20,000 points: Spain's stock market hits its highest level in history
WHAT HAPPENED
The Ibex 35, the stock index of the largest companies in Spain, surpassed 20,000 points for the first time. It closed at 20,176 last week, after rising 1.99% in five days.
WHY IT MATTERS
It is a milestone because the previous record was 15,945.70 points, recorded in 2007. After that, the index fell almost 63% due to the financial crisis and took almost 18 years to recover that level. Banks and energy companies lead the advance.
AND FOR YOUR PORTFOLIO
The effect can reach savings linked to investment funds and pension plans that hold Spanish stocks. A fund that tracked the Ibex and had 10,000 euros would have gained nearly 200 euros that week, although a high does not guarantee that the rise will continue.
💬 TELL IT LIKE THIS
“The Spanish stock market took almost 18 years to recover the level it had before the 2008 crisis and has now broken its record again.”