The Ibex 35 began the session on Wednesday with a cautious tilt as markets marked All Saints Day. The index edged higher, climbing above the 9,040 point threshold while investors awaited signals from global policy makers. A modest 0.3 percent rise set the tone for a day that would test momentum and carry mixed sentiment across European assets.
In the early moves, Inditex stood out as the biggest influencer on the Ibex 35, steering the day’s direction. Bank values saw supportive activity as Banco Sabadell advanced about 1.25 percent, followed by Rovi with a gain near 1.09 percent, contributing to a net uptick of around 1.6 percent for the market depending on the timing of trades.
On the opposite side, Redeia moved lower after releasing its September results, shedding around 1.16 percent. Colonial and Solaria also traded weaker, down about 0.81 and 1.13 percent respectively, masking some of the broader strength seen elsewhere in the index.
As a result, the Ibex 35 finished October with a decline of more than 4 percent, a reversal from a prior period when gains had helped lift the index at times during the month. The broader trading environment remained fragile as investors weighed earnings, macro data, and policy cues.
Across Europe, other leading exchanges opened in positive territory on the day. Frankfurt rose roughly 0.3 percent, while London advanced about 0.32 percent, underscoring a synchronized though uneven start for regional markets.
Market participants prepared for a key event later in the session: the Federal Reserve meeting. The prevailing expectation among analysts was that interest rates would be left unchanged in the 5.25 to 5.50 percent range, a move that could influence risk appetite and sector rotation in the near term.
From the commodity space, Brent crude traded above 85.56 dollars a barrel, signaling sustained strength in European oil benchmarks. U.S. light crude, exemplified by Texas oil, rose to around 81.47 dollars per barrel. In the foreign exchange market, the euro traded near 1.0560 against the dollar, reflecting ongoing currency dynamics amid global policy expectations.