(Reuters) - The main Spanish selective Ibex-35 closed Wednesday with slight gains after two sessions in the red, in a day in which caution took hold of the markets in the absence of new incentives and with investors awaiting negotiations on the debt ceiling in the United States.

Concerns regarding high inflation and upcoming central bank maneuvers also did not dissipate, after the final reading of Eurozone inflation in April confirmed preliminary data, pointing to a slight acceleration in prices.

"It looks like the week will continue as before, confirming that consolidation phase that we will go through perhaps for some time, maybe even until the next Fed and ECB meetings, (scheduled for June 14 and 15 respectively), short of stimulus, albeit with downside risks," Bankinter analysts said in a note.

The lack of agreement to raise the US debt ceiling held back Wall Street at the open and continues to cast a shadow over market confidence on a global scale, while stock market traders are questioning the consequences of a possible default.

"A U.S. debt default would be a huge shock to the global financial system, likely leading to increased volatility, a weakening dollar, evaporating money market liquidity and a stock market crash," said Chris Iggo, president of the AXA IM Investment Institute.

Spain's selective Ibex-35 stock market closed up 14.70 points on Wednesday, up 0.16%, to 9,206.10 points, while the FTSE Eurofirst 300 index of large European stocks lost 0.15%.

In the banking sector, Santander rose 0.59%, BBVA gained 1.08%, Caixabank advanced 1.59%, Sabadell gained 1.84%, Bankinter gained 1.48%, and Unicaja Banco rose 0.92%.

Among the large non-financial stocks, Telefónica fell 0.66%, Inditex advanced 1.16%, Iberdrola dropped 1.56%, Cellnex gained 0.76% and the oil company Repsol rose 0.15%.

(Information by Matteo Allievi, edited by Flora Gómez)