Spanish Ibex 35 surges toward 20,000 points as market rally accelerates

The Ibex 35, Spain’s main stock index, has climbed to near‑historic levels, trading around 19,900 points and edging close to the psychologically important 20,000‑point mark. The index finished July at 19,782 points, up 1.60% for the month and 41% over the past 13 months, with only one month of decline in that period.

A dozen constituent stocks have outperformed the index, posting gains of 60% to 125%. ArcelorMittal and Repsol have roughly doubled their values, while BBVA, Santander, ACS, Acerinox and others have posted strong returns. BBVA reported record earnings exceeding €6 billion for the first half of the year and announced a €2 billion share‑buyback programme. The rally has been supported by easing geopolitical tensions in the Middle East and a pull‑back in oil prices, which have helped improve market sentiment.

The Ibex recorded an intraday high of 19,913.90 points on 27 July, though it has not yet closed above the 20,000‑point threshold.