Ibex 35 Near Historical Highs Obliges to Justify Each Purchase

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The price of a stock does not go up just because it belongs to the Ibex 35. It goes up when the market finds a reason to pay more for it. After the Spanish Stock Exchange rally, it costs more to find that reason. Now they count the profits, the margins, the box, the dividend and the concrete catalysts. If any fails, the punishment can arrive, even if the index remains strong.The Ibex 35 remains close to maximums above 18,000 points and keeps an …