The Ibex 35 began the session with a modest retreat of 0.15 percent, dragging the index to 10,103.8 points. Investors are awaiting the results of a key U.S. Federal Reserve meeting, with a decision on interest rates expected after the market closes. The anticipation is shaping the tone of trading across major asset classes and regions.
The week remains focused on central bank policy signals, with important gatherings already on the calendar. Traders are eyeing the European Central Bank and the Bank of England as they prepare to communicate their latest assessments and policy stances. Currency and bond markets react to each new hint from these institutions, influencing risk appetite and equity flows.
In corporate news, Inditex disclosed a net profit of 4.102 billion euros for the first nine months of the 2023-2024 fiscal year, spanning February 1 to October 31. This figure surpassed year-ago results ahead of the Spanish stock exchange opening, underscoring strong demand in fashion retail and signaling improving margins as the period progresses.
At the session’s outset, the leaders among gains in the Ibex 35 included Grifols, up about 0.93 percent, followed by Amadeus with roughly 0.49 percent, Fluidra around 0.45 percent, and Acciona near 0.38 percent. These moves reflect a cautious but constructive tone as investors rotate into sectors showing resilience amid macro uncertainty.
Conversely, declines were most pronounced in Repsol, down about 0.89 percent, with BBVA slipping around 0.67 percent and Banco Santander easing roughly 0.48 percent as investors weigh energy and financials against global risk factors.
European stock markets opened on a positive note with gains across major centers. London and Milan led with increases around 0.16 percent, Frankfurt quoted up about 0.15 percent, and Paris up a modest 0.03 percent as trading begins across the continent. The regional mood remains cautiously optimistic as corporate earnings, supply chains, and central bank expectations interact in real time.
Meanwhile, crude oil prices showed a softening at the opening. Brent crude, the benchmark for European energy markets, fell roughly 0.57 percent to about 72.82 dollars per barrel, while West Texas Intermediate declined around 0.58 percent to near 68.21 dollars. The energy complex continues to reflect global demand concerns and geopolitical developments that can quickly alter sentiment.
In the currency market, the euro traded around 1.0787 dollars against the U.S. currency amid ongoing policy discourse. Spain’s sovereign risk premium hovered near 100.9 basis points, and the yield on the 10-year government bond stood near 3.219 percent as market participants reassess risk premia amid shifting macro indicators. These macro elements shape cross-border investment decisions and influence funding costs for banks and corporations across Europe and beyond.