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

MadridThe Ibex 35 again touched 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 times during the morning, and at 12:18 p.m. it stood at 15,004.9 points. The last time the Ibex 35 surpassed this threshold was on January 2, 2008, at the very beginning of the Great Recession. That day, the session closed at 15,002 points.

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

The Spanish market's strong performance is explained by several factors. First, the tariff truce between the United States and China has provided a glimmer of optimism among 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 underlying inflation continues to rise.

For the time being, the United States Federal Reserve (Fed) has opted for caution and decided two weeks ago to keep its monetary policy unchanged. Thus, despite pressure from the Donald Trump administration to lower rates, the institution chaired by Jerome Powell left them between 4.25% and 4.5%. The main reason was the tariff war promoted by the Republican president himself, which supervisory bodies fear could raise inflation.

All of this, coupled with the positive results of major companies, such as large banks, has sparked optimism among the various stock market indices, which has infected the Spanish index. Wall Street has also hit all-time highs—the S&P 500 did so Tuesday night—as has the Japanese stock market.