Madrid, 10 November 2026. The IBEX 35 ended trading on the Bolsa de Madrid at 19,934 points, once again narrowly missing the 20,000-point threshold. Spain’s benchmark index gained almost one per cent during the day, before profit-taking towards the end of the session curbed some of the gains.
The main driver was a marked fall in oil prices. The European benchmark oil price Brent fell during the day to around US$90 a barrel, its lowest level since August. The US benchmark price West Texas Intermediate fell by almost three per cent at one point. Traders attributed the move to easing geopolitical tensions. US President Donald Trump had said that the war with Iran was “practically over in military terms”. Such signals usually reduce the risk premium on crude oil and support economically sensitive shares.
On the Spanish stock market, shares particularly dependent on energy costs or transport benefited, while energy and commodity stocks were mixed amid falling oil prices. Overall, however, sentiment was positive, bringing the index back towards the round-number mark during the day. The IBEX 35 had briefly crossed it for the first time in early August.
Analysts point out that 20,000 points is significant mainly as a psychological threshold. Fundamental obstacles remain: interest rates are high despite inflation having fallen recently, and the outlook for monetary policy in the United States and the euro area remains central to share valuations. In addition, the Spanish market’s medium-term performance continues to depend heavily on external factors such as commodity prices and the international economy.
In the coming days, investors will be watching for new US inflation data and possible signals from major central banks ahead of their next rate meetings. If Brent remains below $90, this could further ease the pressure on the margins of energy-intensive industries. Conversely, another surge in oil prices would quickly stall the IBEX 35’s recent recovery.
According to data from stock-market services and market reports, closing levels and price ranges confirmed the observed trend. Stock-market statistics from Bolsas y Mercados Españoles place the day’s rise within the Spanish benchmark index’s volatile upward trend, which has continued since the summer.
Editor: Daniel Mayer (Article created with AI assistance).