MADRID — Spain's benchmark IBEX 35 index climbed Monday, joining a broader rally across European markets after the United States and Iran refrained from further military strikes over the weekend, sending oil prices sharply lower and lifting investor sentiment just as Spanish companies work through one of the busiest stretches of this year's earnings season.

A strong start to the trading week

The IBEX 35 rose 0.76%, or 148.80 points, to 19,734.20 as of mid-morning trading Monday in Madrid, extending gains that have taken shape across European markets following the weekend pause in fighting between Washington and Tehran. The advance builds on a volatile but broadly positive year for Spanish equities, with the IBEX 35 having risen roughly 8.69% since the start of 2026, even as sharp swings tied to the ongoing Iran conflict have repeatedly interrupted the index's upward trajectory in recent months.

A pause in hostilities drives the rally

Monday's gains followed a weekend in which the United States and Iran refrained from launching new attacks against each other, following nearly two weeks of escalating strikes. The de-escalation fueled hopes for a resumption of talks toward an interim ceasefire agreement, sending oil prices tumbling and improving risk appetite across European trading floors. Brent crude futures fell roughly 6% to trade around $90 a barrel Monday, offering relief to markets that had spent much of the year contending with elevated energy prices tied to the broader regional conflict, which has........

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