The Ibex 35 exceeds 15,000 points for the first time since the Great Recession.

MadridThe Ibex 35 has once again surpassed 15,000 points for the first time since the Great Recession. Specifically, during this Wednesday's session, the Spanish stock market surpassed this psychological barrier at various points this morning, standing at 15,019.9 points at the close of trading, representing a 1.08% rebound compared to Tuesday's close. The last time the Ibex 35 surpassed this threshold was on January 2, 2008, at the height of the Great Recession. That day, the session closed at 15,002 points.

Since then, the stock market index had not reached these highs again—until now. It has been getting closer in recent months, and in fact, so far in 2025, the Ibex 35 has appreciated by 28%. The Spanish index's all-time high was set in the winter of 2007, eighteen years ago, when it surpassed 16,000 points.

Peak moment

The Spanish market's strong performance is explained by several factors. First, the tariff truce between the United States and China has brought a glimmer of optimism to investors. Furthermore, the trade war has direct consequences for economic growth and inflation. These last two factors also allow the market to breathe easy. Although in Spain Prices have risen by 2.7% compared to last year, partly due to the base effect, the stabilization of the consumer price index (CPI) in the US recorded this Tuesday provides a breath of fresh air because it opens the door to an interest rate cut in September, although core inflation in the United States continues to rise.

For the time being, the United States Federal Reserve (Fed) has opted for caution and two weeks ago decided to keep its monetary policy unchanged. Thus, despite pressure from the Trump administration to lower rates, the institution chaired by Jerome Powell left them between 4.25% and 4.5%. The main reason was, precisely, the tariff war promoted by the Republican president himself, which supervisory bodies fear could raise inflation. Furthermore, the hangover from Tuesday's US inflation data also left some statements from the US Treasury Secretary, Scott Bessent, which have fueled this optimism: "We could enter into a series of rate cuts, starting with a 50 basis point cut in September," Bessent said, according to Bloomberg.

All of this, combined with the positive earnings performance of major companies, such as the major banks, has sparked optimism across the various stock market indices, which has spread to the Spanish index. Wall Street has also hit all-time highs—the S&P 500 did so on Tuesday night—as has the Japanese stock market. In Europe, the French, British, and German stock markets, among others, have also registered gains.

Regarding companies, after Wednesday's session, the gains of Rovi, Fluidra, and Grifols stand out, all above 2%. Among the large Ibex 35 companies in terms of market capitalization, Iberdrola and BBVA have appreciated 1.7%, and Santander and Sabadell have risen 1.5% and 1.3% respectively. Only five companies closed Wednesday's session with a slight decline, including Indra, Repsol, and IAG.