The Spanish stock index Ibex-35 opted not to move at Friday's opening, remaining in the zone where it has been trading since the end of November, awaiting price figures in the United States that could provide clarity on the outlook for interest rates.

After a meteoric rally in November and early December, equities have stagnated in the last two months as hopes of a rapid change in the monetary cycle have cooled.

Thursday's European Central Bank (ECB) meeting did little to dispel doubts about when eurozone interest rates will start to be cut, so investors have quickly shifted their focus to the US core consumer deflator (known as the PCE), the Federal Reserve's preferred inflation index, which is released on Friday (1330 GMT).

Following Thursday's strong US economic growth data, a better-than-expected PCE (3.0% y/y) could push the horizon of a monetary cycle change further away, while a below-expected indicator could rekindle some buying enthusiasm in the stock markets.

In any case, movements are likely to be moderate, with investors on their guard for the corporate earnings season. Next week, the major Spanish banks will publish their quarterly reports, after Bankinter's figures disappointed on Thursday.

At 0805 GMT on Friday, Spain's selective Ibex-35 stock market index was up 7.80 points, or 0.08%, to 9,924.40 points, while the FTSE Eurofirst 300 index of large European stocks was up 0.44%.

In weekly terms, the Spanish index was up 0.67%.

Since the end of November, the Ibex-35 has moved between 9,850 and 10,260 points, and in recent sessions it has proved unable to regain the psychological support of 10,000 points.

In the banking sector, Santander rose 0.01%, BBVA gained 0.35%, Caixabank advanced 0.26%, Sabadell fell 0.61%, Bankinter dropped 0.45% and Unicaja Banco rose 0.12%.

Among the large non-financial stocks, Telefónica fell 0.45%, Inditex dropped 0.05%, Iberdrola gained 0.45%, Cellnex fell 0.74%, and the oil company Repsol rose 0.72%.

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