On Friday, the Ibex 35 moved slightly lower to begin the session before finishing the week with a modest gain. The index dipped 0.16 percent in the opening minutes but recovered enough to climb to 9,321.16 points as investors weighed ongoing geopolitical tensions and key economic signals from Europe and the United States. Traders in Canada and the U.S. watching European equities reported a cautious tone as energy and transportation stocks fluctuated with market sentiment.
The Madrid stock market started above 9,300 as investors absorbed the latest Spanish Consumer Price Index data. Spain’s CPI for September rose 0.2 percent, nudging the year‑over‑year rate up to 3.5 percent, driven mainly by higher prices for fuel and lubricants used in electric and conventional vehicles. Food prices continued to rise as well, contributing to ongoing inflationary pressures. The move aligns with broader European inflation trends and has implications for monetary policy expectations in the region.
Market participants are also watching remarks by Christine Lagarde, president of the European Central Bank, during her appearance at the IMF’s Annual Meeting in Marrakesh. Her comments are expected to influence near‑term rate expectations and the euro’s direction against major currencies.
Looking ahead, the European macro calendar includes the eurozone industrial production release and France’s inflation data, with the week offering a full slate of economic indicators. In the corporate arena, several large American banks are scheduled to report earnings, adding another layer of depth to weekly trading decisions for North American investors.
In the early trading hours, some stocks stood out with notable gains. Repsol led gains among blue chips, up more than one percent, followed by Logista and Banco Sabadell with smaller advances. On the downside, Solaria showed the strongest decline, slipping more than one percent, while Iberdrola and Redeia traded lower or near flat. The price action highlighted the uneven rotation across sectors as investors gauge energy exposure and utility resilience amid shifting macro signals.
Across Europe, major stock exchanges displayed a mixed early rhythm. London edged higher while Milan, Frankfurt, and Paris pulled back slightly, underscoring divergent regional responses to inflation dynamics and central bank posture.
Oil prices moved higher in early trading, with Brent crude rising by about 1.36 percent to around $87.17 per barrel. U.S. benchmark WTI gained approximately 1.51 percent to roughly $84.16 per barrel, reflecting ongoing supply considerations and fluctuating demand expectations as the global economy absorbs mixed inflation signals.
In the foreign exchange arena, the euro hovered around the 1.0540 level against the dollar. The euro zone risk premium stood near 108.7 basis points, while the yield on the benchmark 10‑year government bond edged close to 3.88 percent, illustrating the ongoing tug between growth and borrowing costs across the region.