The mountain market opened cautiously with modest moves as the week kicked off. Early trading showed a slight dip of 0.15% from the prior session, with the Ibex 35 hovering around a key level while the day’s agenda leaned toward results and transactional activity rather than major macro cues. Investors kept a close watch on the balance between earnings announcements and ongoing business developments, weighing confidence against caution as money flowed through various sectors.
Specialty alloys group Haynes International has entered a binding agreement to be acquired by Aserinox, a deal valued at 798 million dollars (740.3 million euros). The purchase, disclosed to the National Securities Market Commission, marks a strategic expansion into high-performance materials and signals a shift in the sector as consolidation accelerates in response to rising demand for engineered alloys across industries.
Logista reported a robust first fiscal quarter for 2024, spanning October to December 2023, with net profit reaching 73 million euros. The figure represented a 21.9% year-on-year increase, underscoring the company’s resilience amid a recovering consumer environment and steady logistics demand as distribution networks adapt to post-pandemic patterns.
During the opening stages of Monday’s session, the Ibex 35 saw several lenders and industrials leading the gains. Bankinter rose 1.21%, Banco Sabadell gained 1.20%, Unicaja Banco added 1.02%, and Merlin Properties advanced 0.97%. In contrast, Banco Santander weighed on sentiment after trading down 1.26%, followed by ArcelorMittal (-0.70%), Repsol (-0.41%), and Acerinox (-0.27%). The market landscape reflected a mix of sector rotations as participants recalibrated positions ahead of broader earnings releases and policy updates.
The broader European stock environment opened higher with green across major indices: Milan led with a 0.98% advance, London nudged up 0.06%, Paris edged higher by 0.03%, and Frankfurt added 0.02%. The day’s tone suggested renewed investor appetite for risk-on trades as regional economic indicators remained modest but supportive of continued activity in financials and industrials.
Crude benchmarks followed a similar pattern, with Brent crude trading near the day’s opening barrel. The U.S. market-based gauge rose by 0.26% to around 77.53 dollars per barrel, while Texas intermediate crude posted a 0.14% gain, hovering near 72.38 dollars per barrel. The price trajectory reflected a balance between supply considerations and ongoing demand recovery, with traders assessing geopolitical signals alongside inventory data.
In the currency arena, the euro strengthened against the dollar, settling around 1.0779 dollars per euro as traders evaluated eurozone sentiment and U.S. dollar dynamics. On the fixed-income side, the Spanish 10-year government bond yielded 3.181%, a reflection of rate expectations and the environment for risk-free borrowing in southern Europe as the year progresses.