IBEX 35 closes near 19,000 after 1.63% rebound

The IBEX 35 closed Monday, November 2, at 18,957.80 points, gaining 304.90 points, or 1.63%, from the previous session. The Spanish benchmark ended near the 19,000-point mark after recovering from a 1.09% decline on Friday.

According to EFE, the advance was supported by a recovery in banking shares, a rise in Wall Street and a sharp decline in oil prices. The agency reported that Spanish banks rose by an average of 2.4%, while Brent crude fell 7.21% to 105.25 US dollars per barrel.

Oil relief lifts risk appetite

The move in energy prices followed diplomatic activity involving Iran and Qatar, which raised hopes of progress toward reducing tensions around the conflict and oil supply. Anadolu Agency reported that lower crude prices also supported travel and leisure shares, while energy stocks declined. The report said the IBEX 35 led major European markets with its 1.63% gain.

Banks and travel stocks lead

EFE reported gains of 2.65% for Banco Santander, 2.47% for BBVA and 2.42% for Inditex. Amadeus and Fluidra were the strongest IBEX 35 performers, each rising 4.65%, while Solaria gained 4.49% and IAG advanced 3.62%. Repsol was the weakest large constituent, falling 2.47% as the oil price decline weighed on the energy sector.

The session's rebound came after a difficult October for the Spanish benchmark. The index rose 9.53% in 2026 through Monday's close, according to EFE, but investors still face geopolitical uncertainty and changing expectations for interest rates.

Busy agenda ahead

Market attention now turns to the US midterm elections, the US employment report and a heavy schedule of corporate earnings. Apple results and the debate over the cost and financing of artificial-intelligence investment are also expected to influence global technology sentiment. These events could determine whether Monday's advance develops into a broader stabilization or remains a short-term relief rally.

Further IBEX 35 coverage is available on the IBEX 35 topic page.