Markets open with modest gains as investors eye ECB, inflation data
The IBEX 35 began the trading session with a 0.62% gain, nudging the index to around 8,779 points. This comes ahead of a week slated for important events, including the General Assembly and key inflation readings from the European Central Bank and the United States, both due for release on Friday.
Meanwhile, Inditex is set to publish its first fiscal quarter results on Wednesday, with Marta Ortega serving as chair of the company.
Earlier in the session, the Madrid market was trading with a focus on the 8,800 level, a psychological benchmark, and most equities were in positive territory. The market had closed last week down 2.33%, but sentiment was constructive at the outset of Monday as traders looked for momentum to carry through the day.
Among the movers, Acerinox led gains with a 2.46% rise, followed by Amadeus at 1.63%, Santander at 1.44%, BBVA up 1.41%, Sabadell with a 1.37% advance, and Cie Automotive adding 1.35%. On the downside, Acciona fell 0.85%, Indra declined 0.66%, IAG slipped 0.60%, and Telefónica dipped 0.29% in early trade.
Across the rest of Europe, the major markets showed cautious strength with Frankfurt up 0.94%, London up 1.1%, and Paris higher by 0.87% in early trading. The energy complex provided some support as Brent crude, used as the European reference, rose 0.25% to around $120 per barrel, while U.S. crude, WTI, advanced about 0.29% to roughly $119 per barrel.
In foreign exchange, the euro traded at about 1.0728 dollars, reflecting a stable but important level as traders weigh the upcoming data and policy signals.
Market participants will be parsing the ECB and U.S. inflation data for clues on monetary policy trajectories and domestic growth momentum. Analysts expect the readings to influence near-term volatility but also offer glimpses into longer-term inflation dynamics and central bank responses, which could shape sector rotations and stock-specific moves through the week. Investors are also watching corporate earnings calendars for additional color on consumer demand and global supply conditions, with attention to how exporters and domestically oriented banks perform amid evolving macro signals. The general theme centers on balancing growth prospects with price pressures as recommendations for portfolios are refined to reflect new data, evolving policy expectations, and regional economic factors. [Source attribution: Market briefing and economic notes]