Why Spain's stock market is booming — and what might come next

A booming economy and well-positioned corporations has helped make Spain's stock market one of the best performing in Europe this year. Spain's benchmark IBEX 35 has gained around 30% since the start of 2025, outperforming many of its peers in Europe and beyond. .IBEX YTD line IBEX 35 year-to-date price Elsewhere on the continent, Germany's DAX index — up more than 20% so far this year — has also been an outperformer , bolstered by optimism over Berlin's "fiscal bazooka" that will see vast investments made in infrastructure and defense. But the index is still trailing behind its Spanish counterpart. The IBEX 35's year-to-date gains are also far ahead of those seen among Wall Street's major indexes. Meanwhile, Spain's IBEX Small Cap index is up by 22% so far this year, and the Madrid Genera