The Ibex 35 closed the session with a decrease of 0.20%, settling at 13,323.3 points, with most of its values in the ‘red’, on a day where the preliminary PMI data for March was the main reference. The momentum from Wall Street was not enough to pull the indices of the ‘Old Continent’ into positive territory.
At the close of the European market, US indices rose by more than 1%: the Dow Jones increased by 1.17%; the S&P500 by 1.58%, and the Nasdaq surged by over 2%.
In contrast, European indices closed with slight declines: Paris fell by 0.26%; Frankfurt by 0.17%; Milan by 0.16%; and London by 0.10%.
Internationally, there is volatility in Turkey following the imprisonment of the mayor of Istanbul and candidate of the opposition Republican People’s Party (CHP) in the 2028 presidential elections, Ekrem Imamoglu. The Turkish capital market regulator has decided to ban short selling operations on the Istanbul Stock Exchange from Monday to ensure stability.
Additionally, analysts at Renta 4 suggest that there is an «expectation» that the tariffs planned by US President Donald Trump from April 2nd may not be as aggressive as anticipated.
The PMI data shows that private sector activity in the Eurozone increased in March for the third consecutive month. In the US, the index indicated that economic activity in the world’s leading power regained momentum in March due to a rebound in the services sector, offsetting the decline in manufacturing.
In corporate news outside the Ibex 35, Técnicas Reunidas and the Egyptian company Orascom Construction signed a contract worth over $2.6 billion (€2.398 billion) for the development of a combined cycle gas power plant in Saudi Arabia.
In this context, the biggest gains were seen by Fluidra (+1.71%), Unicaja (+1.64%), Indra (+1.37%), IAG (+1.29%), ArcelorMittal (+1.27%), and Santander (+0.96%). On the other hand, the most significant declines were recorded by Solaria (-3.40%), Acciona Energía (-2.67%), Acciona (-2.64%), Telefónica (-1.94%), Colonial (-1.73%), and Iberdrola and Amadeus (-1.21% each).
The price of Brent crude oil stood at $72.88, up by 1.00%, while West Texas Intermediate (WTI) advanced by 1.07% to $69.00.
In the debt market, the yield on Spanish 10-year bonds was at 3.399%, down from 3.407% at the close of Friday, resulting in a decrease in the risk premium to 61.5 basis points.
In the foreign exchange market, the euro depreciated by 0.26% against the dollar, reaching an exchange rate of 1.0791 dollars per euro.
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