Ibex 35 tops 20,000 points for first time in history

The Ibex 35 surpassed the 20,000-point mark for the first time in its history on Tuesday, opening with a 0.09% gain and quickly reaching 20,036.9 points Source: ABC. The index had closed Monday at a record 19,982.6 points, up 1.01% Source: Infobae. The milestone comes amid easing geopolitical tensions and a pause in US-Iran hostilities, which have supported risk appetite Source: El Español.

Market drivers

The rally is underpinned by strong corporate earnings, banking sector gains, and expectations of moderating interest rates Source: La Vanguardia. Construction and infrastructure stocks led the advance, with Sacyr up 1.6% and ACS up 1.45% in early trading Source: ABC. European markets also rose, with Milan, Frankfurt, Paris, and London posting gains Source: Infobae. The Ibex has gained 15.5% so far in 2026, making it one of the world's best-performing indices Source: El Español.

Acciona drags

Acciona was the biggest loser, falling 6.83% after the Entrecanales Franco family sold a 3% stake via an accelerated placement at €217.9 per share, raising about €359 million Source: ABC. The sale reduced their holding to 26%, matching the stake of the Entrecanales Domecq branch Source: Infobae.

Geopolitical backdrop

Oil prices remained elevated, with Brent at $84.73 and WTI at $80.75 Source: Infobae. President Trump suggested the Strait of Hormuz could reopen "literally" today, but Tehran denied any negotiations Source: ABC. Some reports note Iran has confirmed talks with Oman on an alternative export route Source: El Mundo. The OPEC+ decision to increase output in September is seen as supportive for supply Source: El Mundo.