The Spanish stock index Ibex-35 was heading for a third session of increases on the last day of a frenetic week, full of corporate results and central bank decisions, which has taken the Ibex-35 to more than 3-year highs.

The Bank of Japan was the last central bank of the world's largest economies to make a statement on the day. The bank left its ultra-low interest rates unchanged, although it did ease its approach to 10-year bond yields, a change that markets are calling a prelude to the end of its ultra-loose monetary policy.

Elsewhere on the macroeconomic front, markets are still digesting the message from European Central Bank President Christine Lagarde, who did not reject the possibility of a pause at the September meeting, although the decision remains at the mercy of upcoming readings on the state of the economy.

"In any case, we expect rates to remain at restrictive levels for an extended period in order to get inflation under control," Renta4 analysts wrote. "We do not see declines until at least mid-2024, and it would not be until at least 2025, the year in which the inflation target would foreseeably be reached, when it would be possible to return to neutral rate levels (2-2.5%)."

The other key player has been the flood of corporate results, which has pushed the Ibex-35 above 9,700, to its highest level since February 21, 2020, before the confinements due to the coronavirus pandemic in Europe. Thus, at 07:25 GMT on Friday, the selective Spanish stock market Ibex-35 was up 7.60 points, or 0.08%, to 9,702.30 points, while the FTSE Eurofirst 300 index of large European stocks was down 0.25%.

On Friday, among the companies that presented results, Caixabank, which advanced by 1.70%, and BBVA fell by 0.55%. Fluidra fell by 0.05% after cutting forecasts, Sacyr fell by 0.64%, and Cellnex rose by 4.35%.

In the banking sector, Santander lost 0.54%, Sabadell fell 1.34%, Bankinter gained 0.34%, and Unicaja Banco rose 1.96%.

Among the large non-financial stocks, Telefónica gained 0.05%, Inditex lost 0.55%, Iberdrola gained 0.04%, and the oil company Repsol rose 1.10%.

For the week as a whole, the Ibex-35 was up 1.4%. With two trading days left to close the month, including Friday, the Ibex is up 1.17%.

(Information by Tomás Cobos; edited by José Muñoz)