The Ibex 35 started trading on Friday with a slight dip of 0.28%, pulling the benchmark index down to 11,242.5 points at 9:00 a.m. Investors were again turning their attention to the U.S. labor market as the day unfolded. Specifically, the August employment data from the United States were set to be released, data that could influence how the Federal Reserve shapes its monetary policy in the near term.
Looking at the broader macro picture, the Eurozone’s Gross Domestic Product would also be disclosed, along with France and Germany’s exports, imports, and trade balance, and Italy’s retail sales. These figures were expected to shed light on the health of the European economy and help gauge the trajectory of inflation, consumer demand, and activity levels across major economies in the region.
In Spain’s corporate landscape, Catalan cosmetics firm Puig reported a net attributed profit of 154 million euros for the first six months of the year, a figure that marked a 27% decline compared with the same period in 2024, according to information released on Friday. This result, while still robust, underscored pressures in consumer discretionary sectors amid tighter lending conditions and shifting consumer spending.
Meanwhile, the European Central Bank notified BBVA that it did not oppose the takeover of Banco Sabadell in connection with the public acquisition offer presented, following a report to the Comisión Nacional del Mercado de Valores (CNMV) after the close of European trading hours. The development clarified the regulatory stance surrounding a high-profile consolidation in the banking sector and had potential implications for capital markets and investor sentiment.
At the outset of Friday’s session, the largest gains within the Ibex 35 were registered by Colonial, up 3.32%, Fluidra up 1.5%, and Puig Brands up 1.28%, signaling mixed performance among growth-oriented names and consumer brands. By contrast, declines were led by IAG, down 1.34%, Grifols down 1.22%, BBVA down 0.7%, and Cellnex, with equities slipping about 0.7%. These movements highlighted the uneven tone across the market as investors weighed domestic earnings, macro releases, and cross-border economic signals.
European stock markets opened on a softer footing, with the main indices posting losses: Frankfurt down 0.51%, Milan down 0.47%, London down 0.31%, and Paris down 0.29%. The morning mood reflected a broad risk-off tilt, with traders digesting global growth indicators and central bank policy directions that could shape the path of equity valuations through the quarter.
In the commodity space, Brent crude, a key benchmark for Europe, rose 0.37% to about 72.96 dollars per barrel, while Texas Intermediate (WTI) advanced 0.39%, trading near 69.42 dollars. The move underscored ongoing supply-demand dynamics and geopolitical considerations that influence energy markets and inflation expectations across continents.
Currency markets showed the euro trading around 1.1119 dollars, illustrating the ongoing interplay between euro zone data and policy expectations. On the debt side, the yield on the 10-year government note stood at roughly 2.994%, a reflection of shifting risk premiums and investor appetite for government securities in a high-stakes macro environment.
These elements combined to paint a picture of cautious optimism tempered by caution. Market participants were parsing mixed earnings signals, potential regulatory shifts, and the evolving narrative around inflation, growth, and central bank policy, all of which would influence asset prices and portfolio strategies as the day progressed. [Source: Market reports and regulatory filings cited in financial briefings]