The market mood started Thursday with a small advance, lifting select equities and nudging the Ibex 35 higher by about 0.04 percent as traders positioned ahead of key disclosures. The index hovered near 9,891.4 points while investors awaited the release of the European Central Bank’s latest monetary policy minutes, a session normally rich in clues about policy direction and economic momentum.
Trading floors were expected to be quiet in New York and across much of the United States due to holiday observances, with Thanksgiving prompting shortened sessions. The pause in major U.S. activity aligned with similar pauses in some European markets, underscoring a cautious tone as traders waited for fresh signals from policymakers and corporate updates alike.
Attention also lingered on the upcoming appearance of European Central Bank Council member Isabel Schnabel in Porto, Portugal, a moment that could carry weight for euro area policy interpretation and market expectations as talks around inflation and growth conditions continue.
In Iberia’s corporate landscape, Endesa informed the National Securities Market Commission that it intends to keep investments around 9 billion euros over the next three years and has revised its dividend policy for 2024-2026, signaling a durable return for shareholders with an initial base dividend of 1 euro per share and a projected rise to 1.5 euros by 2026 as the company completes its strategic reallocation plan.
At the opening bell, the Ibex 35’s strongest gainers included Repsol, up about 0.91%, followed by Rovi and Unicaja Banco, each around 0.6-0.8%, with Colonial showing a similar uptick. Conversely, Endesa fell into the laggards, alongside Iberdrola and IAG, reflecting a mixed session where several components diverged in performance as sector rotation continued.
Across Europe, markets opened with a mixed pulse: Paris rose modestly by approximately 0.11%, while London, Frankfurt, and Milan posted modest declines around the low-tenths of a percent, painting a picture of cautious sentiment as investors weighed regional growth signals, corporate earnings, and policy commentary. The energy complex also moved in step with the broader risk mood, with Brent crude slipping about 0.7 percent to around 81.39 dollars a barrel, and WTI crude hovering near 76.62 dollars as the day began. These shifts reflected ongoing supply-and-demand dynamics in a post-pandemic energy landscape and the regional demand outlook for the quarter.
In the currency and debt markets, the euro traded near 1.09 against the U.S. dollar as traders assessed the pace of European inflation cooling and the prospect of further policy normalization. On the sovereign side, Spain’s 10-year government bond yield edged higher, touching about 3.57 percent as investors priced in ongoing fiscal and economic considerations within the euro area and the broader Atlantic market environment.