The IBEX 35 stock index opened Monday with little change, as investors await the measures to be announced by Donald Trump after his inauguration and closely follow the corporate results season in the United States.

Trump will be sworn in as US president on Monday, ushering in a new four-year term with promises to push executive power to the limit, implement high trade tariffs, deport millions of immigrants, launch reprisals against his political enemies and transform America's role on the world stage.

The day will also be marked by the closure of Wall Street due to Martin Luther King Day, and in the coming days there will also be interest in the results of large U.S. companies such as Netflix, P&G and American Express, which could boost the IBEX, according to Bankinter analysts.

"US corporate results are gaining in intensity and their proven ability to beat expectations will maintain their ability to positively influence the stock markets," they point out on their Telegram channel.

Renta 4 highlighted the good performance of the companies that have presented their accounts: "So far, 9% of the S&P 500 companies have published their figures. 79% of these have exceeded EPS estimates".

The Spanish results season will begin on Thursday, when Bankinter kicks off.

On the macro front, traders will be waiting for the ZEW economic confidence survey for Germany to be released on Tuesday and the preliminary PMI surveys for January on Friday.

At 08:05 GMT on Monday, Spain's selective IBEX 35 stock market index was up 12.90 points, or 0.11%, to 11,929.20 points, while the FTSE Eurofirst 300 index of large European stocks was up 0.11%.

In the banking sector, BBVA gained 0.44%, Caixabank advanced 0.50%, Sabadell gained 0.90%, Bankinter gained 1.15%, and Unicaja Banco rose 0.15%.

Santander bank rose 0.82%, following reports that it is reconsidering its presence in the United Kingdom after two decades of presence.

Among the large non-financial stocks, Inditex advanced 0.12%, Iberdrola dropped 0.23%, Cellnex fell 0.22% and the oil company Repsol rose 0.04%.

Telefónica led the corrections, which fell 2.77%, after the board of directors of the telecommunications company replaced on Saturday its top executive, Mr. José María Álvarez-Pallete, with the chairman of the defense company Indra, Mr. Marc Murtra, following a request from the state fund SEPI.

Indra, in turn, was the stock which rose the most, with an increase of 2.33%, after reporting on Sunday the appointment of Mr. Ángel Escribano as the new Chairman, following Mr. Murtra's appointment by Telefónica.

(Information by Javi West Larrañaga; edition by Tomás Cobos)