Spain's main stock market index extended its bullish streak on Monday for the fifth consecutive session, touching new seven-month highs on optimism that easing prices in the United States and the reopening of China will help to weather a global recession.

However, while easing US CPI and de-escalation in China after two years of pandemic tightening keep global stock markets bullish in 2023, uncertainty about inflation and a possible recession persists, as recent warnings from monetary leaders about their vigilant approach to prices remind us.

Added to this are the results of several large US banks last week, which pointed to lower interest margins in an environment of falling credit and rising deposit rates.

In this regard, other large banks such as Morgan Stanley and Goldman Sachs will publish their results during the week, while in Spain, Bankinter will open the week on Thursday.

Thus, at 08:06 GMT on Monday, the selective Spanish stock market Ibex-35 was up 32.70 points, 0.37%, to 8,914.40 points, its highest level since the close on May 30, while the FTSE Eurofirst 300 index of large European stocks advanced 0.34%.

Of the eleven trading days so far in 2023, including Monday's, only one has shown a negative trend, with a minimal percentage (-0.07%).

However, it is likely that the session will be affected by a drop in activity due to the closure of Wall Street for a holiday.

In the banking sector, Santander lost 0.14%, BBVA gained 0.44%, Caixabank advanced 0.23%, Sabadell gained 0.55%, Bankinter gained 0.60% and Unicaja Banco lost 0.24%.

Among the large non-financial stocks, Telefónica gained 0.17%, Inditex advanced 0.36%, Iberdrola gained 0.28%, Cellnex gained 0.19%, and the oil company Repsol rose 0.97%.

(Information provided by Darío Fernández; edited by Tomás Cobos).