Spain's Ibex 35 Index Surpasses 20,000 Barrier Amid Diplomatic Progress

The Ibex 35 index in Spain surpassed the 20,000 barrier for the first time on Thursday, closing at 20,023 points after a 0.2% gain during the session.

The main catalyst behind this historic milestone was the progress made in negotiations between the US and Iran to ease tensions in the Strait of Hormuz, which triggered a sharp fall in oil prices and tempered inflation expectations.

This news boost equities and sovereign debt, with major European indices closing higher. The Euro Stoxx 50 rose by 0.9%, while the Nasdaq Composite was up 2.1% and the S&P 500 gained 1.3% in the US.