value amid an evolving regulatory environment. The market reaction remained mixed as investors weighed the change in leadership against immediate earnings prospects and guidance for the year ahead.
In the early hours of trading, the market breadth showed the day’s pressure points. The steepest declines came from Colonial, down 1.29%, followed by Rovi at 1.20%, Grifols slipping 1.17%, and Cellnex retreating 1.03%. On the brighter side, Bankinter advanced 0.44%, Logista rose 0.33%, and BBVA posted a marginal 0.07% gain, collectively offering some defensive anchors as traders looked for pockets of stability within sectors sensitive to interest rates and credit trends. The performance snapshot underscored the uneven risk sentiment as investors reassess sector equities in a climate of mixed inflation signals and central bank expectations.
Across Europe, early trading framed a broadly negative tone for major stock indices. Milan led the regional decline with a 0.48% drop, followed by Paris down 0.44%, Frankfurt at 0.43%, and London slipping 0.32%. The synchronized move reflected a shared sensitivity to macro data releases, geopolitical developments, and the global growth outlook, with investors reassessing valuations in light of potential policy normalization timelines among major central banks.
Commodity markets opened with modest moves. Brent crude, the benchmark for European markets, edged higher by 0.24% to around $79.89 per barrel as traders balanced supply dynamics with demand considerations. In the United States, West Texas Intermediate (WTI) advanced about 0.15%, trading near $74.33 per barrel, underscoring a cautious optimism about near‑term crude fundamentals amid ongoing demand recovery in multiple regions.
Currency markets also painted a cautious picture. The euro traded at approximately 1.0952 per U.S. dollar, reflecting residual divergence in European and U.S. monetary policy expectations. Spain’s sovereign risk premium hovered around 93 basis points, while the yield on Spain’s 10-year government bond stood near 2.907%, indicating continued sensitivity to macro data and fiscal metrics in the euro area as investors weigh future inflation trajectories and growth prospects.