Ibex 35 rallies toward 21,000 points as Spanish market gains momentum

The Ibex 35 posted one of its strongest weeks of the year, closing Friday near 19,420 points, a 3.5% weekly gain. Technical analysis highlights a breakout above the 18,573‑point resistance, increased volume and bullish MACD signals, suggesting a potential upside of up to 9% and a theoretical target around 21,000 points.

The market opened Friday slightly lower, down 0.17% to 19,371 points, as traders priced in Middle‑East tensions and rising oil prices. Brent hovered near $80 per barrel and WTI around $78. Domestic data showed a 1.8% drop in housing sales for April. CaixaBank reported a 20.3% execution of its €500 million share‑buyback program. Sectoral moves were mixed, with Acciona Energía and Repsol leading gains, while IAG and ArcelorMittal fell.