The session opened on a Friday with a slight correction of 0.66%, nudging the selector away from the pivotal 9,300 level. The move marked a cautious start as investors weighed a thin mix of company updates and macro signals for the day ahead.
Madrid’s stock market opened near 9,265, following a close of 9,327 the previous session. That nearby benchmark stands as the highest level recorded since late February 2020, just before the Covid-19 crisis reshaped trading patterns across Europe.
Market participants will keep an eye on fresh corporate results and key macroeconomic data from France, including the consumer price index, which could sway sentiment in the near term.
In the early minutes of trading, the biggest gains were seen in CaixaBank and Sacyr, with Bankinter and Repsol also contributing meaningful upward movement. Bankinter rose about 0.4%, while Logista advanced roughly 0.3% as buyers appeared in several sector names.
On the downside, the weaker momentum was led by Ferrovial, which slid around 3.1%, along with Grifols dropping about 2.2%. Fluidra, Amadeus, and ArcelorMittal also faced pressure, each retreating around 1% or a bit more, illustrating a broad risk-off tone in early trading.
The broad European equity landscape opened lower as well. Major indices in Frankfurt and Paris traded about 0.8% lower, with Milan off around 0.6% and London slightly down, close to 0.4% at the opening, signaling shared concerns across the continent.
Commodity markets followed the softer mood. At the session’s start, Brent crude, the global benchmark for Europe, traded down about 1.4% at roughly $83.91 per barrel, while West Texas Intermediate was weaker by about 1.6%, hovering around $77.23 per barrel. These moves point to ongoing volatility in energy strips as traders reassess supply-demand dynamics and the potential impact of global growth signals on oil demand.
In currency markets, the euro hovered near $1.064, reflecting ongoing European currency dynamics amid shifting interest rate expectations and a backdrop of inflation containment hopes. The Spanish risk premium was around 105 basis points, with the anticipated yield on the 10-year benchmark close to 3.607%, illustrating the relative risk environment facing euro-area borrowers today.
Overall, the day’s early action painted a cautious tone across European equities, with a mix of resilient names driving pockets of upside while heavyweight indices and cyclical sectors faced selective selling pressure. Investors will continue to monitor earnings releases and macro indicators as the week unfolds, seeking clues about the trajectory of economic growth, inflation, and policy responses in the near term [Market data cited from financial desk reports].