After Friday's worst week since August, the Ibex-35 traded on Monday with a moderate rebound, although caution prevailed in the face of a week full of important references with the potential to decide the course of the Spanish stock market index.

On the menu for the coming days will be central bank meetings - with the Bank of Japan and, above all, the European Central Bank (ECB) as the main focus of attention -, important economic data and corporate earnings reports.

Uncertainty about when central banks will start cutting interest rates will remain at the forefront, and in this regard investors will be scrutinizing the ECB President's comments on Thursday, where they expect no change in interest rates.

"All attention will be on (Christine) Lagarde's speech, after she stated at the December meeting that the start of rate cuts had not been discussed, but last week acknowledged that the first cut could come in June, in line with our expectations, but cooling the optimism of a market that was betting on earlier cuts in time (April)," Renta 4 said in its daily report.

"We also recall that our expectations for cuts in 2024 are more cautious, with 4 downgrades (100 basis points, bp) compared to the 5 discounted by the market (125 bp)."

Also providing clues on the monetary outlook will be the macroeconomic indicators to be published, including the PMI surveys of the industrial sector (Wednesday), the IFO confidence indicator in Germany (Thursday), the US preliminary GDP for the fourth quarter (Thursday), and the US December core private consumption deflator (PCE) (Friday), one of the Fed's preferred inflation indicators.

As for the quarterly corporate figures, the most outstanding in the United States will be, among others, those of Procter and Gamble, Verizon, General Electric, Lockheed, Johnson and Johnson, 3M, Texas Instruments, Netflix (Tuesday), AT&T, Tesla (Wednesday), American Airlines, Visa (Thursday), Intel and Colgate (Friday), while in Spain those of Bankinter will be published on Thursday.

Against this backdrop, at 08:05 GMT on Monday, the selective Spanish stock market index Ibex-35 was up 83.50 points, or 0.85%, to 9,941.80 points, after losing 2.34% in the previous week. Meanwhile, the FTSE Eurofirst 300 index of large European stocks advanced 0.68%.

In the banking sector, Santander rose 1.35%, BBVA gained 1.08%, Caixabank advanced 1.15%, Sabadell gained 0.96%, Bankinter gained 0.78%, and Unicaja Banco rose 1.55%.

Among the large non-financial stocks, Telefónica gained 0.77%, Inditex advanced 0.67%, Iberdrola gained 0.36%, Cellnex gained 0.36%, and the oil company Repsol rose 0.35%.

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