IBEX 35 Surpasses 10,000 Points, Boosting Spanish Stock Market

Key Points

• The IBEX 35 index exceeded 10,000 points on Thursday, June 2, 2023, reaching 10,008.40 points at the close of the session.
• This achievement marks a significant milestone for the Spanish stock market and is the highest level for the IBEX 35 since February 2020.
• The index's growth is attributed to positive economic data, strong corporate earnings, and expectations of further interest rate hikes by the European Central Bank.

Positive Economic Indicators and Strong Corporate Earnings Drive IBEX 35's Rise

Various positive economic indicators have contributed to the IBEX 35's rally. Spain's GDP grew by 0.8% in the first quarter of 2023, exceeding expectations. Additionally, unemployment continues to decline, reaching 12.3% in April 2023, the lowest level since 2008.

Robust corporate earnings have further fueled the index's growth. Many companies listed on the IBEX 35 have reported strong financial results in recent quarters, demonstrating the resilience of Spanish businesses despite global economic headwinds.

Expectations of ECB Interest Rate Hikes Bolster Market Sentiment

Market expectations of further interest rate hikes by the European Central Bank (ECB) have also contributed to the IBEX 35's surge. Investors anticipate that the ECB will continue to raise interest rates to curb inflation, making European stocks more attractive compared to bonds.

IBEX 35 Companies Benefitting from Economic Recovery

Several key companies listed on the IBEX 35 have played a significant role in the index's rise. Leading banks such as Banco Santander and BBVA have benefited from rising interest rates, while energy companies like Repsol and Iberdrola have gained from higher energy prices.

Additionally, tourism-related stocks such as IAG (owner of British Airways and Iberia) and Meliá Hotels International have rebounded due to the recovery in travel demand as the COVID-19 pandemic subsides.

Conclusion

The IBEX 35's突破10,000点标志着西班牙股票市场的重要转折点。这表明西班牙经济稳健增长、企业盈利强劲，并受到投资者对欧洲央行进一步加息的预期提振。随着经济复苏继续，预计IBEX 35未来将继续表现良好。