The classic stock market «Sell in May and go away» Not only has this 2025 been fulfilled, but quite the opposite. In fact, the month of May has witnessed a strong bullish impulse that has led to numerous Ibex 35 values to mark new maximums, both historical and annual, thus challenging one of the most repeated axioms of the stock market calendar.
In total, 19 values have managed to beat records this monthof which 9 have been historical maximum and another 10 annualwhich reflects the good general tone of the market and the great investment appetite in certain strategic sectors.
Indra and the bank lead a month with 9 values in historical dimensions
Without a doubt, the main protagonist of the month at IBEX 35 has been Indra. The company chaired by Ángel Escribano has registered an impressive 33% advance in just 30 daysa rise that culminated with a new Historical maximum at 36.24 euros reached on Tuesday, May 27. This milestone consolidates the good streak of the firm, promoted by relevant contracts in the field of defense and digitalization, and the growing confidence of investors in their road map.
The Spanish financial sector has also shone with its own light. An outstanding example is Unicaja, which has achieved a revaluation close to 16% During May, and yesterday, May 29, the barrier of the barrier of the 1.96 euros per sharebeing at historical maximums. This behavior is partly explained by the improvement of margins, the environment of still attractive types and the expectations of concentration in the banking sector.
Another proper name of the month has been Bankinter, which has not only shown a solid evolution in May, but is consolidated as one of the star values of the year. So far from 2025, it accumulates a 52%rise, and on May 22 it reached its Historical maximum in the 11.75 euros By action. The market has rewarded its solvency, the growth of the traditional banking business and its ability to maintain attractive margins even in an environment of greater competition.
Caixabank has followed this trail with a 8% advance monthly and 44% in the whole of the year, reaching Historic maximums at 7.68 euros (May 22).
Outside the banking sector, Aena has also had an outstanding May. The airport manager has risen near the 11% so far this monthaccumulating a revaluation of 18% so far from 2025. The climax arrived on May 21, when the action reached its Historical maximum in the 243 eurosreflecting the positive effect of air traffic recovery and the good performance of your international business.
In the field of infrastructure, Ferrovial has marked a new Historical maximum in the 46.60 euros May 21, with a increase greater than 6.5% in the month and 10.5% in the year. ACS has also achieved a new record, in this case in the 61 euros of May 20, after revalue 8% in May and accumulate an advance of 21% so far from 2025.
In the energy sector, Iberdrola has registered a new historical maximum on May 26, when reaching the 16.24 euros per share. The company has barely risen 1% in mes, but accumulate a 17 % advance so far this year.
More striking is the case of logista: despite going back 5% in May And 3% so far this year, on the 7th Historical maximum in the 31 eurosevidencing the timely interest of the market for defensive business models and with cash generation capacity.
10 annual maximums in a bullish May
In parallel, others 10 Ibex 35 values have managed to mark annual maximums during the month of Mayalthough without overcoming their historical roofs. Among them, the set of large banks stands out. Banco Santander has risen 10% in the month (+61% in the annual accumulated), reaching 7.11 euros on May 27; BBVA has added 8% in May (+43% in 2025), with annual maximums at 13.77 euros on the 20th; And Banco Sabadell has also joined this trend, with a monthly increase greater than 7% (+51% in the year), marking its annual maximum in the 2.83 euros on May 20. Within the financial segment, but outside the traditional bank, the Mapfre insurer has stood out with a 6.5% rise in May, a month in which it has reached its annual maximum at 3.50 euros.
In the energy sector, Enagas has rebounded more than 4.2% in May, touching maximum annual in the 14.35 euros on May 26; Endesa, with a monthly advance slightly higher than 1.5%, reached its annual level at 27.47 euros on the 23rd; And Naturgy, despite being left almost 2% in the month, registered its annual maximum at 26.50 euros last day 20.
The other three Ibex 35 companies that have reached new annual dimensions in this month are: ACCIONA, which has won more than 8% and touched the 137.80 euros on May 26; Colonial real estate, with a 6% and maximum rise in the 6.03 euros of May 28; and Telefónica, which has advanced 4.3% and reached 4.67 euros in the last week of May.