IBEX 35 
French assets have suffered in recent days amid concerns about the future of its government, which faces censure motions on Wednesday, with Prime Minister Michel Barnier's coalition likely to collapse.
However, investors in other markets have chosen to focus on speculation about the next steps of the U.S. Federal Reserve (Fed), which this week will receive several employment indicators that could determine its course.
Ahead of Friday's main course, the full November job creation report, Tuesday's job openings report showed a gradual slowdown in the labor market, and Wednesday's ADP private employment figure will be released.
Strong numbers in Friday's data could encourage the Fed to hold rates or at least put upcoming decisions on hold, also awaiting measures to be imposed from January by new U.S. President Donald Trump.
"(Tuesday's vacancy indicator) was a good data and should cool expectations about rate cuts by the Fed, but it seems that this cooling is already considered 100% discounted after Trump's victory," Bankinter analysts said on their Telegram channel.
"That allowed the stock markets to bounce again (on Tuesday), even if only millimetrically, thus proving, once again, that they bounce when there is no background noise," they added.
Markets now assign a 73% chance of a 25 basis point cut at the Fed's December meeting, with 82 basis point cuts expected by the end of next year.
In this regard, there will be particular interest in Fed Chairman Jerome Powell's comments on Wednesday in his final speech before the December 18 meeting.
In any case, Bankinter analysts point out that, "although Europe is weak today (...) due to the French political crisis, it is likely to return to insignificant positive in the afternoon because the tone of Wall St is better (futures +0.4%), where technology will cheer up a bit with the figures and 'guidances' (forecasts) of Salesforce and OKTA".
Against this backdrop, at 08:05 GMT on Wednesday, the selective Spanish stock market index IBEX 35 was up 65.80 points, or 0.55%, to 11,939.40 points, while the FTSE Eurofirst 300 index of large European stocks was up 0.19%.
In the banking sector, Santander rose 0.65%, BBVA gained 0.70%, Caixabank advanced 0.73%, Sabadell gained 0.91%, Bankinter gained 0.58%, and Unicaja Banco rose 0.47%.
Among the large non-financial stocks, Telefónica gained 0.02%, Inditex advanced 1.13%, Iberdrola gained 0.11%, Cellnex fell 0.21%, and the oil company Repsol rose 1.65%.
(Information by Tomás Cobos; edited by Javi West Larrañaga)
