Spain's main stock index Ibex-35 was up at the open on Thursday as investors awaited the U.S. consumer inflation report due later in the day for more clues on the monetary policy stance.

The data, due at 1230 GMT, "could continue to moderate to levels not seen since 2021," according to analysts at Renta 4.

Markets' eyes were also on the minutes of the Fed's last meeting released on Thursday, which showed a cautious stance from monetary leaders, although they remained open to one more hike by the end of the year to ensure inflation returns to the 2% target.

The day, which is Spain's National Day, will also see the minutes of the European Central Bank's September 13-14 meeting (11:30 GMT) and weekly jobless claims data (1230 GMT).

At 0709 GMT on Thursday, Spain's selective stock market index Ibex-35 was up 49.60 points, or 0.53%, to 9,410.00 points, while the FTSE Eurofirst 300 index of large European stocks was up 0.57%.

In the banking sector, Santander rose 0.65%, BBVA gained 0.10%, Caixabank advanced 0.08%, Sabadell gained 0.54%, Bankinter dropped 0.07%, and Unicaja Banco rose 0.39%.

Among the large non-financial stocks, Telefónica gained 0.03%, Inditex advanced 0.38%, Iberdrola gained 0.75%, Cellnex gained 0.46%, and the oil company Repsol rose 1.10%.

(Report by Benjamín Mejías Valencia; edited by Flora Gómez)