Spanish stock exchange hits new record near 19,200 points after 0.69% rise

Spain's main stock index, the IBEX 35, surged to a new all-time high on Tuesday, closing just shy of 19,200 points after a 0.69% increase. This milestone marks the fourth consecutive session of gains for the benchmark index, which has now accumulated a 10.72% rise year-to-date.

The positive momentum in the Spanish market mirrored trends in other European exchanges, which were buoyed by the perceived stability following a peace agreement between the United States and Iran. The banking sector, in particular, played a significant role in driving the gains, with major lenders showing strong performance.

Wall Street also contributed to the upbeat sentiment, with the Dow Jones Industrial Average showing a 0.75% increase by the close of the Spanish market. Additionally, a notable drop in oil prices, with Brent crude falling 3.86% to $79.96 per barrel, likely provided further support to the market.

Among the top performers on the IBEX 35, the banking group BBVA led the way with a 2.43% increase, followed by Banco Santander, which gained 1.59%. Energy companies Repsol and Iberdrola also saw modest gains. However, not all companies experienced growth, with telecommunications firm Telefónica shedding 0.32% and fashion retailer Inditex losing 1.24%.