Ibex 35 Climbs to 17-Year Highs as Markets Rally on Trade Optimism and Earnings
The Spanish index closes at 13,554 points, its highest since 2008, driven by upbeat corporate results and anticipation of U.S.–China trade talks in Geneva.
Overview
- The Ibex 35 reached 13,554 points on May 9, marking its highest close since May 2008, reflecting strong investor sentiment.
- Robust Q1 earnings from key Spanish companies, including IAG's €176 million profit, bolstered market confidence.
- U.S.–China trade representatives are set to meet in Geneva this weekend, with President Trump expressing optimism for progress.
- The recent U.S.–U.K. trade agreement has further fueled global market momentum, lifting European indices and commodity prices.
- Brent crude oil rose to $63.85 per barrel, while major European stock markets, including those in Paris and Frankfurt, also posted gains.