The Ibex 35 opened this Tuesday with a 0.96% drop, placing the benchmark at 11,486.4 points as trading began at 9:00 am. Every constituent traded in the red, signaling broad tightening across the market. The session kicked off with a cautious tone, as investors prepared for a busy lineup of data and corporate updates that could steer European equities in the hours ahead.
The mood was shaped by anticipation of the OPEC monthly report amid renewed volatility in oil prices. Traders also looked ahead to corporate earnings, Germany’s Consumer Price Index, and the ZEW survey for Germany and the euro area, along with other influential data. The blend of energy-market sensitivity and corporate activity suggested varied moves for energy names and the broader index depending on how the figures landed and what central banks signal in the near term.
For the week as a whole, attention will also fall on October CPI and consumer-spending data from the United States. In Europe, markets will watch the second reading of October inflation for Spain and France, plus euro-area GDP figures and data from the United Kingdom. Taken together, these indicators can sway expectations for monetary policy and growth momentum, shaping risk appetite across regional markets.
Beneath the corporate banner, ScottishPower, the British arm of Iberdrola, announced a turbine contract valued at more than 1 billion pounds for the East Anglia TWO offshore wind project, according to a joint release from both companies. The deal underscores ongoing momentum in renewable energy projects and the role of large-scale wind capacity in Europe’s energy transition strategy.
In the early hours of trading, the Ibex 35’s steepest declines were registered by Colonial, down 2.84%, followed by Solaria at 2.46%, Acciona Energía at 1.92%, and Merlin Properties at 1.43%. The broad weakness among top-weighted names reflected a cautious atmosphere rather than idiosyncratic issues for these stocks, as investors weighed sector balance and macro cues.
The major European equity markets opened lower across the board: Paris fell 1.03%, Frankfurt 0.98%, Milan 0.86%, and London 0.50%. The negative start aligned with a risk-off tone, as investors paused to assess the trajectory of inflation, growth, and policy signals amid a heavy data calendar ahead.
At the market open, Brent crude, the European benchmark, traded at $73.95 per barrel, up 0.21%, while WTI posted a 0.22% gain to $68.17. The oil complex remained sensitive to supply concerns and demand expectations, leaving energy assets at the center of attention for many traders seeking directional clues.
In the currency space, the euro was near 1.0631 dollars, while debt markets showed the 10-year bond yield climbing to about 4.368%. The currency and yield dynamics reflected a mix of inflation concerns and expectations for policy normalization in major economies, a backdrop that can amplify volatility in both developed and emerging markets.