IBEX 35

IBEX 35
base data
Country	Spain
Stock exchange	Bolsa de Madrid
ISIN	ES0SI0000005
WKN	969223
symbol	I35
RIC	^ IBEX
Bloomberg code	IBEX <INDEX>
category	Stock index
Type	Price index
family	Single index

The IBEX 35 (Iberia Index) is a share index that includes the 35 most important Spanish companies. The index was introduced on January 14, 1992. The index base is 3,000 points as of December 31, 1989. In contrast to the DAX, it is a price index ; dividends are not included in the index.

calculation

The composition of IBEX 35 is checked every six months (June and December) by the Madrid stock exchange “Sociedad de Bolsas SA”. The Spanish benchmark index includes the companies that show the highest trading volume in the review period and that also meet the following two criteria: firstly, the company's capitalization must be 0.3 percent above the average capitalization of the IBEX 35 and, secondly, the shares should be at least one third of the days under review have been traded.

Technically speaking, the index is a price index that is weighted according to market capitalization (on a free float basis). The index is not adjusted for dividend payments . Corporate actions such as stock splits have no (distorting) influence on the index. The calculation is updated every second during trading hours from 9:00 am to 5:30 pm CET .

The IBEX 35 is dominated by the finance, telecommunications and energy sectors. At the end of October 2010 they made up the five largest index members, which together accounted for 68.5 percent of the index's capitalization. These included the former state monopoly Telefónica , the two big banks Banco Santander and BBVA , the utility Iberdrola and the oil company Repsol . Despite this imbalance, the index is used by certificate providers as a base value for numerous products.

The index value (given as I ) of the IBEX 35 index is calculated using the following formula:

${\ displaystyle I (t) = I (t-1) \ times {\ frac {\ sum _ {i = 1} ^ {35} Cap_ {i} (t) \,} {[\, \ sum _ { i = 1} ^ {35} Cap_ {i} (t-1) \, \ pm J \,] \,}}}$

history

Historical overview

IBEX-35 Index 1986-2012

The Spanish benchmark index IBEX 35 was introduced on January 14, 1992 and was calculated back to December 31, 1986 to a closing level of 2,201.00 points. The index base is 3,000 points as of December 31, 1989.

Milestones in the development were December 26, 1996, when the index closed for the first time above the 5,000-point mark at 5,101.76 points, and March 24, 1998, when it traded above 10,093.92 points for the first time Finished 10,000 point mark. By March 6, 2000, the IBEX rose to a closing level of 12,816.80 points. After the speculative bubble burst in the technology sector ( dot-com bubble ), the index fell to a low of 5,452.40 points by March 12, 2003. That was a decrease of 57.5 percent since March 2000.

March 12, 2003 means the end of the downward slide. From spring 2003 the IBEX began to rise again. On November 8, 2007, the share index ended trading at an all-time high of 15,945.70 points. Since the low in March 2003, the profit has been 192.5 percent. In the course of the international financial crisis , which had its origin in the US real estate crisis in the summer of 2007, the IBEX began to decline again. From autumn 2008 the crisis increasingly affected the real economy. As a result, share prices collapsed worldwide.

On October 9, 2008, the index closed again at 9,902.90 points, below the limit of 10,000 points. In the course of the crisis, the volatility of the index increased. On October 10, 2008, he suffered the biggest one-day crash in history at 9.14 percent. The IBEX hit a new low on March 9, 2009 when it ended trading at 6,817.40 points. Since November 8, 2007, this corresponds to a decrease of 57.2 percent. The IBEX experienced the highest price increase on May 10, 2010 (14.44 percent) due to the decision to establish the European Stability Mechanism . March 9, 2009 marks the turning point of the downward trend. From spring 2009 the index was on the way up again. By January 6, 2010 it rose by 79.3 percent to a closing level of 12,222.50 points.

The euro crisis from 2010 and the slowdown in the global economy from 2011 led to a slump in the IBEX 35. On July 24, 2012, the Spanish benchmark index closed at 5,956.30 points, its lowest level since April 1, 2003. The loss since the high on January 6, 2010 is 51.3 percent and since the all-time high on November 8, 2007, it has been 62.6 percent. The announcement of new bond purchase programs by the European Central Bank and the US Federal Reserve , which are basically unlimited, led to a recovery in prices on the stock market. The monetary stimulus played a bigger role in price formation than the shrinking Spanish economy and the state of business. On January 11, 2013, the IBEX 35 closed at 8,664.70 points, 45.5 percent higher than on July 24, 2012.

Highs

The overview shows the all-time highs of the IBEX 35.

	Points	date
in the course of trading	16,040.40	Friday November 9, 2007
on a closing price basis	15,945.70	Thursday November 8, 2007

Milestones

The table shows the milestones of the IBEX 35 calculated back to 1987.

First close over	Final score in points	date
2,500	2,526.90	January 29, 1987
3,000	3,022.30	July 29, 1987
3,500	3,510.40	October 6, 1987
4,000	4,038.51	April 19, 1996
4,500	4,506.85	November 19, 1996
5,000	5,101.76	December 26, 1996
5,500	5,516.38	January 21, 1997
6,000	6,059.93	May 5, 1997
6,500	6,582.23	May 26, 1997
7,000	7,094.95	July 2, 1997
7,500	7,550.63	January 14, 1998
8,000	8,096.72	February 2, 1998
8,500	8,516.78	February 20, 1998
9,000	9,112.57	March 2, 1998

First close over	Final score in points	date
9,500	9,521.29	March 17, 1998
10,000	10,093.92	March 24, 1998
10,500	10,572.37	April 3, 1998
11,000	11,084.30	December 1, 1999
11,500	11,549.60	December 7, 1999
12,000	12,020.60	February 10, 2000
12,500	12,690.90	February 25, 2000
13,000	13,116.40	October 5, 2006
13,500	13,558.00	October 20, 2006
14,000	14,058.30	November 7, 2006
14,500	14,540.70	January 24, 2007
15,000	15,080.90	April 20, 2007
15,500	15,501.50	June 1, 2007

The best days

The table shows the best days of the IBEX 35 calculated back to 1987.

rank	date	Final score in points	Change in points	Change in%
1	May 10, 2010	10,351.90	1,305.80	14.44
2	Oct 13, 2008	9,955.70	958.00	10.65
3	Oct 29, 2008	8,650.10	744.70	9.42
4th	19 Sep 2008	11,557.90	926.30	8.71
5	Nov 24, 2008	8,622.60	648.20	8.13
6th	Jan. 17, 1991	2,312.10	152.80	7.08
7th	Jan. 24, 2008	13,106.70	852.10	6.95
8th	23 Sep 1998	8,008.20	501.60	6.68
9	Dec 8, 2008	9,036.50	545.30	6.42
10	Jan. 4, 1999	10,447.80	611.20	6.21
11	Aug 27, 1990	2,453.20	140.40	6.07
12	July 26, 2012	6,368.80	363.90	6.06
13	Aug 3, 2012	6,755.70	382.30	6.00
14th	Sep 24 2001	6,885.70	387.30	5.96
15th	Oct 6, 1998	7,566.90	421.10	5.89
16	July 5, 2002	7,078.40	391.80	5.86
17th	Oct 29, 1997	6,392.04	342.16	5.66
18th	June 29, 2012	7,102.20	380.50	5.66
19th	July 29, 2002	6,659.80	356.40	5.65
20th	Nov 4, 2008	9,726.80	495.00	5.36
21st	Oct 15, 2002	5,889.40	281.10	5.11
22nd	July 25, 2002	6,310.10	305.60	5.09
23	Jan. 18, 1988	2,655.10	127.30	5.04
24	Aug 8, 2002	6,396.10	304.40	5.00
25th	Oct 2, 1990	2,221.50	105.50	4.99
26th	Oct. 27, 2011	9,270.50	438.00	4.96
27	Jan. 18, 1999	10,071.50	475.20	4.95
28	March 10, 2009	7,153.30	335.90	4.93
29	6 Sep 2012	7,862.00	368.00	4.91
30th	Oct 16, 1998	8,455.30	395.00	4.90

The worst days

The table shows the worst days of the IBEX 35 calculated back to 1987.

rank	date	Final score in points	Change in points	Change in%
1	Oct 10, 2008	8,997.70	−905.20	−9.14
2	Aug 19, 1991	2,502.80	−232.30	−8.49
3	Oct 22, 2008	8,995.30	−799.70	−8.16
4th	Oct 21, 1987	2,981.00	−250.80	−7.76
5	Jan. 21, 2008	12,625.80	−1,029.60	−7.54
6th	Oct 27, 1987	2,574.20	−198.40	−7.16
7th	Oct. 29, 1987	2,322.60	−178.10	−7.12
8th	Oct 1, 1998	7,133.30	−543.20	−7.08
9	Sep 10 1998	7,904.00	−600.90	−7.07
10	Jan. 13, 1999	9,321.70	−688.80	−6.88
11	May 14, 2010	9,314.70	-662.80	−6.64
12	Aug 6, 1990	2,513.90	−171.50	−6.39
13	Nov 6, 2008	9,133.90	−610.80	−6.27
14th	Oct 6, 2008	10,726.00	−692.50	−6.07
15th	Feb. 24, 2010	10,241.70	−646.70	−5.94
16	Aug 27, 1998	8,580.10	−533.10	−5.85
17th	Sep 14 2001	6,911.80	−426.90	−5.82
18th	20th July 2012	6,246.30	−386.30	−5.82
19th	Aug 21, 1998	9,417.20	−581.00	−5.81
20th	Aug 10, 2011	7,966.00	462.90	−5.49
21st	21 Sep 1998	7,211.40	−417.30	−5.47
22nd	June 29, 2010	9,160.40	−528.10	−5.45
23	May 4, 2010	9,859.10	−563.70	−5.41
24	Nov 10, 1987	2,330.80	−129.40	−5.26
25th	March 4, 1996	3,713.81	−204.36	−5.22
26th	Oct 8, 2008	10,297.60	−564.40	−5.20
27	Oct 24, 2008	8,353.20	−458.00	−5.20
28	Feb 5, 2008	12,814.70	−701.00	−5.19
29	Aug 2, 2012	6,373.40	−346.60	−5.16
30th	July 30, 2002	6,322.30	−337.50	−5.07

Annual development

The table shows the annual development of the IBEX 35 since 1987.

year	Final score in points	Change in points	Change in%
1987	2,407.10	206.10	9.36
1988	2,727.50	320.40	13.31
1989	3,000.00	272.50	9.99
1990	2,248.80	-751.20	−25.04
1991	2,603.30	354.50	15.76
1992	2,344.57	−258.73	−9.94
1993	3,615.22	1,270.65	54.20
1994	3,087.68	−527.54	−14.59
1995	3,630.76	543.08	17.59
1996	5,154.77	1.524.01	41.97
1997	7,255.40	2,100.63	40.75
1998	9,836.60	2,581.20	35.58
1999	11,641.40	1,804.80	18.35
2000	9,109.80	−2,531.60	−21.75
2001	8,397.60	−712.20	−7.82
2002	6,036.90	−2,360.70	−28.11
2003	7,737.20	1,700.30	28.17
2004	9,080.80	1,343.60	17.37
2005	10,733.90	1,653.10	18.20
2006	14,146.50	3,412.60	31.79
2007	15,182.30	1,035.80	7.32
2008	9,195.80	−5,986.50	−39.43
2009	11,940.00	2,744.20	29.84
2010	9,859.10	2,080.90	−17.43
2011	8,566.30	−1,292.80	−13.11
2012	8,167.50	−398.80	−4.66
2013	9,916.70	1,749.50	21.42
2014	10,279.20	362.80	3.66
2015	9,544.50	−734.70	−7.15
2016	9,352.10	−192.10	−2.01
2017	10,043.90	691.80	7.40
2018	8,539.90	−1,504.00	−14.97
2019	9,549.20	1,009.30	11.82

composition

The IBEX 35 consists of the following companies (as of January 2018):

rank	Surname	Branch	Index weighting in%
1	Banco Santander	Banks	14.34
2	Iberdrola	Supplier	10.08
3	Inditex	Textiles, retail	9.56
4th	Telefónica	telecommunications	8.74
5	Banco Bilbao Vizcaya Argentaria	Banks	6.92
6th	Amadeus IT Group	Information technology	5.90
7th	Repsol	oil and gas	4.93
8th	Caixabank	Investment	4.26
9	International Airlines Group	aviation	3.06
10	Gas Natural	oil and gas	3.02
11	Ferrovial	construction	2.92
12	Aena	traffic	2.75
13	Red Eléctrica	energy	2.43
14th	ACS Group	construction	2.30
15th	Grifols	pharmacy	2.17
16	Endesa	Supplier	2.01
17th	Bank inter	Banks	1.41
18th	Enagás	oil and gas	1.28
19th	Banco Sabadell	Banks	1.26
20th	Cellnex	telecommunications	1.16
21st	Merlin Properties	property	1.14
22nd	Bankia	Banks	1.06
23	Siemens Gamesa	Plant construction	1.00
24	Mapfre	Insurance	0.97
25th	ArcelorMittal	steel	0.85
26th	Acciona	construction	0.78
27	Inmobiliaria Colonial	property	0.76
28	Viscofan	food	0.50
29	CIE Automotive	Automotive supplier	0.49
30th	Acerinox	Mining company	0.42
31	Meliá Hotels International	Hotel and restaurant services	0.34
32	Indra sistemas	Information technology	0.32
33	Mediaset España	media	0.32
34	ENCE Energía y Celulosa	cellulose	0.29
35	Técnicas Reunidas	construction	0.27