Spain's Ibex 35 climbs 0.48% as market recovers, Iberdrola highlighted by analysts

The Spanish Ibex 35 closed at 18,272 points, up 0.48% (about 87 points), moving back above the psychological 18,200 level. The gain came as investors weighed developments in the Middle‑East conflict and expectations for European and U.S. monetary policy. Gains were led by banking, energy and infrastructure stocks, supporting the index’s broader recovery after a weak start to June.

Analysts also singled out Iberdrola as the most defensive Ibex stock. The utility has risen roughly 7% year‑to‑date and posted an 11% increase in adjusted net profit in Q1, driven by its network businesses in the UK and the United States. Barclays upgraded its rating to “overweight” and lifted the target price to €22.6, citing growth opportunities from the energy transition and AI‑driven data‑centre demand. Consensus price targets remain around €19.9, with some firms forecasting further upside.