The market moved through another Friday session with a modest gain of 0.53%, guiding the Madrid index toward a higher footing as investors watched a flood of earnings reports and macro indicators, including Spain’s CPI and the UK GDP release. The day started with positive momentum as traders positioned ahead of key data, helping the index climb toward the 9,231 level and set a reassuring tone for a session crowded with corporate results and economic updates across Europe.
After closing Thursday up 0.16%, the Madrid selector aimed to regain the 9,200 mark as the National Institute of Statistics in Spain reported an interannual rise of 0.6% from the prior month. The annual figure climbed by eight-tenths to 4.1%, with the April CPI release capturing attention and shaping sentiment for the day’s trading. The data underscored the inflation backdrop and its potential implications for domestic policy and share prices across sectors.
Before the bell, investors had already absorbed news that the United Kingdom’s GDP showed a 0.1% expansion, maintaining a parallel with the growth trajectory seen in the fourth quarter of 2022. As markets prepared for the next moves, attention turned to the European Central Bank and its vice president Luis de Guindos, along with the broader macro picture and earnings results anticipated in European trading hubs, including Barcelona’s activity corridor.
At the opening whistle, the Ibex 35 posted selective gains among blue chips. Acerinox led with about a 2.1% rise, followed by IAG up roughly 1.41%, CaixaBank around 1.36%, and Ferrovial near 1.34%. Some names edged lower, with Solaria sliding about 2% while Naturgy Energy eased nearly 0.92%, Repsol declined around 0.54%, and Acciona eased about 0.25%. The balance of the index showed a broader spectrum of movement as traders weighed earnings and macro commentary against prices across the energy, financial, and industrial sectors.
Across Europe, other major markets opened higher, with Paris advancing about 0.7%, Milan up around 0.66%, and Frankfurt and London gaining roughly 0.38%. The broad-based improvement reflected a cautious but constructive mood as investors digested earnings and macro signals before the weekend. In energy markets, Brent crude slipped about 0.56% to near $74.56 per barrel, reflecting a softer European energy complex, while U.S. benchmark WTI indicated a mild retreat around 0.48% to about $70.53 per barrel, underscoring a global price reaction to near-term supply dynamics.
On the currency front, the euro traded around $1.0931, signaling persistent exchange-rate dynamics amid regional macro considerations. Spain’s risk premium hovered around 107.2 basis points, and the yield on the benchmark ten-year bond settled near 3.332%, signaling a steady but sensitive environment for fixed income within the euro area. The day’s combination of earnings, inflation readings, and growth data shaped a nuanced market tapestry, where investors weighed the balance between growth momentum and price pressures while positioning for upcoming policy commentary and earnings cycles.