The Spanish stock index Ibex-35 opened Monday in positive territory in a day with less trading than usual, but with an eye on the U.S. inflation indicator at a time of growing geopolitical and structural risks.

Asian markets, which include heavyweights such as China and Japan, are currently closed for the Lunar New Year and National Foundation Day holidays, respectively, which has reduced global trading.

However, investors' attention is on the consumer price index (CPI) to be released this Tuesday, "where moderation is expected in both headline (2.9%e yoy vs. 3.4% yoy previously) and core (3.7%e yoy vs. 3.9% yoy previously) rates," wrote analysts at Renta 4.

The data will be crucial in the decision making of monetary policy makers at the US Federal Reserve, where many, including Chairman Jerome Powell, have opted for a cautious rhetoric, refusing to announce possible rate cuts until they have proof that inflation is coming down.

Thus, at 0809 GMT on Monday, Spain's selective Ibex-35 stock market index was up 46.50 points, or 0.47%, to 9,943.10 points, while the FTSE Eurofirst 300 index of large European stocks was up 0.27%.

In the banking sector, Santander rose 0.73%, BBVA gained 0.15%, Caixabank advanced 0.46%, Sabadell gained 0.85%, Bankinter gained 1.54%, and Unicaja Banco rose 4.27%.

Among the large non-financial stocks, Telefónica gained 0.48%, Inditex advanced 0.20%, Iberdrola gained 0.37%, Cellnex gained 0.73%, and the oil company Repsol rose 0.15%.

Outside the lbex, the train manufacturer Talgo stood out, which was trading with a fall of 4.60%, after the Spanish National Securities Market Commission (CNMV) reinstated its listing after suspending it last Thursday until the company reported on the offer of a Hungarian company for its shares.

(Information by José Muñoz; edited by Benjamín Mejías Valencia)