Ibex 35 Pushes Past 15,000 Toward Record High

Spain’s IBEX 35 has traded above 15,000 since 13 August, breaching a psychological threshold last surpassed in December 2007.

In early trading today, the benchmark stood at 15.226 points, just 4.51% below its all-time high of 15,945, set in 2007. That puts the index within reach of 18-year highs last seen before the global financial crisis.

The gauge’s cautious advance comes as traders await signals from this week’s Jackson Hole symposium, where Fed Chair Jerome Powell may set the policy tone. Efforts to end the war in Ukraine have yet to sway markets, keeping investors in a wait-and-see mode.

TL;DR

• IBEX 35 trades at 15,226, above 15,000 for the first time since 2007

• Index sits 4.51% below the record high of 15,945 set in 2007

• IBEX gains 9.2% in 30 days, outperforming EU peers

• Banks drive one-month rally, with BBVA up 28.13%

IBEX 35 Beats European Benchmarks Over Last Month

The recent rally in Spain’s IBEX 35 is broadly in line with other major European benchmarks. Over the past five days, the IBEX 35 has gained 1.70%, compared with a 2.31% rise in Italy’s FTSE MIB, a 1.83% advance in France’s CAC 40, and a 0.34% gain in Germany’s DAX. The Euro Stoxx 50 is up 1.38% over the same five-day period.

On a one-month view, however, Spain’s benchmark has strongly outperformed. The IBEX 35 has surged 9.2% in the past 30 days, far ahead of its peers. In that span, the FTSE MIB rose 6.43%, the CAC 40 added just 1.60%, while the DAX slipped 0.09%.

The Euro Stoxx 50, the broader continental gauge, is up 1.93% over the past 30 days. (Source: Finance Yahoo)

Spanish Banks Drive IBEX 35 Rally: BBVA Leads with 28% Gains

At the open today, the IBEX 35 was led higher by Endesa [ELE.E] (+0.76%), Iberdrola [IBE.E] (+0.61%), and Naturgy [NTGY.E] (+0.52%).  (Source: ElEconomista)

Over the past 30 days, banks have powered the Spanish benchmark, with BBVA [BBVA.E] up 28.13%, Bankinter [BKT.E] 15.00%, and Santander [SAN.E] 12.70%.

Outside of the financial sector, standouts over the last month include Telefónica [TEF.E], which is up 8.38% over the past month, and airport operator Aena [AENA.E], which has advanced 9.99%.

Conclusion

The IBEX 35 remains above 15,000, leaving it within striking distance of its 2007 record high. 

Whether the index can sustain momentum will hinge on signals from Jackson Hole and broader macro conditions. 

For now, strong bank gains and resilient utilities keep investor focus on whether Spain’s benchmark can set new highs.

*Past performance does not reflect future results.The above are only projections and should not be taken as a trading advice.