IBEX 35 
According to the Reuters poll, analysts expect increases of 0.1% monthly and 3.1% year-on-year in the general index in June (compared to 0.0% and +3.3% in May, respectively), with increases of 0.2% monthly and 3.4% year-on-year in the underlying rate (the same as in May).
A lower-than-expected figure could strengthen the case for a rate cut at the end of the summer, while higher figures could dampen these hopes.
In this regard, Renta 4 highlights the comments made on Wednesday by the chairman of the US Federal Reserve before the House of Representatives, who "has 'some confidence' that inflation is receding, although he was also not entirely convinced that inflation is moving steadily towards the 2% target".
"The market, and the Fed, are therefore awaiting more positive inflation data. Currently, the Fed is not expected to cut rates at its next meeting on July 31 (95% probability) and rather the first rate cut is expected to happen at the September 18 meeting with a probability of more than 70%," these analysts said.
According to interest rate futures on LSEG's IRPR tool, the odds of monetary easing in September stood at 73.2% on Thursday, while markets are forecasting a total of 50 basis points of rate cuts this year, equivalent to two 25-point cuts.
Against this backdrop, at 0715 GMT on Thursday, Spain's selective IBEX 35 stock market index was down 3.40 points, or 0.03%, to 11,068.20 points, while the FTSE Eurofirst 300 index of large European stocks was up 0.22%.
In the banking sector, Santander lost 0.24%, BBVA gained 0.10%, Caixabank ceded 0.46%, Sabadell gained 0.19%, Bankinter lost 0.77%, and Unicaja Banco lost 0.46%.
Among the large non-financial stocks, Telefónica gained 0.58%, Inditex advanced 0.22%, Iberdrola dropped 0.17%, Cellnex gained 0.35%, and the oil company Repsol lost 3.00%.
(Information by Tomás Cobos; edited by Benjamín Mejías Valencia)
