The Madrid-based IBEX 35 index closed above the 18,000-point threshold for the first time in its history on Monday, defying a backdrop of falling commodity prices that weighed on investor sentiment at the start of a week packed with earnings, central bank meetings, and macroeconomic data.

The Spanish benchmark ended the session up 234.30 points, or 1.31%, at 18,115.20, marking an all-time high.

In the banking sector, Santander gained 2.49%, BBVA rose 2.14%, Caixabank advanced 2.29%, Sabadell climbed 2.75%, and Bankinter appreciated by 1.91%.

Among major non-financial stocks, Telefónica added 1.02%, Inditex was up 0.91%, Iberdrola slipped 0.18%, Cellnex fell 0.12%, and oil company Repsol lost 1.18%.

The FTSE Eurofirst 300 index of leading European shares climbed 1.09%.

(Reporting by Benjamín Mejías Valencia; editing by Natalia Ramos)