The Ibex-35 rebounded on Friday supported by bargain hunting and the positive reception to the figures of the US technology company Amazon, after a negative streak that has led the Spanish stock index to lose more than 300 points in seven sessions.

The focus of the day is on the inflation indicator to be released in the United States (1230 GMT) - the core rate (PCE) included in the monthly consumer report - as well as in the Middle East, where fears persist of a widening of the war between Israel and Hamas.

In this regard, optimism was not helped by the news that two US fighter jets struck weapons and ammunition facilities in Syria on Friday in retaliation for attacks on US forces by Iranian-backed militias.

However, investors chose to focus on news from Amazon, which expects an increase in sales for the holiday season and a stabilization of its cloud business, as well as the improvement seen in the bond market on signs of moderation in the United States, although this perception could be altered depending on the PCE index to be published on Friday.

Likewise, there was still some optimism after the ECB meeting the day before, "as the risk of a more hawkish tone (in favor of monetary tightening) regarding the ECB balance sheet (the reinvestment of the PEPP is maintained until the end of 2024) and higher minimum reserves of banks did not materialize", according to the securities firm Renta 4.

In Spain, the results of Caixabank, which fell 0.3% on the stock market, and the insurer Mapfre, which traded practically flat, were released.

Overall, the selective Spanish stock market index Ibex-35 was up 15.70 points, or 0.18%, to 8,978.50 points at 0715 GMT on Friday, without managing to consolidate above the 9,000-point barrier, while the FTSE Eurofirst 300 index of large European stocks was down 0.19%.

In the rest of the banking sector, Santander rose 0.50%, BBVA gained 0.94%, Sabadell gained 2.04%, Bankinter gained 0.79% and Unicaja Banco rose 0.69%.

Among the large non-financial stocks, Telefónica gained 0.59%, Inditex dropped 0.60%, Iberdrola gained 0.05%, Cellnex gained 0.50%, and the oil company Repsol rose 0.81%.

(Report by Tomás Cobos; edited by Benjamín Mejías Valencia)