Spain's Ibex 35 dips below 18,200 amid US‑Iran tensions

On Wednesday the Spanish Ibex 35 index swung sharply. By mid‑session it fell 0.29% to 18,121 points, sliding below the 18,200 level as heightened US‑Iran tensions kept oil prices steadied around $91 per barrel. The U.S. Central Command described a new offensive against Iran as “legitimate defence” after a helicopter was downed near the Strait of Hormuz, prompting Iran to launch drone attacks on U.S. bases in Bahrain.

Later the same day the market recovered, opening higher and climbing 0.44% to 18,255 points, again crossing the 18,200 threshold. Gains were led by Indra, Rovi and Grifols, while Acciona and Acciona Energía recorded the biggest falls. European peers such as the FTSE 100, CAC 40 and DAX also showed mixed moves.

Analysts noted that the episode comes ahead of the European Central Bank’s upcoming interest‑rate decision, with expectations of a 25‑basis‑point hike to combat inflation above 3 %. Spain’s finance minister announced that a macro‑economic framework for the 2027 state budget will be presented to the cabinet on 23 June, and Spanish sovereign bond yields rose modestly.