Spanish Stocks Notch Best Year Since 1993 as Banks Drive Rally

Spanish stocks are poised for their best showing since the early 1990s and strategists predict more gains to come thanks to a brightening earnings outlook.

The country’s benchmark Ibex 35 Index had gained 50% this year through Tuesday’s close, which would be the most in 32 years and make it the best-performing major market in Europe. Estimates for Spanish companies’ earnings growth have risen more than 15% this year, outpacing European peers.