The Spanish stock market is about to surpass its 2007 record highs.

BarcelonaThe Ibex 35, the benchmark index for the Spanish stock market, surpassed its all-time highs recorded in November 2007 on Monday and is on the verge of surpassing the symbolic 16,000-point mark. The index, which groups the 35 largest listed companies in Spain, is experiencing another day of gains, as are most other global markets, driven higher by the recent trade rapprochement between the United States and China.

The highest level recorded by the Spanish index to date was 15,945.70 points, at which the market closed on November 8, 2007, although it reached 16,040.40 points at one point on that day. This Wednesday, the Ibex 35 was at 15,958.90 points, up 0.61% at 1:30 p.m. The Spanish stock market includes the Barcelona, ​​Madrid, Valencia, and Bilbao stock exchanges.

Since January 1st, the Ibex has grown by 37.7%, making it the stock market index that has increased the most so far this year in Western countries, above Milan and Frankfurt, which have registered increases of 25% and 2%. As for the US, the Nasdaq technology index has grown by 20%; the S&P 500, by 15%, and the Dow Jones in New York, by nearly 11%.

Trade agreements

Wednesday's rise is largely due to the announcement by US Treasury Secretary Scott Bessent of the closing of a framework agreement between Washington and Beijing that will prevent the US government from imposing a new 100% tariff on Chinese products. The US has also signed trade agreements with Thailand, Malaysia, and Cambodia to remove tariffs on most US products entering these three markets, while exports from these countries to the US will have a 19% tariff. With these agreements, the Trump administration reduces the possibility of further escalations in the trade war it is waging internationally, especially against exporting countries in Asia and Europe.

Furthermore, global financial markets are counting on the Federal Reserve to cut interest rates again in the US on Wednesday to facilitate credit and revitalize the US economy, while they also expect the European Central Bank to leave the price of money in the eurozone unchanged on Thursday.

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