Bullish
IBEX 35 hits 18-year high as Spanish banks report record profits
The IBEX 35 index reached an 18-year high, driven by record profits from Spain's major banks. In the first half of 2026, the six largest Spanish banks reported a combined profit of €20.164 billion, an 18% increase from the same period in 2025. This surge is attributed to the end of zero interest rates by the European Central Bank in 2022, which improved financial margins.
Key points
- BBVA's stock price reached €24.2 after announcing a €2 billion share buyback and raising profit forecasts.
- Endesa revised its net profit targets upward for the year, achieving record highs due to strong financial performance.
- The IBEX 35 index briefly touched 19,888 points, nearing historical highs, but closed slightly lower amid global market uncertainties.
Sources
AI-generated from public news sources. Not financial advice.
