IBEX 35 (IBEX) Index Highlights

The IBEX 35, short for Iberia Index 35, is the main stock index of the Spanish stock exchange and serves as a benchmark for general market trends at the Madrid Stock Exchange. The index was first published on January 14, 1992, but historical prices are available dating back to December 31, 1986. The base value of the IBEX 35 was set at 3,000.00 points on December 31, 1989. Currently, the IBEX 35 is recalculated and updated every second during its trading hours from 9:00 a.m. to 5:30 p.m. Unlike the DAX, the IBEX 35 is a price index. This means that the index level represents the average price of the included stocks. The index does not account for dividend payments, thus reflecting the typical price adjustments associated with dividends. The IBEX 35 consists of the 35 largest publicly traded Spanish companies listed on the Madrid Stock Exchange. The weighting of the companies in the index is primarily based on the market capitalization and the free float market value of the shares. However, the weight of a single company cannot exceed 15 percent. Additionally, a company must meet specific criteria to be included in the IBEX 35. It must be one of the largest companies in Spain and have its registered office in the country. Moreover, the company's stock must be among the hundred most actively traded stocks on the Madrid Stock Exchange. The composition of the IBEX 35 is reviewed and adjusted quarterly by a committee of the Madrid Stock Exchange called "Sociedad de Bolsas S.A.". In contrast to the DAX, the IBEX 35 is a price index. This means that the index level represents the average price of the stocks included in it. Dividend payments are not taken into account in the index calculation, thus reflecting the price adjustments commonly associated with dividends. The trading hours for the IBEX 35 are from 9:00 a.m. to 5:30 p.m. during which the index is recalculated and updated every second.