The Spanish stock index Ibex-35 opened higher along with the European stock markets, which followed in the wake of Wall Street, awaiting this week's references with key macro data and central bank decisions in sight.

On Wednesday, the US CPI will be published, which could indicate the direction that the US Federal Reserve will take when it presents its guidance on its next moves next week.

On Thursday, the ECB rate decision will be released. Markets are bracing for a possible hike following recent comments from its policymakers, although the odds are still close to 50/50.

Meanwhile, European markets followed the upward trend in Asia, following favorable news on the real estate crisis in China with the extension of bondholders to Country Garden.

Adding to this were positive price developments in Europe, as British wage inflation did not accelerate in August from the previous month's record pace and German wholesale prices continued their downward trend in August.

Other macro data in Tuesday's session includes Spanish CPI, which rose 2.6% y/y in line with expectations, and the September ZEW index for Germany, due at 09:00 GMT.

In this context, at 07:05 GMT on Tuesday, the selective Spanish stock market index Ibex-35 was up 26.80 points, or 0.29%, to 9,462.10 points, while the FTSE Eurofirst 300 index of large European stocks was up 0.18%.

In the banking sector, Santander rose 0.29%, BBVA fell 0.06%, Caixabank advanced 0.31%, Sabadell gained 0.43%, Bankinter gained 0.14%, and Unicaja Banco rose 0.49%.

Among the large non-financial stocks, Telefónica gained 0.80%, Inditex advanced 0.56%, Iberdrola gained 0.37%, Cellnex gained 0.26%, and the oil company Repsol lost 0.90%.

(Report by Flora Gómez; edited by Tomás Cobos)