The Ibex-35 opened Tuesday with no clear trend, in a market that awaits the incipient corporate results season with hope, but fears that the escalation of the conflict between Israel and Hamas will be a burden for the world's major economies.

After Monday's rally, the Spanish stock index "continues without major changes," says Diego Morín, market analyst at IG, "closing yesterday on the edge of 9,300 points and the very short-term downward guideline, so the consolidation of 9,280-9,385 points will be key to give continuity to the next resistance levels.

In this sense, Morin points out that "the results season could 'give' a boost to the selective if the forecasts launched at the end of the first half of the year are fulfilled".

The market did not lose sight of the price of crude oil, which fell slightly on Tuesday after a drop of more than one dollar on Monday, in the hope that the United States will ease sanctions on Venezuela, while fears of an international escalation of the war between Israel and Hamas continue.

Pending Thursday's statement by Jerome Powell, chairman of the Federal Reserve, the main macroeconomic references on Tuesday will be the ZEW survey indicator in Germany and the retail trade and industrial production figures in the United States.

At 0705 GMT on Tuesday, the Spanish selective stock market index Ibex-35 was down 4.80 points, or 0.05%, to 9,282.30 points, while the FTSE Eurofirst 300 index of large European stocks was down 0.12%.

In the banking sector, Santander lost 0.17%, BBVA fell 0.36%, Caixabank advanced 0.05%, Sabadell fell 0.09%, Bankinter gained 0.20%, and Unicaja Banco lost 0.20%.

Among the large non-financial stocks, Telefónica gained 0.31%, Inditex fell 0.20%, Iberdrola gained 0.19%, Cellnex fell 0.13%, and the oil company Repsol rose 0.23%.

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