A midweek session sparked the market, with a 0.24% rise that lifted the benchmark index to 10,027.7 points, the highest level seen since 2020. The move kept the psychological threshold of 10,000 points within reach on the day when Spain released its advanced Consumer Price Index data.
At the start of the session, it was noted that the CPI for November showed a 0.4% month‑over‑month decline. This softer price pace helped lower the annualized borrowing costs, with the rate easing to 3.2 percent. The improving price picture was driven by cheaper fuel and more affordable travel packages, while the year‑over‑year rise in food costs remained modest.
In November, core inflation, which excludes unprocessed food and energy, slid seven tenths to 4.5%. That reading marks the lowest core rate since April 2022, when it stood 1.3 points above the overall CPI at 4.4%. This signals a narrowing gap between core pressures and headline inflation, a detail closely watched by policymakers and markets alike. (Source: national statistical agency and economic briefing)
Also in macroeconomic news, the first quarterly review of the United States’ Gross Domestic Product for the third quarter was released today, alongside the Federal Reserve’s Beige Book summaries. The updates provide a broad view of the health of the economy and the current stance of monetary policymakers. (Source: Bureau of Economic Analysis; Federal Reserve publication)
On the corporate front, Ferrovial announced the sale of its 25% stake in TopCo after finalizing an agreement with Ardian and Saudi Arabia’s Public Investment Fund (PIF). The deal values the holding company that operates London’s Heathrow Airport at 2.7 billion euros. Under the terms, infrastructure funds managed and advised by Ardian will acquire 15% of the shares, while the Public Investment Fund will obtain an additional 10% stake through independent vehicles. (Source: company disclosure and market filings)
In early trade, European indices showed mixed momentum, with Ferrovial up 2.49%, Cellnex up 1.04%, and Colonial advancing 0.84%. On the negative side, Repsol slipped 0.21%, Mapfre fell 0.29%, and Rovi retreated 0.27%. These moves reflected a rotation among sectors as investors weighed earnings signals and policy cues. (Source: exchange data; market participants)
Across Europe, the major stock exchanges opened with a mixed tone: London dipped 0.45%, while Frankfurt, Milan, and Paris posted gains of 0.25%, 0.16%, and 0.09% respectively. In the commodities market, Brent crude traded above 81 dollars a barrel, reflecting a modest retreat of 0.06%, while a separate benchmark in the United States showed a subtle uptick to about 76.45 dollars as traders kept an eye on supply signals. (Source: regional exchange reports; commodities desks)
In currency markets, the euro traded around 1.0991 dollars, keeping Spain’s risk premium near 100 basis points. The yield on the 10-year Spanish bond hovered near 3.442%, a level that captures ongoing concerns about sovereign funding costs amid shifting monetary expectations. (Source: currency and bond market summaries)
The broader market mood, along with these mixed signals on inflation, growth, and policy, helped set a cautious tone for investors navigating the crosswinds of global data releases and corporate activity. (Source: market overview and official data releases)