On Tuesday, the Mountain Goat 35 started the session with modest moves, showing a slight decline of 0.22% as the selector hovered around 9,268.87 points. Markets awaited the second June tender, with expectations ranging from 4.5 to 5.5 billion euros spread across 6 and 12 month maturities, a signal that liquidity remains ample for public treasury activity.
Observers expect forthcoming market announcements that will center on macro data, including German factory orders and eurozone retail sales, as well as purchasing managers’ indices for construction activity across Italy, the United Kingdom, France, and the broader euro area. These data points are watched closely as they tend to steer sentiment and short‑term trading strategies.
Madrid’s main index managed to hold above the 9,200 level after a downturn that extended to yesterday’s session. News from Spain’s industrial sector during April signaled a yearly drop of about 4% in production, a sharper decline than expected, and marking the steepest fall since January 2021 according to the Instituto Nacional de Estadística (INE). This context helped temper intraday moves as traders weighed the pace of recovery against structural headwinds.
In early trade, the strongest performers within the Ibex 35 included Mapfre, gaining around 0.53%, Enagás up about 0.46%, Acerinox adding 0.30%, Acciona rising 0.27%, and Red Eléctrica finishing roughly 0.16% higher. On the downside, Banco Sabadell fell roughly 1.25%, CaixaBank shed 0.97%, BBVA declined about 0.76%, and Fluidra slipped around 0.7% on the day. The breadth of moves reflected a market seeking direction amid mixed macro signals and sector-specific headlines that influence investor appetite for risk and defensive plays alike.
Europe’s principal equity benchmarks opened the session with modest contractions: Italy’s Milan stock exchange down around 0.22%, Paris flat to slightly lower near 0.05%, London about 0.04% softer, and Frankfurt showing a similar early drift. These initial moves set the tone for regional markets as investors weighed earnings, inflation expectations, and political developments across Europe.
Commodity markets mirrored a cautious tone, with Brent crude—the benchmark for Europe—stalling near $75.92 per barrel, down about 1.04% on the session. Texas Intermediate followed suit, trading near $71.31, down roughly 1.16%. The pullback in oil prices contributed to a softer energy complex but helped ease some inflationary pressures that domestic policy watchers monitor closely.
In foreign exchange, the euro traded around 1.0722 against the dollar, reflecting ongoing divergence between euro-area growth dynamics and monetary policy expectations. Spain’s credit metrics remained under scrutiny as the country’s risk premium hovered near 99.7 basis points, while the yield on the 10-year Spanish bond stood around 3.392%. These metrics are watched by traders and institutions for signals about capital flows, sovereign risk, and long‑term financing costs.