Spain’s IBEX 35 has just climbed past its 2007 high.

Spain’s IBEX 35 has just climbed past its 2007 high, finally breaking a ceiling that held for nearly two decades.

It’s easy to treat this as 'just another market headline,' but it’s actually a meaningful moment. 

Spain spent years being the punchline of post-crisis Europe: sluggish recovery, banking turmoil, structural uncertainty. 

Yet here we are in November 2025, with the index leading Europe year-to-date and showing more resilience than most expected.

The reasons aren’t mysterious: stronger economic growth, healthier banks, and a steady improvement in business confidence. 

But the real story is that Spain isn’t the outlier anymore, it’s becoming one of the Eurozone’s quiet over-performers.

For companies operating here (or thinking about entering), this matters. A market that’s genuinely turning a corner tends to pull other parts of the economy with it: credit conditions, investment appetite, expansion plans.

Momentum isn’t a strategy, of course. But when a market breaks a 17-year ceiling, it’s worth paying attention.