First trading day of the week that we can classify as good, with the largest increases in Europe for the Spanish selective, supported by the banking sector, which once again delights investors and by an enlarged ArcelorMittal, owner and lord for one more day of the IBEX 35, of which it is clearly the absolute king so far in 2026, with accumulated increases of 42%. Also due to Telefónica’s last-minute acceleration, taking the lead over banks that have lost steam in the final minutes.
However, even though The selective marks closing levels above 18,280 points, which represents its 14th historical maximum of the year, the sixth of the month of February and now totals 28 since last October, the advances have been minimized in the final part of the session due to the falls that Wall Street accumulates, in the face of Trump’s new statements against those who do not take the new tariffs seriously and threatening, for one more day, to raise them.
Thus, at closing, the IBEX 35 gained 0.56% to 18,288.70 points before the rise in values such as ArcelorMittal 2.99%, Telefónica 1.96% and Endesa 1.72% and the falls experienced by Indra 3, 15%, Amadeus 2.98% and Acciona Energías Renovables 1.74%.
Among today’s leading stocks, banks stand out especially, after Deutsche Bank’s report on the sector and RBC’s even longer report on Santander. The German entity highlights double-digit growth for Sabadell and a good general trend in the sector.
It raises the rating of Bankinter and Banco Sabadell from «hold» to «buy», and that of Caixabank from «sell» to «hold», pointing to prospects for resistance in the interest margin.
Considers that the interest margin will regain an upward trend in 2026 and highlights generally stable interest margins and strong business activity, which will lead to a RoTE equal to or greater than 20% for most Spanish banks from 2027.
In addition, RBC raises the recommendation of Banco Santander from «sector equal» to «overweight», anticipating a cost reduction by the Spanish entity and its price at a multiple higher than that of its competitors.
That means a potential double-digit advance since last Friday’s closing 14%and also waiting tomorrow for Investor Day to be celebrated in London. And not only that. The Canadian entity raises it by 44% from its previous target price of 8.5 euros. And he highlights that «compared to other European banks, Spanish banks are very attractive.»
Santander also stood out from the rest in the early afternoon after the historical highs set by the American Webster that it just bought.
Indra is also in the news, negotiating the sale of the subsidiary Minsait Business Consulting to Waterland, according to the newspaper. Expansion . Last Friday, the company also published a protocol under the supervision of the CNMV to regulate the possible operation with Escribano Mechanical & Engineering, establishing measures to avoid conflicts of interest between directors.
Repsol has lowered its 2030 targets for renewable capacity and low-carbon products in a bid to adapt to changing market conditions, according to a report published as part of its 2025 results.
In the Continuous Market, the insurer Línea Directa closed 2025 with a net profit of 85.7 million euros, which represents an increase of 33.5% compared to the previous year. The total premiums issued between January and December were 1.13 million euros, which represents an increase of 11.3% compared to the previous year.
Almirall expects to increase sales by 9-12% this year after an increase of 12.4% in 2025. The company obtained a net profit of 46.2 million euros in 2025, a figure that multiplies by more than four the profits of 10.1 million euros it registered in 2024.
In addition, the Tubos Reunidos staff is called for a new strike day this Monday, coinciding with the new meeting that will be held to continue with the ERE negotiations, which foresees the dismissal of 301 workers from the Amurrio (Álava) and Trapagaran (Vizcaya) plants.
Already in the rest of Europe, a bearish session for the indicators with the plummet of Novo Nordisk, given the failure of his new anti-obesity drug.
The new drug CagriSemafailed to achieve its primary goal of demonstrating noninferiority in weight loss compared to Eli Lilly’s rival drug tirzepatide after 84 weeks, Novo said in a statement Monday morning.
The EURO STOXX 50 drops 0.22% to 6,117 points, the CAC 40 drops 0.22% to 8,497 points, the Dax cede 0.99% to 24,992 points, and the session in London ends for el FT 100 with decreases of 0.08% to 10,678 points.
On Wall Street, great doubts about the tariffs that lead to significant losses in the indicators, in the midst of one of the worst snow storms in memory on the east coast of the United States, with New York at half throttle.
Among the values, the exponential rises of Arcellx stand out, which skyrocketed 78% after Gilead Sciences has announced that it has agreed to buy the biotechnology company for $7.8 billion offering $115 per share in cash at closing and a contingent value right of $5 per share. The premium is 87% compared to last Friday’s close.
In the middle of the session, in the week in which NVIDIA will publish results and in the face of Trump’s new threat to raise tariffs further, the DOW JONES drops 1.62% to 48,821 points, the S&P 500 gives up 1.26% and stands at 6,823 points and the Nasdaq cuts 1.45% to 22,558 points.
Already in fixed income, cut at closing for asset returns, with falls of 0.82% for the 10-year Spanish bond to 3.126% while, the German bund places its yield at 2.7112% and drops 1.01%. The risk premium barely fell 1.34% to 41.25 basis points.
In oil, price increases for barrel futures Brent is trading at $71.69 and gains just over half a point and for West Texas, which, in this case, rose 0.62% to $66.88. Meanwhile, Gold Futures are rising again with advances of 2.83% due to the uncertainty of tariffs and are trading at $5,223 per ounce.
The Euro Dollar with increases of 0.09% for the single currency, while the dollar loses traction up to 1.1792 in its exchange with the American greenback. Bitcoin, for its part, lost a significant 3.41% until its change at $65,324 per ounce.