Ibex 35 nears 20,000 points as weekly loss deepens amid Middle East tension

The Spanish Ibex 35 index fell 2.35% over the week, closing at 19,384.7 points, marking its worst two‑month weekly performance. Analysts note that the key technical resistance sits at 19,879 points; a break above this level could open the path to the psychologically significant 20,000‑point mark. The index’s recent consolidation, despite a 0.8% drop to 19,540 points earlier, reflects continued buying demand, aided by low euro‑zone interest rates and a contained risk premium.

Geopolitical developments in the Middle East have pressured markets. U.S. strikes on Iran and Iran’s retaliatory missile and drone attacks have raised uncertainty, contributing to a 0.8% decline in Brent crude and a 1.2% drop in WTI. Market participants remain cautiously optimistic that the upcoming second‑quarter earnings season will provide fresh impetus for the Ibex. Analysts such as José Antonio González and Sebastian Paris Horvitz stress that while the index’s momentum remains bullish, a failed test of the 19,879 resistance could trigger a rapid correction toward 18,764 points.