IBEX 35 opened this trading session on Tuesday with a slight dip of 0.23%, leaving the index at 8,066 points as of 9:01 a.m. The broadcast highlighted Spain’s unemployment figures and labor market data, setting the macro backdrop for the day from the outset.
In July, the number of registered unemployed people at public employment services offices (formerly INEM) increased by 3,230. The total reached 2,883,812, still below the 2.9 million mark, but up 0.1% from June as the economy processes a new cycle of labor market dynamics and seasonal adjustments.
On the social security front, July proved tougher for the system. The aggregate count of affiliates fell by 7,366, a slide that ministry officials described as the worst in ten years. The month ended with a 0.04% decrease from the performance observed in June, signaling a cooling in job creation momentum amid broader economic headwinds.
As models closed the prior session with a modest 0.8% retreat, Madrid’s stock list opened the day with a broadive negative tilt led by IAG and several connected sectors. The index hovered below the 8,000 level—an important psychological barrier—with a number of heavyweights moving in the red. Fluidra, ArcelorMittal, Acerinox, and Meliá Hotels all traded lower, underscoring concerns over demand, cost pressures, and currency effects that can ripple through tourism, manufacturing, and infrastructure sectors. The overall mood reflected a cautious stance among investors as markets weighed earnings signals and macro indicators against geopolitical and energy price fluctuations.
Across Europe, leads looked softer at the open. The main continental markets posted declines: Frankfurt’s DAX was down about 0.53%, Paris slipped roughly 0.18%, and London traded around 0.15% lower, reflecting a synchronized but slightly uneven reaction to the latest data prints and global risk factors.
Oil prices followed the trend of the broader risk-off environment. Brent crude, a global benchmark for European buyers, declined about 0.52% to near $99 per barrel. In contrast, West Texas Intermediate traded a touch softer, retreating around 0.2% to the mid-$90s, as supply expectations, demand signals, and currency movements continued to interact in the energy markets.
Meanwhile, the euro traded near the mid-$1.02 range against the U.S. dollar, with the exchange rate anchoring market expectations for import costs, inflation outcomes, and the future path of monetary policy in the euro area. The risk premium stood around 106 basis points, and the yield on Spain’s 10-year government bond hovered near 1.78%, providing a snapshot of sovereign borrowing costs amid the broader European rate environment and investor demand for safe assets in a fluctuating climate.