The Madrid stock index opened at 9,222.50 points this Friday, a moment when investors also woke up to a flurry of data from Spain. May figures showed a drop in unemployment by 49,260 people, while the SGK reported 200,411 new registrations. These fresh numbers framed early trading as traders assessed the pace of the labor market and its potential impact on domestic growth and corporate earnings.
Meanwhile, attention shifted across the Atlantic to the United States where the May unemployment rate was released. The data indicated a decline to 3.4 percent, backed by the creation of 253,000 new jobs in April. The labor market remained resilient, guiding expectations for Federal policy decisions and influencing equity trajectories on both sides of the Atlantic as investors weighed caution against the prospect of continued momentum in employment gains.
In the early session, notable stock price movements emerged within the Ibex 35. ArcelorMittal led advances, rising around 2.01 percent, followed by Colonial with about a 1.96 percent gain, Grifols up 1.61 percent, Merlin Properties roughly 1.49 percent higher, and Sacyr advancing near 1.48 percent. On the other side of the ledger, Red Eléctrica posted a slight dip of about 0.09 percent, while ACS slipped about 0.08 percent at the opening, reflecting a mixed sentiment as investors priced in sector-specific risks and potential regulatory effects.
Across Europe, the major indices started the session with mostly positive dispositions. Frankfurt led with a gain near 0.72 percent, Paris advanced about 0.69 percent, Milan traded up around 0.62 percent, and London posted a rise close to 0.49 percent, underscoring a broad risk-on tone that supported European equities in early trading.
In the commodities arena, Brent crude, a benchmark for Europe, stepped higher by about 1.04 percent to trade near 75.05 dollars per barrel, with Texas light sweet crude trading around 70.79 dollars. The broader commodity complex appeared to be catching a bid as investors rotated into energy exposure amid expectations of stable demand and supply dynamics in the near term, helping to buoy associated equities and related sentiment.
Currency markets showed the euro hovering around a dollar and a quarter, with early quotes placing the euro at roughly 1.0769 against the greenback. In the debt market, Spanish 10-year yields approached a level around 3.29 percent, reflecting a balance between inflation concerns and the continuing search for favorable financing conditions as European bonds navigated a global rate environment.