The mountain index opened with a modest gain, nudging above the 9,200 mark and settling around 9,235.40 as trading began. Market sentiment still bears the imprint of the ongoing conflict between Israel and Hamas, with early moves hinting at continued volatility as sessions unfold. In the opening minutes, Ibex 35 managed to push higher, climbing past the 1% threshold and showing resilience amid mixed global cues.
Today’s attention is focused on European policy signals and central bank commentary. Christine Lagarde, president of the European Central Bank, and Fabio Panetta, a member of the ECB’s Executive Board, are in the spotlight as markets await guidance on monetary strategy. Additionally, Panetta is slated to assume a new leadership role at a major international financial institution, while ongoing discussions about leadership changes at a leading global bank also color investor expectations. The coming days will see strategic positioning ahead of policy statements in the region, with Italy’s economic plans and market implications anticipated for early November.
Looking at the macro calendar, investors are awaiting the release of major inflation metrics. Germany’s CPI figures, followed by minutes from the Federal Reserve’s latest policy meeting, are on the docket for announcement this midweek. The broader U.S. CPI release is scheduled for Thursday, alongside updated inflation readings from Spain. Market watchers expect these reports to influence risk sentiment and gauge the trajectory of policy normalization across major economies.
In the early phase of the session, the leaders among Ibex 35 gainers included Colonial positively contributing over two percent, Sacyr rising close to two percent, and Grifols showing a solid one-and-a-half percent advance. On the losing side, Fluidra and Indra traded in the red, underscoring the breadth of moves across the index as traders weigh sector-specific dynamics against broader macro signals.
Across Europe, major stock exchanges opened higher as investors rotated into risk assets. Milan led with gains around 1.05 percent, followed by Paris, Frankfurt, and London, each advancing roughly 0.9 percent or a touch more. The upbeat tone mirrored improved risk appetite and a cautious optimism about the regional economic outlook amid ongoing policy developments.
Commodity and currency markets reflected a similar mood. The price of Brent crude hovered at a marginally firmer level, helping support energy-linked equities. The dollar, a benchmark for the European market, slipped slightly, while U.S. regional benchmarks and currencies showed modest tread water as traders recalibrated positions ahead of key data releases. In the foreign exchange market, the euro stood around 1.0563 against the dollar, with the Spanish risk premium hovering near 114 basis points as investors assessed credit conditions and debt sustainability in the region. The yield on the benchmark 10-year Spanish bond remained near 3.908 percent, indicating a balanced risk environment with potential for volatility as new data arrives.