The mountain index edged down slightly on Wednesday, slipping about 0.1% before steadying around the 9,400 level as investors weighed macro data and quarterly results. The day saw little movement in the eurozone CPI readings, with attention turning to regional signals and earnings that could shape next steps for the market.
Earlier in the week, UK inflation figures showed a softer pace, with the annual rate easing to a level around 10.1% in March after 10.4% in February, underscoring a gradual shift in price pressures.
Spain prepares to kick off its corporate reporting season, with Bankinter set to release quarterly results while major U.S. disclosures from Tesla, American Express, Morgan Stanley, and IBM are expected today, forming part of a broader cross-border earnings landscape.
On the macro front, the Federal Reserve is slated to publish the Beige Book, offering a granular overview of economic conditions across the country. The report typically summarizes activity and sentiment across districts, helping markets gauge the trajectory of monetary policy.
After closing near 9,421.9 points the previous session, the Ibex 35 opened around 9,412. Leading gainers at the start included Banco de Sabadell up about 1.03%, Acciona Energía higher by 0.86%, CaixaBank up 0.64%, and Mapfre adding 0.32%. In contrast, Aena slipped around 0.39%, BBVA fell about 0.38%, and Solaria decreased roughly 0.33% at the opening.
Across Europe, trade began on a cautious note as major bourses opened with slight declines: London down about 0.35%, Frankfurt around 0.24% lower, Paris roughly 0.13% softer, and Milan showing a marginal retreat near 0.1%.
At the start of trading, the price of Brent crude, the European benchmark, traded lower, dipping about 0.6% to around $84.25 per barrel, while U.S. WTI slipped about 0.6% to near $80.39. In currency markets, the euro traded near 1.096 against the dollar, reflecting ongoing appetite for risk and shifts in cross-border trade dynamics.
In the debt market, the yield on the Spanish 10-year benchmark hovered around 3.545%, indicating a measured response to domestic funding conditions and global rate expectations. The interplays between energy prices, currency moves, and interest rates continued to shape the trading tone for the day, with investors balancing growth prospects against inflation risks and policy signals.