Spanish Stocks Hit New Record Above 20,200 Points Despite Hormuz Tensions

The Spanish stock market achieved a new record on Tuesday, with the IBEX 35 index surpassing 20,200 points for the first time. This milestone was reached despite heightened geopolitical tensions in the Strait of Hormuz, which could disrupt crucial maritime trade routes.

The selective index gained 40.6 points, a 0.2% increase, closing at 20,213.6 points. This new high eclipses the previous record of 20,180.4 points set last Thursday. Year-to-date, the IBEX 35 has appreciated by 16.79%, demonstrating strong performance in the current year.

Initially, the Spanish stock market opened flat, reflecting investor caution due to concerns about the normalization of traffic through the Strait of Hormuz amid escalating U.S.-Iran tensions. However, the market soon shifted to positive territory and maintained its upward trend through the end of the trading session.

Among the top performers, energy company Repsol saw a significant increase of 2.64%, leading the day's gains. Other notable advancers included Solaria, up 2.25%; Corporación Acciona Energía Renovable, with a 2.23% rise; and travel technology firm Amadeus, which climbed 1.65%. Conversely, insurer Mapfre experienced the largest drop, falling 0.77%, followed by construction company ACS, down 0.73%. Energy firm Endesa and pharmaceutical company Laboratorios Farmacéuticos Rovi each declined by 0.6%.