After two consecutive days of increases, the IBEX 35 adds its third day up and a new all-time high. Thus, although the selective fails to surpass the barrier of 18,200 points at closingends this Wednesday with increases of 1.35% at 18,197.90 points. Until today, the historical highs at the close of the session stood at 18,195.10 points signed on February 9.
Los The most bullish stocks of the day have been ArcelorMittal (4.18%), ACS (4.13%) and Indra (3.59%). On the other side, the The biggest falls have been for Aena (-3.78%), Natrugy (-3.55%) and Telefónica (-2.70%).
In the business section, the results have once again gained prominence. Early in the morning, Puig announced that it closed the 2025 financial year with a net profit of 587 million euros, 6.5% more than the previous year. Puig recorded «solid growth» in net income, up to 5,042 million, 7.8% more year-on-year at constant scope and exchange rates and 5.3% more in reported terms.
For its part, Naturgy earned 2,023 million euros in 2025, 6.4% more than the previous year, thus reaching a historical profit record for the company. EBITDA rises to 5,334 million euros. In addition, the company highlights an increase in net sales and an investment of 2,142 million euros in networks and renewables.
At the close of today’s American session, Ferrovial’s results are also expected.
On the other hand, Telefónica has informed the market that its subsidiary Telefónica Infra, together with Liberty Global Europe 2 Limited and InfraVia Capital Partners, through its fiber joint venture nexfibre, has reached a agreement to acquire 100% of Substantial Topco Limited, parent of Netomnia and second largest alternative fiber operator in the country. The amount of the transaction amounts to 2,000 million pounds sterling, approximately 2,294 million euros. Telefónica and Liberty Global will jointly contribute around 150 million pounds to finance the operation, while InfraVia will disburse approximately 850 million pounds.
The Board of Directors of Aena has approved the proposal for the Third Airport Regulation Document (DORA III) for the period 2027-2031, which contemplates a total investment of 12,888 million euros, of which 9,991 million correspond to regulated investment and, therefore, are included in the DORA 2027-2031. The plan, already sent to Civil Aviation and the CNMC, seeks to protect the security and capacity of Spanish airports to manage a forecast of 1,690 million passengers in the next five years.
In the recommendations section, Citi analysts have reviewed the target prices of CaixaBank, Banco Sabadell and Unicaja. They see the greatest potential in CaixaBank, almost 15%.
Enagás has announced that it will hold its Ordinary General Shareholders’ Meeting on March 26, on second call, in which it will propose the re-election as directors for a new statutory period of four years of its CEO, Arturo Gonzalo Aizpiri, and its president, Antonio Llardén.
Strong rebound in crude oil
In Europe, investors have had breakfast with the information about the Christine Lagarde’s future: he Financial Times points out that the president of the European Central Bank He could leave office before his term ends in October 2027-. At the closing of this Wednesday, the European stock markets also end the day motivated by purchases: The DAX added 1.06%, the FTSE gained 1.25%, the CAC 0.81% and the Euro Stoxx 50 advanced 1.34%.
At the opening of Wall Street today we have seen modest advances, but enough for the Dow Jones to chain its third consecutive session on the rise, getting closer and closer to recovering 50,000 points. Specifically, the DOW JONES rose 0.17% to 49,619.45 points, the S&P 500 advanced 0.20% to 6,853.76 points and the Nasdaq gained 0.20% to 222,622.75 points.
In commodity markets, oil futures prices they rise strongly after yesterday’s falls, while investors evaluate the evolution of the talks between Russia and Ukraine and between the US and Iran. Peace talks between Ukraine and Russia in Geneva have come to an abrupt end after just two hours of meeting, with Ukrainian President Volodymyr Zelenskiy accusing Russia of trying to deliberately delay progress towards a deal. Russia’s chief negotiator, Vladimir Medinsky, has promised that a new round of talks will be held soon. Meanwhile, Iran and the United States yesterday reached an understanding on the “guiding principles” in talks aimed at resolving their protracted nuclear dispute. However, this does not mean that an agreement is imminent, declared Iranian Foreign Minister Abbas Araqchi.
In this way, the crude Brent, reference in Europe, recorded 2.98%, up to $69.43, while the West Texas Intermediate rises 3.08% to $64.18 per barrel.
Los gold prices They rebound this Wednesday in a market with low liquidity, recovering from the one-week lows reached in the previous session. Spot gold advances 2.50% to $4,999 per ounce, after falling more than 2% yesterday, Tuesday.
For its part, Bitcoin is trading at $67,609, a little closer to a key support whose loss could be a source of further falls. Specifically, according to Sergio Avila, IG analyst, «the price of Bitcoin is forming a triangle within a bearish trend. The loss of the $67,200 area would be a sign of continuity of the corrective movement. In the monthly chart, bitcoin lost the 10-month average in October 2025 and, since then, different supports have been violated. The next relevant references are located at $58,800 and, subsequently, at «Therefore, if the level of $67,200 is lost in the coming days, it would not be ruled out to see additional falls in Bitcoin.»
Finally, in the currency section, the Euro presents a slight pattern of decreasing highs and moves at 1.1821 dollars, with subtractions of 0.27%.