IBEX35 the most bullish index in Europe 2024
The Madrid Stock Exchange has recently stood out as the most bullish in Europe in 2024, with the IBEX 35 up 11.5% so far this year. This growth has been driven by expectations of global interest rate cuts and optimism around corporate earnings, especially in the United States. Shares of Spanish companies such as Iberdrola and Inditex have reached record highs, with Inditex becoming the first Spanish company to surpass €150 billion in market capitalization.
Nvidia has also been a focus of attention, as the market expects the technology company to report its best quarterly results ever, highlighting its central role in the rise of artificial intelligence. This optimism has driven global indices such as the MSCI World and the MSCI All Country World Index (ACWI) to record highs.
Despite this positive environment, analysts maintain a cautious approach due to economic uncertainty in Europe and geopolitical volatility, warning that while rate cuts can boost markets, they can also generate volatility. Currently the index is looking for the highs again, after exiting the trading channel near the checkpoint around 11,072 points. RSI currently shows an oversold level of 65.36% so it is very likely that it will not be able to pierce the current high in the short term.
Ion Jauregui - Activtrades Analyst
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