Spanish equities put a new all-time high on the tablethe ninth so far in January and this year while consolidating the number 24 since last October. the second time is the charm and after yesterday’s failed attempt and exceeding 17,800 points, with the healthy effect of the bank again clearly positive and the advance of values such as Solaria and Laboratorios Rovi in the first positions.
One day, however, negative for values such as Cellnex or Telefónica, both with negative market recommendations.
At closing, the IBEX 35 rose 0.70% to 17,804.10 points with the gains of companies such as Solaria 2.94%, Unicaja 2.04% and Bankinter 1.88% and the falls experienced by values such as Cellnex 3.04%, Amadeus 2.62% and Telefónica 1.03%.
Among the news of the session, Cellnex has resumed its share buyback, for a maximum monetary amount of 300 million eurosonce the dividend payment has been made this January. It is the most punished value of the session because JB Capital has maintained the recommendation to underweight the value despite slightly raising the target price of the share to 33.60 euros per share, by 10 cents.
Telefónica was also punished, with cuts exceeding one percentage point, on the day in which it successfully closed the issuance of a green bond for an amount of 1,000 million euros. The company already has 2,750 million euros placed so far in 2026, including the hybrid bond issued in the first half of January. Added to this are another 170 million Swiss francs recently launched on the Swiss market. With these operations, the company continues to advance in proactive management of its debt, supported by a diversified and solid investor base.
Meanwhile, Mediobanca maintains its neutral recommendation on the stock but reduces its target price to 4 euros from the previous 4.25.
In the analyst recommendations, Bestinver Securities raises Redeia’s recommendation to ‘buy’ from ‘hold’, and the target price to 16.50 euros from 16. JB Capital Markets maintains its ‘neutral’ recommendation for Logista but raises the target price to 33.60 euros, from 33.50.
In addition, Acciona has extended the deadline to 15 months. an absolute return financial swap contract that it signed in May 2025 for a notional amount of 100 million euros on its sharesan operation carried out to bet on the rise of its securities on the stock market. As reported to the CNMV, there are a maximum of 815,661 shares, representing 1.49% of the company’s share capital, initially subscribed for 12 months but now extended for an additional 3 months.
In the Continuous Market, it must be taken into account that Renta 4 Banco obtained an attributable net profit of 42.6 million euros, which represents a growth of 40.6% compared to 30.3 million euros registered in 2024. In the fourth quarter, the net profit rose to 12 million euros compared to 7.2 million euros in the same period of 2024, which represents 67.7% more. The CET1 capital ratio was around 16.1%, while the return on equity (ROE) rose to 26.93% at the end of December.
Already in the rest of Europe, general advances, except in Paris, the EURO STOXX 50 rises 0.6% to 5,993 points, the CAC 40 advances 0.27% to 8,152 points, the Dax loses a 0.28% up to 24,880 points and the FT 100 rises at today’s close 0.52% to 10,201 points.
On Wall Street, mixed trend in the indicators with significant falls for the Dow Jones, on the verge of losing the level of 49,000 points at the close and increases especially for the Nasdaq and the S&P 500.
Falls in the Dow Jones with first and last name: UnitedHealth, which plummets 12% after the Trump administration proposed practically fixed rates for Medicare Advantage insurers. Specifically, the Government’s proposal implies an average net increase of 0.09% in payments for Medicare Advantage plans in 2027, according to a statement from the Centers for Medicare and Medicaid Services published on Monday. This figure is significantly lower than the expectations of Wall Street analysts, who expected an increase of between 4% and 6% for next year.
This morning it published its results and the market did not like the guides either, with 2026 revenue exceeding $439 billion, representing a 2% year-over-year decline reflecting a “company-wide right-sizing.”
Let us remember the strong weight of the largest health insurer in the United States in the indicator: it is the sixth most important value, no less than 4.38% and its falls exceed double digits, something unusual in the industrial indicator of the New York Stock Exchange.
The punishment is generated for the entire healthcare sector linked to Medicare, with Humana shares plummeting 19% and CVS Health falling 9.66%.
All on the day that the meeting of the Fed Open Market Committee began, which will end tomorrow with a more than expected press conference for two reasons: the first, despite the fact that the market does not expect any cuts and there is unanimity that Powell will keep rates unchanged, news is expected on the potential ‘delay’ of a new cut, which the market expected in March and which the majority now draws for when the current president leaves, in June.
The second is the confrontation between Powell and Trump and the first words in public, beyond Jerome Powell’s famous statement about his accusation in the prosecution that he directly attributes, moving on to the attack on the White House, on the American president who wants to lower interest rates in the US.
A day in which the S&P 500 reaches intraday record levels, supported by the rise of Apple of close to 2% and Microsoft, above 1.3%.
At the close of the Spanish session, the DOW JONES rose 0.14% to 48,430 points, the S&P 500 advanced 0.18% to 6,891 points, with record levels, and the Nasdaq OMX gained 0.23% to 23,482 points.
In the rest of the market, we start with the fixed income market, with cuts in the 10-year Spanish bond, from 1.5% to 3.292% while in the case of the German bund, there are decreases of 1.53% to 2.8624%. The risk premium drops a resounding 4.58% and corrects to 42.91 basic points.
In raw materials, oil slight cuts for the future of the Brent barrel to 61.98 dollars, from 0.13 while West Texas places its price at $57.98, and gives up 0.03.
Gold falls from its intraday highs, which today it once again exceeds at $4,530, and at the close of the Spanish stock market it stands at $4,487 per ounce with an increase of 0.39%.
Bitcoin is already rising 1.13% in the cryptocurrency market to $88,583 per asset. Finally, in the Euro-Dollar relationship with a rise to maximum levels, with recovery of the single currency, again in the face of a weak dollar, with its worst levels in the last three years. Gains 0.7% to 1.1962 units.