The Spanish stock index Ibex-35 closed its fifth consecutive week in positive territory, as investors digested the latest economic data from both Europe and the United States, before entering the heart of the corporate results season in Spain.

In a session marked by caution among stock market traders, the Spanish trading floor performed slightly worse than its European counterparts, weighed down by a banking sector weighed down by profit-taking.

"Although a more optimistic tone prevails in Europe, in general the stock markets are still unable to establish a clear direction. After bouncing off the March lows, there is a cautious sentiment about the way forward," said Chris Beauchamp, analyst at IG, in a note.

Caught between fears of a deteriorating economic cycle and high core inflation, the market turned its attention on Friday to April's composite purchasing managers' indices (PMI), released on both sides of the Atlantic, which surprised on the upside, exceeding the expectations of analysts polled by Reuters.

However, the Old Continent's PMIs left a bittersweet taste, noted Javier Molina, an analyst at eToro, given the gap between the robustness of the services sector and the weakness of the manufacturing sector, a sign that the European economy remains vulnerable to divergent currents.

"Consumer spending still remains strong, which could prompt the ECB to keep raising rates for a while, but also the state of health of manufacturing activity could be a concern in the medium term," he added.

Against this backdrop, Spain's selective Ibex-35 stock market closed down 35.30 points on Friday, down 0.37%, to 9,415.60 points. Despite the daily decline, for the week as a whole the Ibex-35 is up 0.56%.

For its part, the FTSE Eurofirst 300 index of large European stocks rose by 0.29%.

Within the Ibex 35, ArcelorMittal (-3.7%) and Acerinox (-1.9%) were among the most heavily penalized stocks following the April manufacturing slump, in a context of alert due to the economic slowdown, which fuels distrust among investors in industrial stocks, which are more exposed to macro cycles.

In the banking sector, Santander lost 1.03%, BBVA fell 0.47%, Caixabank dropped 1.76%, Sabadell fell 0.71%, Bankinter lost 2.57% and Unicaja Banco lost 1.17%.

Among the large non-financial stocks, Telefónica fell 0.49%, Inditex advanced 0.45%, Iberdrola gained 0.08%, Cellnex fell 0.63%, and the oil company Repsol rose 0.23%.

(Information by Matteo Allievi; edited by Tomás Cobos)