The Ibex 35 began trading on Monday, the first session of the week, with a 0.20% decline that pushed the benchmark index to around 10,284.7 points. It traded at levels not seen on the Spanish equity market since February 2018, signaling a cautious start to the week for investors.
The investment community remained attentive to Grifols, which reported its 2023 audited results on Friday, with KPMG issuing an unqualified opinion. The firm stated that the results from the plasma-derived products company accurately reflected the group’s assets and financial position in all material respects, reinforcing confidence in its earnings narrative despite broader market fluctuations.
In another notable development, ACS disclosed that its subsidiary Dragados Canadá secured a contract to build an elevated metro line in Vancouver. The project carries a total budget of 4.010 billion Canadian dollars (about 2.800 billion euros), highlighting continued cross-border infrastructure activity and the appeal of large-scale urban transport projects within North America.
Markets are also set to focus on Monday’s meeting among euro area economics ministers, who would discuss the direction of national budgets for 2025. The conversation is expected to shape near-term fiscal policy and influence investor sentiment across European equities, particularly those with significant exposure to public sector spending and energy markets.
During the early trading session, the biggest gains within the Ibex 35 were led by Grifols (+4.58%), Naturgy (+0.78%), Iberdrola (+0.41%), and Solaria (+0.34%). In contrast, the red lanterns included Mapfre (-1.65%), ArcelorMittal (-1.51%), and Banco Santander (-0.86%), illustrating a mixed bag of sector performances as investors reassess risk and value across the main indices.
Across Europe, the major stock exchanges opened lower, with declines of 0.68% in Milan, 0.63% in Frankfurt, 0.45% in Paris, and 0.43% in London, underscoring a broadly risk-off mood as market participants adjust to global growth signals and policy expectations.
In the commodities arena, Brent crude, a benchmark for Europe, slipped 0.15% to $81.96 per barrel, while Texas Light Sweet stood at $77.81, down 0.26%. The currency markets showed the euro trading near the 1.0943 level against the U.S. dollar, reflecting a relatively firm single currency amid ongoing policy debates and currency dynamics. On the debt side, the yield on Spain’s 10-year government bond rose to around 3.072%, signaling continued concerns about long-term borrowing costs in southern Europe.