Spanish stocks opened with a modest dip as the Ibex 35 slipped 0.16% in early trading, putting the index around 13,123.5 points by 9:00 local time. Traders focused on signals from the United States about possible new tariffs on a broad range of imports. Policy moves announced under President Donald Trump created a cautious mood in European equities, as investors weighed potential effects on supply chains, consumer prices, and corporate earnings. Although the early move on the Ibex was modest, the session carried the jittery energy common to policy-driven sessions, with traders scanning headlines for hints about timing and scope that could affect sectors differently. Market watchers warned that even small changes in the tariff story can ripple through industrials, materials, and technology shares listed on Madrid’s exchange, particularly those with foreign exposure. (Reuters)
Earlier in the year, the U.S. administration indicated it would impose tariffs in April on autos, semiconductors, and selected pharmaceutical products at an initial level near 25%. Officials signaled these rates could rise after one year from their start. Analysts cautioned that such moves could reshape trade flows, prompt rearrangements in supplier networks, and add pressure on inflation. European producers, exporters, and consumers could see higher prices or tighter margins depending on how far costs could be passed along. Investors looked for exemptions or carve-outs and waited for details on enforcement, affected countries, and relief measures. (Reuters)
Against this macro backdrop, Spain’s Instituto Nacional de Estadística reported a strong rise in mortgages secured for housing in 2024, climbing 11.2% and marking the largest yearly gain since 2021, totaling 423,761 loans. Analysts saw this as a sign that borrowing conditions remained favorable for homebuyers, supported by competitive mortgage offers and continued demand for housing. The increase pointed to a durable expansion in domestic credit, with potential implications for household consumption and broader economic momentum in Spain. (INE)
In early trading, certain heavyweight stocks supported the Ibex while others declined. Solaria rose about 1.22%, reflecting continued appetite for solar energy plays and broader enthusiasm for renewables amid incentives and capacity expansions. Acerinox added roughly 0.81%, a sign of steady steel product demand amid ongoing manufacturing activity in Europe. On the downside, Banco Santander fell around 1.41%, and ArcelorMittal slipped about 0.43%, signaling profit-taking in financials and steel-linked assets as investors weighed banking sector risks and raw material costs against policy developments. (Reuters)
Across Europe, major stock indices opened with a mixed tone. Paris declined about 0.05%, while Milan rose around 0.63%, Frankfurt about 0.06%, and London about 0.03% in early trade. Traders cited caution ahead of key data releases and ongoing tariff discussions, balancing domestic earnings trajectories against global policy uncertainty. Sector composition varied by market, with export-oriented shares tracking demand abroad, energy names reacting to crude price shifts, and financials adjusting to rate expectations. The session underscored a wait-and-see mood as investors await clearer guidance from policymakers and corporate earnings. (Reuters)
Oil prices moved higher in early trading, with Brent crude quoted around 76.27 dollars per barrel, up about 0.57%, while U.S. West Texas Intermediate hovered near 72.25 dollars, up roughly 0.58%. Traders weighed supply dynamics from production decisions, geopolitical risks, and ongoing demand signals from global manufacturing and travel. The Brent-WTI spread remained a consideration for refiners and exporters, shaping hedging strategies and capital expenditure plans across energy-intensive sectors. Market participants also watched how tariff policy and currency moves could affect energy costs for households and businesses in Europe and North America. (Reuters)
In currency markets, the euro traded near 1.0450 dollars, reflecting a modest soften against the greenback as markets absorbed tariff headlines and domestic inflation data. In the debt arena, the yield on the benchmark 10-year government bond hovered around 3.16%, signaling investors’ appetite for duration amid growth uncertainties and policy expectations. Yields could shift with incoming macro numbers, central bank commentary, and the path of future rate moves. The day’s mood remained cautious, with participants seeking clarity on how tariff policy, credit conditions, and energy markets would shape corporate profitability and investment plans in the near term. (Reuters)