IBEX 35 
Markets continue to digest Monday's disappointing Chinese data that has pushed Asian stocks lower, awaiting promised fiscal stimulus from the Chinese central bank to shore up an economy that is losing steam after the end of its post-pandemic economic boom.
One of the day's focal points will be the macroeconomic data coming out of the US, which will serve to measure the state of health of the economy and confirm whether inflation continues to cool, now that the effects of previous rate hikes have begun to seep through.
The markets continue to bet heavily on another hike in July and already envisage a cut in December.
On Tuesday, industrial production and retail sales for June and the NAHB housing market index for July will be released, which "could continue to show a resilient cycle," according to experts at analyst house Renta 4.
On the other hand, the presentation of North American results continues, "where 2Q23 could be the profit floor", according to Renta 4. It is the turn of Bank of America, Morgan Stanley and Bank of New York, "which could show a good tone in terms of net interest income (like those presented last Friday), but with a cautious discourse for the future".
On the geopolitical front, Russia abandoned the Black Sea grain export agreement on Monday, which has sparked fears of upward and inflationary effects on global food prices.
Thus, at 07:15 GMT on Tuesday, the Spanish selective stock market index Ibex-35 fell 3.80 points, or 0.04%, to 9,434.20 points, while the FTSE Eurofirst 300 index of large European stocks advanced 0.04%.
In the banking sector, Santander rose 0.10%, BBVA gained 0.48%, Caixabank advanced 0.21%, Sabadell gained 0.22%, Bankinter gained 0.43%, and Unicaja Banco rose 0.36%.
Among the large non-financial stocks, Telefónica fell 1.12%, Inditex dropped 0.20%, Iberdrola lost 0.04%, Cellnex fell 0.30%, and the oil company Repsol lost 0.51%.
(Information by José Muñoz, edited by Flora Gómez)
