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| {{Infobox Index
| | 59 yr old Park Ranger Scherbarth from Vermilion River County No. 24, has many hobbies that include music-keyboard, diet and surf fishing. Finds the entire world an fascinating place after spending 9 months at Birthplace of Jesus: Church of the Nativity and the Pilgrimage Route.<br><br>Feel free to visit my homepage [http://Tinyurl.com/7426o5ivi282 dash diet] |
| |name = IBEX 35
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| |logo = [[Image:IBEX 35.png|180px]]
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| |foundation = 1992
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| |operator = [[Bolsas y Mercados Españoles]]
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| |exchanges = [[Bolsa de Madrid]]
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| |constituents = 35
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| |cap_level = Large cap
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| |mcap = [[Dollars|$]]771.4 billion <small>(November 2007)</small><ref name="end09">{{cite web
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| |url=http://www.ibex35.com/findiai/historico/i20091230.pdf
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| |title=Index constituents of IBEX 35 at the closing of: 8/09/2011 after adjustment
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| |date=9 June 2011
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| |accessdate=2011-09-08
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| |publisher=[[Bolsas y Mercados Españoles|Sociedad de Bolsas]]|format=PDF}}</ref>
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| |weighting = [[Market value-weighted index|Market value-weighted]]
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| |related = [[Madrid Stock Exchange General Index|Madrid General Index]]
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| |homepage = [http://www.ibex35.com www.ibex35.com]
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| }}
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| [[Image:IBEX 35 performance August 2009.png|thumb|250px|right|Values of the IBEX 35 between 1992 and 2009.]]
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| [[Image:IBEX 35 21-01-2008 24-01-2008.svg|thumb|right|IBEX closing values between 21 and 24 January 2008, showing both the biggest one-day gain and fall.]]
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| The '''IBEX 35''' ({{IPAc-en|aɪ|ˈ|b|ɛ|k|s|_|ˈ|θ|ɜr|t|i|_|f|aɪ|v}}; {{IPA-es|ˈiβeks ˈtɾeinta i ˈθiŋko|lang}}; [[Contraction (grammar)|contraction]] of '''Índice Bursatil Español''', literally Spanish Exchange Index) is the benchmark [[stock market index]] of the [[Bolsa de Madrid]], [[Spain]]'s principal [[stock exchange]]. Initiated in 1992, the index is administered and calculated by Sociedad de Bolsas, a [[subsidiary]] of [[Bolsas y Mercados Españoles]] (BME), the company which runs Spain's securities markets (including the Bolsa de Madrid). It is a market capitalization weighted index comprising the 35 most [[Market liquidity|liquid]] Spanish stocks traded in the [[Madrid Stock Exchange General Index]] and is reviewed twice annually.<ref>[[Wikinvest:IBEX 35|IBEX 35 facts via Wikinvest]]</ref> Trading on [[Option (finance)|options]] and [[futures contract]]s on the IBEX 35 is provided by MEFF (Mercado Español de Futuros Financieros), another subsidiary of BME.<ref>{{cite web
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| |accessdate=1 October 2010
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| |title=About us
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| |url=http://www.meff.es/aspx/Comun/Pagina.aspx?l1=QueEs&f=Home&id=ing
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| |publisher=Mercado Español de Futuros Financieros}}</ref>
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| ==History==
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| The IBEX 35 was inaugurated on 14 January 1992,<ref>{{cite news
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| |date=15 January 2007
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| |accessdate=2008-01-21
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| |title= El Ibex 35 celebra su 15º cumpleaños con una revalorización superior al 400%
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| |url=http://www.elmundo.es/papel/2007/01/15/economia/2072695.html
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| |publisher=[[El Mundo (Spain)|El Mundo]]}}</ref> although there are calculated values for the index back to 29 December 1989, where the base value of 3,000 points lies.<ref name="rules">{{cite web
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| |publisher=Sociedad de Bolsas
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| |url=http://www.sbolsas.com/data/normdef-in.pdf
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| |title=Technical Regulations for the Composition and Calculation of the Sociedad De Bolsas, S.A. Indexes
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| |accessdate=2008-01-27|format=PDF}} {{es icon}}</ref>
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| Between 2000 and 2007, the index outperformed many of its [[Western world|Western]] peers,<ref>{{cite web
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| |url=http://finance.yahoo.com/charts#chart7:symbol=^gdaxi;range=5y;compare=^dji+^ibex+^fchi+^ftse;indicator=volume;charttype=line;crosshair=on;logscale=on;source=undefined
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| |title=5-year comparison chart of Xetra DAX, IBEX 35, CAC 40, FTSE 100 and DJIA
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| |publisher=[[Yahoo! Finance]]
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| |accessdate=2007-12-28}}</ref> driven by relatively strong domestic [[economic growth]] which particularly helped [[construction]] and [[real estate]] stocks.<ref>{{cite news
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| |first=Sharon
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| |last=Smyth
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| |work=[[Bloomberg L.P.|Bloomberg]]
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| |date=9 January 2007
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| |accessdate=2008-01-27
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| |title=Around the Markets: Spanish stock market could become victim of its own success
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| |url=http://www.iht.com/articles/2007/01/08/bloomberg/bxatm.php
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| |publisher=[[International Herald Tribune]]}}</ref> Consequently, while the record highs to date of the [[FTSE 100]], [[CAC 40]] and [[AEX index|AEX]], for example, were set during the [[dot-com bubble]] in 1999 and 2000, the IBEX 35's all-time maximum of 15,945.70 was reached on 8 November 2007.<ref>{{cite news
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| |date=8 November 2007
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| |accessdate=2008-01-27
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| |title= Récord para el Ibex: Santander hizo saltar la sesión por los aires
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| |url=http://www.eleconomista.es/mercados-cotizaciones/noticias/310024/11/07/Record-para-el-Ibex-Santander-hizo-saltar-la-sesion-por-los-aires.html
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| |publisher=[[eleconomista.es]]}}</ref><ref>{{cite web
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| |url=http://finance.yahoo.com/q/hp?s=%5EIBEX
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| |title=Historical prices of IBEX 35
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| |publisher=[[Yahoo! Finance]]
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| |accessdate=2007-12-28}} {{es icon}}</ref>
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| The week of the [[January 2008 stock market downturn]] was characterised by extreme [[Volatility (finance)|volatility]] in the markets, and saw both the biggest one day percentage fall and rise in the IBEX 35's history. The index closed 7.5% down on 21 January 2008, the second biggest fall in the Spanish equity market since 1987,<ref>{{cite news
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| |date=21 January 2008
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| |accessdate=2008-01-21
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| |title= El Ibex 35 pierde un 7,5% y registra la mayor caída de toda su historia
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| |url=http://www.elmundo.es/mundodinero/2008/01/21/economia/1200933104.html
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| |publisher=[[El Mundo (Spain)|El Mundo]]}}</ref> and rose a record 6.95% three days later.<ref>{{cite news
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| |date=24 January 2008
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| |accessdate=2008-01-24
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| |title=El Ibex gana un 6,95%, la mayor subida de su historia
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| |url=http://www.elpais.com/articulo/economia/Ibex/gana/695/mayor/subida/historia/elpepueco/20080124elpepueco_5/Tes
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| |publisher=[[El País]]}} {{es icon}}</ref>
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| ==Rules==
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| ===Selection===
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| The composition of the IBEX 35 is reviewed twice per year (in June and December)<ref name="questions">{{cite web
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| |publisher=Sociedad de Bolsas
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| |url=http://www.ibex35.com/IndicesIBEX_10IBEX35_EN.asp
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| |title=TEN KEY QUESTIONS ABOUT IBEX 35
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| |accessdate=2008-01-27}}</ref> by the so-called Technical Advisory Committee, which consists of "representatives of the [[stock exchange]]s and [[Derivative (finance)|derivatives]] markets, as well as... renowned experts from the [[Academia|academic]] and financial fields".<ref name="questions" /> If any changes are made, they are
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| effected on the first trading day of July or January.<ref name="questions" /> In general, at each review, the 35 companies with the highest trading volume in [[Euro]]s over the previous six months are chosen for inclusion in the index, provided that the average [[float (finance)|free float]] [[market capitalization|market cap]] of the stock is at least 0.3% of the total market cap of the index.<ref name="rules" /> Any candidate stock must also have either been traded on at least a third of all trading days in the previous six months,<ref name="questions" /> or rank in the top twenty overall in market cap<ref>{{cite web |date=17 April 2008 |accessdate=2008-04-18 |title=Notice from the Technical Advisory Committee of the IBEX indices regarding changes to the Technical Regulations for the Composition and Calculation of the Indices |url=http://www.sbolsas.com/ing/ficheros/documentos/comiteasesor/AC05-08en.pdf |publisher=[[Bolsas y Mercados Españoles|Sociedad de Bolsas]]|format=PDF}}</ref> (thus allowing large recently [[Initial public offering|IPO'ed]] companies to be included).
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| ===Weighting===
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| [[File:Palacio de la Bolsa de Madrid - 01.jpg|thumb|200px|right|The [[Bolsa de Madrid]].]]
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| The IBEX 35 is a [[market value-weighted index]].<ref name="questions" /> The market cap used to calculate the weighting of each constituent is multiplied by a free float [[Coefficient|factor]] (ranging from 0.1 to 1) depending on the fraction of shares not subject to block ownership.<ref name="rules" /> Any company with 50% or more of its shares considered free float is given a free float factor of 1.<ref name="rules" /> Unlike many other [[Europe]]an benchmark indices, the weightings of companies in the IBEX 35 are not capped.
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| ===Calculation===
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| The index value (given here as ''I'') of the IBEX 35 index is calculated using the following formula:<ref name="rules" />
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| <math> I(t) = I(t-1)\times\frac{\sum_{i=1}^{35} Cap_{i}(t)\,}{[\,\sum_{i=1}^{35} Cap_{i}(t-1)\,\pm J\,]\,} </math>
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| with ''t'' the moment of calculation; ''Cap'' the free float market cap of a specific listing and ''J'' a coefficient used to adjust the index on the back of capital increases or other [[corporate action]]s so as to ensure continuity. The formula can be adjusted to accommodate changes in index structure, such as the temporary suspension of companies pending news.
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| ==Components==
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| The following 35 companies make up the index as of the addition of [[Jazztel]] effective 23 April 2013.
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| [[File:Juan J. Sister - IMO 9039391 -a.jpg|right|thumb|Passenger ferry operated by [[Acciona Trasmediterránea]] in Tenerife.]]
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| [[Image:Openbank BCN.jpg|right|thumb|Banco Santander branch in [[Barcelona]].]]
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| [[Image:Ifc Zara 20071110.jpg|right|thumb|A branch of Inditex's [[Zara (clothing)|Zara]] chain in [[Hong Kong]].]]
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| [[File:Pastoriza, Arteixo Galiza 08b.jpg|right|thumb|Repsol YPF refinery in [[A Coruña]].]]
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| [[File:IndraArroyo.jpg|right|thumb|Indra headquarters in [[Alcobendas]].]]
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| {| class="wikitable sortable" style="text-align: center;" cellpadding=2 cellspacing=2
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| ! Company !! [[Madrid Stock Exchange General Index|IGBM]] sector !! Ticker symbol !! Index weighting (%)<sup>{{ref| 1|1}}</sup>
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| | [[Abengoa]] || engineering and others || {{BMAD2|ES0105200416|ABG}} || 0.36
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| | [[Abertis]] || car parks and motorways || {{BMAD2|ES0111845014|ABE}} || 2.26
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| | [[Acciona]] || construction || {{BMAD2|ES0125220311|ANA}} || 1.01
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| | [[Acerinox]] || minerals, metals and transformation || {{BMAD2|ES0132105018|ACX}} || 0.40
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| | [[Grupo ACS|ACS]] || construction || {{BMAD2|ES0167050915|ACS}} || 2.10
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| | [[Amadeus IT Group|Amadeus IT Holding]] || electronics and software || {{BMAD2|ES0109067019|AMS}} || 1.35
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| | [[ArcelorMittal]] || minerals, metals and transformation || {{BMAD2|LU0323134006|MTS}} || 1.18
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| | [[Banco Popular Español|Banco Popular]] || banks || {{BMAD2|ES0113790531|POP}} || 1.51
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| | [[Banco Sabadell]] || banks || {{BMAD2|ES0113860A34|SAB}} || 1.17
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| | [[Banco Santander]] || banks || {{BMAD2|ES0113900J37|SAN}} || 16.47
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| | [[Bankinter]] || banks || {{BMAD2|ES0113679I37|BKT}} || 0.61
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| | [[Banco Bilbao Vizcaya Argentaria|BBVA]] || banks || {{BMAD2|ES0113211835|BBVA}} || 8.82
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| | [[Bolsas y Mercados Españoles|BME]] || investment services || {{BMAD2|ES0115056139|BME}} || 0.53
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| | [[Caixabank]] || banks || {{BMAD2|ES0140609019|CABK}} || 1.56
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| | [[Dia (supermarket chain)|Dia]] || food retailers and wholesalers || {{BMAD2|ES0126775032|DIA}} || 0.62
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| | [[Enagás]] || electricity and gas || {{BMAD2|ES0130960018|ENG}} || 1.03
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| | [[Endesa (Spain)|Endesa]] || electricity and gas || {{BMAD2|ES0130670112|ELE}} || 0.58
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| | [[Fomento de Construcciones y Contratas|FCC]] || construction || {{BMAD2|ES0122060314|FCC}} || 0.59
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| | [[Ferrovial]] || construction || {{BMAD2|ES0162601019|FER}} || 1.98
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| | [[Gamesa Corporación Tecnológica|Gamesa]] || manufacture and assembly of capital goods || {{BMAD2|ES0143416115|GAM}} || 0.26
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| | [[Gas Natural]] || electricity and gas || {{BMAD2|ES0116870314|GAS}} || 2.38
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| | [[Grifols]] || pharmacy products and biotechnology || {{BMAD2|ES0171996012|GRF}} || 0.94
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| | [[Iberdrola]] || electricity and gas || {{BMAD2|ES0144580Y14|IBE}} || 9.35
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| | [[Inditex]] || textiles, clothing and shoes || {{BMAD2|ES0148396015|ITX}} ||7.55
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| | [[Indra Sistemas|Indra]] || electronics and software || {{BMAD2|ES0118594417|IDR}} || 0.56
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| | [[International Airlines Group]] || transport and distribution || {{BMAD2|ES0177542018|IAG}} || 1.04
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| | [[Jazztel]] || telecommunications || {{BMAD2|GB00B5TMSP21|JAZ}} ||
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| | [[Mapfre]] || insurance || {{BMAD2|ES0124244E34|MAP}} || 0.91
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| | [[Mediaset España Comunicación]] || communication and publicity || {{BMAD2|ES0152503035|TL5}} || 0.44
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| | [[Obrascón Huarte Lain]] || construction || {{BMAD2|ES0142090317|OHL}} || 0.47
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| | [[Red Eléctrica de España|Red Eléctrica]] || electricity and gas || {{BMAD2|ES0173093115|REE}} || 1.45
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| | [[Repsol YPF]] || petrol || {{BMAD2|ES0173516115|REP}} || 7.65
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| | [[Sacyr Vallehermoso]] || construction || {{BMAD2|ES0182870214|SYV}} || 0.22
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| | [[Técnicas Reunidas]] || engineering and others || {{BMAD2|ES0178165017|TRE}} || 0.42
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| | [[Telefónica]] || telecommunications and others || {{BMAD2|ES0178430E18|TEF}} || 20.64
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| |}
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| <small>{{note|1|1}} - After the close on 30 September 2011. Source - [http://www.ibex35.com/findiai/historico/i20110930.pdf Index constituents of IBEX 35 at the closing of: 30/09/2011 after adjustment], Sociedad de Bolsas.</small>
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| ==References==
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| {{reflist}}
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| == See also ==
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| [[:Category:IBEX-35]]
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| ==External links==
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| {{Commons|Category:IBEX 35|IBEX 35}}
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| *[http://www.bolsawallstreet.com Aprende a invertir en Bolsa]
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| *[http://www.ibex35.com/ Official IBEX 35 information site]
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| *[http://www.bolsamadrid.es/ing/mercados/acciones/accind1_1.htm IBEX 35 composition and prices from the Bolsa de Madrid]
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| *[[Wikinvest: IBEX 35|IBEX 35 profile via Wikinvest]]
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| {{DEFAULTSORT:Ibex 35}}
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| [[Category:Spanish stock market indices]]
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| [[Category:1992 introductions]]
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