The Spanish stock market index Ibex-35 opened Thursday lower, continuing the trend of the previous day, on a day marked by new references that could give clues about the trend of interest rates in the Eurozone.

At 10:00 GMT, the eurozone's consumer price index for February will be released, following data that have shown an acceleration of inflation in Spain, France and Germany.

"The market is discounting moderation in Eurozone headline inflation (8.3%e vs 8.6%) and core to remain at highs of 5.3%. Any reading above these figures will generate more nervousness in a market that continues to raise the arrival level of the deposit rate, already at 4.15% at the beginning of 2024," said analysts at Renta 4 in their daily report.

Subsequently, the minutes of the last meeting of the European Central Bank (ECB) will be known, at a time when investors are beginning to assimilate the prospect of higher and longer interest rates in the major Western economies.

"Beyond the +50 bp (basis points) hike already announced for March, the key is what the pace of subsequent hikes will be and the final arrival level," Renta 4 said of possible developments in the ECB minutes.

Elsewhere, after the end of the corporate earnings season, attention will return to geopolitical tensions between Russia and the West over the war in Ukraine, as well as the growing rift between Washington and Beijing.

At 08:02 GMT on Thursday, Spain's selective Ibex-35 stock market index was down 56.30 points, or 0.60%, at 9,266.60 points, while the FTSE Eurofirst 300 index of large European stocks was down 0.52%.

In the banking sector, Santander lost 0.72%, BBVA fell 0.39%, Caixabank gave up 0.30%, Sabadell fell 0.32%, Bankinter dropped 0.03% and Unicaja Banco lost 0.51%.

Among the large non-financial stocks, Telefónica fell 0.31%, Inditex dropped 0.97%, Iberdrola dropped 0.42%, Cellnex fell 1.92%, and the oil company Repsol rose 0.07%.

(Information by Tomás Cobos, edited by Flora Gómez)