The IBEX 35 opened little changed on Thursday, as the positive reception to Nvidia's results was offset by the harsh tone of the Fed minutes.

The U.S. microprocessor manufacturer experienced a remarkable stock market rally after reporting earnings above estimates and announcing a stock split, extending its year-to-date rally of more than 90% on the back of the artificial intelligence frenzy.

However, the backdrop of concerns about higher interest rates for longer than expected continued to hold back equities, especially after the minutes of the April 30-May 1 Federal Reserve (Fed) meeting were released.

The US central bank not only underpinned the notion that rates will not be lowered in the near term, but that some policymakers are considering a hike, prompting market participants to reduce their bets on the pace of cuts.

At 07:17 GMT on Thursday, Spain's selective IBEX 35 stock index was up 10.50 points, 0.09%, to 11,339.50 points, while the FTSE Eurofirst 300 index of large European stocks was up 0.30%.

In the banking sector, Santander rose 0.36%, BBVA gained 0.65%, Caixabank advanced 0.51%, Sabadell gained 0.03%, Bankinter gained 0.46%, and Unicaja Banco rose 0.82%.

Among the large non-financial stocks, Telefónica fell 0.21%, Inditex advanced 0.28%, Iberdrola dropped 0.73%, Cellnex fell 0.49%, and the oil company Repsol rose 0.34%.

(Information by Javi West Larrañaga, edited by Tomás Cobos).