The Spanish stock index IBEX 35 opened Monday in positive territory, reaching 11,200 points, its best level since August 2015, in a week loaded with corporate results and ahead of Wednesday's Fed meeting, where the central bank is expected to keep its interest rate intact.

Markets were still digesting the yen's unusual rise on Monday, which soared nearly 2% after touching the 160 yen per dollar level, its lowest level in 34 years, leading market players to speculate that Tokyo might be intervening in the currency market while it was a holiday in the country.

The yen's movement pushed the euro higher, but it remained close to the range reached during Friday's volatile session.

During the day, several relevant macroeconomic data will be published, such as the preliminary April inflation data for Spain and Germany, as well as the April economic confidence index for the Eurozone.

Following the release of persistent inflation data in the US and comments from several Fed policymakers warning that there is no urgency for cuts, the Fed is expected to keep its benchmark interest rate at 5.25%-5.5% at its May 1 meeting.

According to CME's FedWatch tool, investors expect only one cut this year, in November.

At 0710 GMT on Monday, Spain's selective IBEX 35 stock index was up 55.10 points, or 0.49%, to 11,209.70 points, while the FTSE Eurofirst 300 index of large European stocks was up 0.34%.

In the banking sector, Santander rose 0.22%, Caixabank advanced 1.72%, Sabadell gained 1.83%, and Bankinter gained 1.23%.

BBVA gained 1.68% after announcing that its first-quarter profit rose 15.7%, and Unicaja soared 7.20% after announcing that its first-quarter net profit more than tripled compared to the same period in 2023.

Among the large non-financial stocks, Telefónica gained 0.24%, Inditex gave up 0.86%, Iberdrola gained 0.60%, Cellnex gained 0.03%, and the oil company Repsol rose 0.07%.

(Information by Javi West Larrañaga; edited by Benjamín Mejías Valencia)