The Spanish stock index Ibex-35 opened higher on Friday, following declines in technology stocks on Wall Street and awaiting next week's meetings of the main central banks.

A series of adverse inflation reports in the US has led traders to lower their expectations, with markets now pricing in a 60% chance of a Fed rate cut in June, down from 74% a week earlier, according to CME's FedWatch tool.

At 08:23 GMT on Friday, the Spanish Ibex-35 was up 41.80 points, or 0.40%, to 10,532.30 points, while the FTSE Eurofirst 300 index of large European stocks was down 0.09%.

In weekly terms, the index was on track for a rise of 1.95%.

In the banking sector, Santander rose 0.09%, BBVA gained 1.47%, Caixabank advanced 0.36%, Sabadell gained 0.82%, Bankinter gained 1.37%, and Unicaja Banco rose 1.39%.

Among the large non-financial stocks, Telefónica gained 0.96%, Inditex advanced 0.18%, Iberdrola gained 0.69%, Cellnex fell 0.06%, and the oil company Repsol rose 0.13%.

(Information by Javi West Larrañaga; edited by Mireia Merino)