The Ibex-35 rose slightly on Thursday, extending a bullish streak that has taken it to its highest levels in more than six years, although the advance was limited by fears of further signs of persistence in U.S. inflation.

During the session, the U.S. producer price index, known as PPI, will be released, which has a delayed impact on consumer inflation and therefore may influence the decisions of the U.S. Federal Reserve (Fed).

"(PPI) could accelerate in headline rate and stabilize in core rate, showing that the downward trend in producer prices may have bottomed out and adding fuel to the fire for a more hawkish Fed turn following the worse-than-expected CPI," said analysts at Renta 4 in a daily report.

In recent days, enthusiasm about early interest rate cuts has again been deflated following a consumer price index (CPI) in the United States that exceeded the figures expected by the market.

At the same time as the price data (12:30 GMT), US retail sales will be released, which could point to a "better tone of private consumption, which accounts for about 2/3 of US GDP", according to Renta 4.

After rising 1.65% the day before with the help of Inditex, at 08:05 GMT on Thursday the selective Spanish stock market Ibex-35 was up 12.90 points, 0.12%, to 10,573.40 points, its highest level since the end of January 2018, while the FTSE Eurofirst 300 index of large European stocks advanced 0.17%.

In the banking sector, Santander lost 0.39%, BBVA scored 0.10%, Caixabank traded flat, Sabadell fell 0.52%, Bankinter appreciated 0.06% and Unicaja Banco lost 0.20%.

Among the large non-financial stocks, Telefónica gained 0.49%, Inditex advanced 0.16%, Iberdrola gained 0.32%, Cellnex fell 0.30%, and the oil company Repsol rose 0.73%.

(Information by Tomás Cobos; edited by Javi West Larrañaga)