The problems of private credit in the United States and its connection with AI have taken their toll on Spanish equities today. The leading sector, the financial sector, has fallen sharply in a delayed manner after the American situation. And this has led to the change of bias to negative, although with falls from more to less throughout the session for the Spanish selective, which manages to stay above 18,200 points after the highs reached yesterday.
In this way the cuts have been slightly compensated, despite the weight of the banks in the Ibex 35 by an Endesa that is soaring strongly, endorsed by the rest of the sector.
The IBEX 35 closes the session with falls of 0.54% to 18,189.50 points with the decreases in values such as Banco Sabadell 3.02%, Indra 2.87% and Caixabank 2.78% and the increases experienced by Endesa 7.09%, Acciona 3.21% and ACS 1.51%.
Among the news of the day, Endesa stands out. The Italian company, majority owned by Enel, obtained a net profit of 2,198 million euros in 2025, which represents an increase of 16.4% compared to the 1,888 million euros of the previous year, the company reported, thus shattering the objectives it had set for the year and in which it aimed for profits of about 2,000 million euros.
But also, what the market has really liked has been the Strategic Plan for 2026-2028, which includes investments of 10.6 billion euros, 10% more and doubling of dividend. Increase now to 1.58 euros per share charged to the 2025 results, that is, an increase of 22% from the 1.3 euros distributed among shareholders last year, con pay outpart of the profit that is used to pay 70%.
Telefónica recorded a negative attributable net result of 4,318 million euros in 2025, according to what the company reported to the CNMV, which explains these red numbers due to “non-recurring factors in continued operations.” These include the impact of the restructuring, which includes the latest Employment Regulation File (ERE) with a cost of 2,049 million euros, and the divestments in Latin America, which amount to 2,269 million euros.
The group obtained revenues of 9,174 million euros in the last quarter and 35,120 million euros for the year as a whole, a period in which they grew by 1.5% in constant terms. EBITDA rose 2% in constant terms to 11,918 million euros.
Its president, Marc Murtra, points out that they will follow the roadmap set for 2025, which includes marked financial discipline.
In it scope of recommendations stock market, Sacyr receives positive support from JB Capital Markets, which maintains the buy recommendation and raises its target price from 4.65 to 4.80 euros, while Puig Brands also sees its potential reaffirmed after the review by Goldman Sachs, which maintains the buy recommendation and raises the target from 20 to 21 euros.
Naturgy maintains a market weight recommendation from Morgan Stanley, although with a cut in the target price from 28 to 27 euros, an entity that also maintains a vision of underweighting Enagás, raising its target from 12 to 13 euros.
And the fight between BBVA and Banco Santander stands out, which in this case, with today’s recommendations, the former wins. For the Cantabrian entity, Citi maintains the buy recommendation on Santander shares while raises its target price to 12.50 euros from the previous 11.90, which means a potential advance of 14.4%.
However, BBVA seems to have a longer path. Not in the case of Bestiver, which, although it revises downwards despite maintaining its buy recommendation, the bank’s PO, to 22.10 from 22.40. Although this target price represents a potential of the current 11.7%.
However, also on this day, Alantra reinforces its purchase advice on value with a target price set at 23.60 euros per share, which means that BBVA could progress upwards by up to 17.6%. And UBS predicts an improvement to 22.30 euros, thanks to Türkiye.
Already in the rest of Europethe CAC 40 ended with slight increases of 0.26% at 8,519.56 points. Meanwhile, the DAX has gained a minimum 0.04% to 24,997 points, the FTSE 100 drops a slight 0.06% and the Euro Stoxx 50 it advances 0.07% to 6118 points.
On Wall Street, a full-blown rebound is taking shape in the three main indicators, after doubts about private credit and the connection of AI.
Among the values stand out today, awaiting the account tomorrow at the closing of NVIDIA, AMD, Advanced Micro Devices, which has announced the agreement to sell artificial intelligence chips worth up to 60,000 million dollars to Meta over five years, in an agreement that also allows the company behind WhatsApp or Instagram acquire up to 10% of the chip company.
Specifically, Meta’s investment in AMD includes a performance-based warrant that could amount to up to 160 million AMD sharesaccording to the companies’ joint statement. The allocation is structured to accrue as specific milestones associated with Instinct GPU shipments are reached. AMD shares soared almost 7% after reaching increases of almost 14%.
At the close of the Spanish stock market, the DOW JONES rose 0.72% to 49,156 points, the S&P 500 advanced 0.50% to 6,872 points and the Nasdaq gained 0.82% to 22,811 points.
Already in fixed income, widespread cuts in asset returns, reaching falls of 0.29% for the 10-year Spanish bond up to 3.122% while, the German bund places its yield at 2.7085% and drops 0.28%.
In oil, price cuts. Specifically, the reference future in Europe, Brent falls 0.45% to $70.78 while West Texas places its price at $65.88 per barrel while losing 0.65%.
Meanwhile, Gold Futures are lower at $5,166 per ounce, after losing 1.12%.
The Euro Dollar, with hardly any movements with cuts of 0.06% to 1.1778 units. For its part, Bitcoin lost 1.62% and placed its price at $64,266 per asset.