The Ibex-35 opened Thursday with a slight advance and was poised to complete its best monthly performance in three years, in a market that harbors hopes of interest rate cuts in the United States in the first half of 2024.

The monetary outlook on both sides of the Atlantic could be corroborated or modified depending on price data due out in the eurozone (1000 GMT) and the United States (1330 GMT).

In both cases, inflation is expected to slow - from 4.2% to 3.9% in the eurozone's headline indicator and from 3.7% to 3.5% in the US core index - which could reinforce bets of debt cost downgrades.

Renta 4 also highlights the influence of the OPEC+ meeting on inflation and financial markets, "where we will see if Saudi Arabia is able to obtain support in the reduction of crude oil supply in order to stabilize prices".

"Saudi Arabia could extend its 1 mln b/d cuts beyond December, (although) there are members who are reluctant to cut their quotas," these analysts said.

At 0814 GMT on Thursday, Spain's selective Ibex-35 stock market index was up 15.20 points, or 0.15%, to 10,077.80 points, while the FTSE Eurofirst 300 index of large European stocks was up 0.13%.

For the month as a whole, the Ibex accumulated a rise of 11.78%, its best month since November 2020, when stock market optimism overflowed on the news of the successful trials of the COVID-19 vaccines.

In the banking sector, Santander rose 0.66%, BBVA gained 0.07%, Caixabank gave up 0.02%, Sabadell gained 0.04%, Bankinter gained 0.28% and Unicaja Banco rose 0.39%.

Among the large non-financial stocks, Telefónica gained 0.23%, Inditex gave up 0.11%, Iberdrola lost 0.22%, Cellnex gained 0.11%, and the oil company Repsol rose 0.71%.

Special attention was paid to Indra, which rose 0.14% after it was announced that JPMorgan has declared a 10.6% stake in the Spanish defense company.

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