The Ibex-35 continued to lack a clear direction on Tuesday, awaiting important inflation figures this week and comments from central banks, as markets analyzed new quarterly reports from companies.

The backdrop continues to be the interest rate horizon, so no major movements are expected until the arrival of macroeconomic data or other signals that could provide clarity in this regard, such as the Fed's favorite inflation indicator to be released on Thursday.

Analysts expect the underlying price index of the personal consumption report (known as PCE) to rise 0.4% in January.

Also expected during the week are speeches by several U.S. Federal Reserve governors. Kansas City Fed Governor Jeffrey Schmid has been among the first to speak, aligning himself with other central bank leaders who want to avoid a precipitous rate cut.

"There is no need to preemptively tighten monetary policy (...) I think the best thing to do is to continue to watch how the economy responds to the tightening that has been implemented, and wait for convincing evidence that the war on inflation has been won," Schmid said.

Markets have pushed back their forecasts for the start of Fed rate cuts from May to June, according to CME's FedWatch tool.

Europe will also see the release of eurozone economic confidence indices on Wednesday and preliminary February CPI on Friday, where analysts expect a slowdown in the year-on-year figure to 2.9%, which could bring forward the timing of the European Central Bank's rate cuts.

In currencies, the bitcoin cryptocurrency was hitting two-year highs above $57,000, boosted by the announcement of a purchase of 3,000 more tokens by MicroStrategy.

As it was, at 08:15 GMT on Tuesday, Spain's selective Ibex-35 stock market index was down 26.60 points, or 0.26%, to 10,111.80 points, while the FTSE Eurofirst 300 index of large European stocks was up 0.09%.

Among the stocks that published results, the energy company Naturgy fell 0.71% after announcing a 20% increase in its net profits, although it did not give forecasts for this year, blaming it on the volatility of the energy markets.

The pharmaceutical company Rovi fell 4.06% after announcing figures which were broadly in line with expectations. Stock market operators pointed to profit taking after experiencing a rise of almost 50% since the beginning of November.

Elsewhere, the banking sector saw Santander up 0.03%, BBVA up 0.21%, Caixabank down 0.10%, Sabadell up 0.58%, Bankinter up 0.2%, and Unicaja Banco down 0.46%.

Among the large non-financial stocks, Telefónica fell 0.05%, Inditex dropped 0.70%, Iberdrola lost 0.33%, Cellnex fell 0.44%, and the oil company Repsol rose 0.75%.

(Information by José Muñoz; edited by Tomás Cobos)