On Friday, the IBEX 35 edged higher in early trading, showing a 0.35% uptick as investors awaited a key meeting. The index hovered around the 7,944.5 mark at 9:01 a.m., as energy ministers from the European Union prepared to discuss mandatory targets aimed at curbing electricity consumption and limiting certain subsidies. The conversations center on stabilizing energy prices and ensuring secure supply for the winter ahead, with particular attention to renewable and nuclear power producers often described as contributing to the volatility in markets. (Source attribution: Reuters)
Following a close that was 0.78% stronger the previous session, Madrid’s benchmark opened in positive territory again, trading around the 8,000 level on optimism sparked by a notable ECB agreement. The central bank was reported to be moving ahead with a 75 basis point rate hike, marking its highest level in more than a decade and fueling renewed risk appetite among regional investors. (Source attribution: Reuters)
In the early moments of Friday’s session, several majorities led the gains. BBVA rose about 2.34%, ArcelorMittal advanced roughly 2.18%, Sabadell gained about 1.7%, Santander climbed around 1.11%, and Grifols added near 0.8%. On the downside, Telefónica slipped about 0.61%, Iberdrola fell around 0.35%, Endesa dipped roughly 0.21%, Siemens Gamesa edged down about 0.08%, and Inditex showed a marginal decline near 0.02%. (Source attribution: Reuters)
Across the rest of Europe, broad indices started the day with modest gains: the Frankfurt and Paris bourses up by about 0.3% and London posting gains near 0.7%. The move comes amid a mix of earnings, macro data, and evolving energy policy signals that are shaping near-term risk sentiment for European equities. (Source attribution: Reuters)
Oil markets reflected a cautious tone as well. Brent crude, which serves as the benchmark for Europe, rose by roughly 0.4% to around $89 per barrel, while West Texas Intermediate also pushed higher, trading near $83. The shifts in energy pricing are closely watched by traders for their potential impact on industrial costs and consumer prices across the region. (Source attribution: Reuters)
The euro meanwhile traded near parity with the dollar, around $1.00 to the euro, underscoring ongoing currency dynamics that feed into corporate earnings and inflation expectations. The broader risk premium remained elevated, with the 10-year Spanish yield hovering in the vicinity of 2.89%, a level that informs borrowing costs for governments and private sector financing. (Source attribution: Reuters)