On Tuesday, the market saw the Ibex 35 start the session with a modest gain, advancing about 0.31 percent as traders entered a day crowded with earnings reports and macroeconomic indicators. The index briefly touched 9,400 points, after closing the previous session at 9,378, and then edged up to 9,407 as sentiment firmed in early trading.
Investors remain focused on the ongoing earnings season. In addition to domestic data, attention turns to a broad set of macro releases: unemployment figures from the United States, trade data from the United Kingdom and the euro area, and earnings from major U.S. banks including Bank of America, Goldman Sachs and Bank of New York Mellon. These releases are shaping expectations for growth, rate paths, and financial sector performance as markets calibrate risk and opportunity across asset classes.
Spain’s debt management authorities also drew interest, with expectations for the Spanish Public Treasury to auction between 1.5 and 2.5 billion euros across three- and nine-month maturities. Such auctions are watched closely for signals about liquidity conditions and funding costs that could influence government and broader market sentiment in the near term.
Earlier in the day, data showed a notable acceleration in China’s real economy. The Gross Domestic Product for the January–March period grew 2.2% year over year, a marked improvement from the prior quarter’s 0.6% pace. Market observers attribute this uptick in part to the easing of Covid-19 restrictions, which facilitated a rebound in activity and demand across sectors, even as external headwinds persist.
Turning to the opening of European stock markets, several blue chips led the gains in the Ibex 35: IAG rose about 1.89%, Banco de Sabadell increased 1.34%, BBVA climbed 1.09%, Santander added 1.06%, and Acerinox posted a 1.06% gain, with some other names showing smaller moves. On the downside, a few stocks traded in negative territory, including Mapfre down around 1.62%, Repsol off 1.14%, Acciona down 0.24%, and Logista easing 0.13%, reflecting sector-specific dynamics and market rotations that accompany a busy earnings week.
Across Europe, the broader market mood was positive at the start of trading. Milan advanced about 0.44%, Paris rose 0.33%, Frankfurt gained 0.31%, and London moved up roughly 0.26%, underscoring a cautious but constructive risk appetite as investors respond to earnings trends and macro signals from major economies.
Commodity markets also showed firmer tones. The Brent crude benchmark for Europe edged higher by about 0.45% to around 85.14 dollars per barrel, while U.S. WTI crude traded near 81.16 dollars, up about 0.41%. These movements reflect ongoing supply considerations and global demand expectations amid ongoing geopolitical and economic developments.
In the currency market, the euro stood at roughly 1.0949 against the U.S. dollar, illustrating persistent currency dynamics as investors weigh rate expectations and growth prospects across the euro area. Meanwhile, the yield on Spain’s benchmark 10-year government bond hovered near 3.58%, reflecting the country’s borrowing costs in a volatile but relatively stable debt market environment.