FX.co ★ IBEX 35 Trades at 17-Year High

Spain's IBEX 35 index has surpassed 13,500 points, marking its highest level since April 2008 and reflecting a roughly 16.5% increase for the year. This upward movement is largely attributed to significant gains in the banking sector. Notably, Banco Santander has seen a rise of over 40%, while BBVA and CaixaBank have increased by 35% and 31%, respectively. In the non-financial sector, Iberdrola achieved a growth of around 20%, though Inditex fell by more than 3.5%. In corporate news, Banco Santander disclosed that Austria’s Erste Group Bank has acquired nearly 49% of Santander Bank Polska and half of Santander TFI. In a separate development, Spain's high-speed train services between Madrid and Andalusia recommenced on Monday after previous disruptions caused by copper cable thefts had stranded passengers. Economically, Spain reported that a record 17.1 million international tourists visited in the first quarter of 2025, representing a 5.7% increase year-on-year. Furthermore, tourist expenditure surged to 23.5 billion euros, rising by 7.2% compared to the same timeframe the previous year, as confirmed by official statistics.