In a quiet start to the week, the Ibex 35 opened with modest gains as macro data from Germany showed a dip in industrial output, followed by a cautious mood across European markets. Investors weighed the latest numbers against an environment of central bank vigilance, with the index nudging higher as trading began. The day unfolded with a sense that European equities were debating the path of growth and inflation, while local traders looked for clues about the region’s economic resilience.
Across the region, Spain’s stock market climbed slightly on Monday while other major centers displayed mixed signals. Madrid’s parquet showed minor advances, in contrast to some declines seen in Paris and Frankfurt, and expectations for a busy week with policy meetings by major central banks remained in the air. London’s market paused for the Crown holiday, keeping volatility at bay as investors awaited more direction from macro releases.
Before the opening bell, Germany’s March industrial production data surprised markets with a smaller drop than feared, followed by a modest month-over-month recovery. The year-over-year comparison also painted a brighter picture, signaling that the broader trend might be stabilizing after a difficult stretch for manufacturing and export sectors. Analysts noted that the resilience reflected a combination of domestic demand and export dynamics, even as global barriers and energy costs continued to influence outcomes.
In the Ibex 35 early session, several bank and energy stocks led the gains. CaixaBank, Bankinter, BBVA and Repsol showed positive moves, supported by renewed investor interest in their earnings prospects and strategic updates. Grifols also advanced after a leadership update within its organizational structure, with the executive team signaling a continuity plan designed to strengthen its core plasma products and global reach. The market welcomed the clarity, viewing it as a step toward steadier execution and long-term profitability.
Meanwhile, commodities markets reflected a cautious tilt as Brent crude rose close to the $76 level, signaling ongoing supply considerations amid geopolitical and demand-side factors. In the energy complex, benchmark prices demonstrated a familiar pattern of sensitivity to global cues, with traders parsing drills, inventory data, and policy signals that could shape pricing in the near term.
On the currency front, the euro traded around the mid-1.04s against the dollar, with market participants watching for any shifts in ECB commentary or rate guidance. The yield on the benchmark 10-year government bond hovered near notable levels, reflecting a blend of growth expectations and inflation risk that continues to frame European fixed-income allocations. The overall tone suggested a market looking for clarity on the policy path and the health of the real economy in the months ahead. Reuters continues to monitor developments as investors assess the potential implications for portfolios and regional growth.