The Spanish stock market deflated this Tuesday despite marking its twelfth all-time high of the year. It has risen above 18,200 points intraday, but The loss of vigor in the revaluations of the large banks and the plummet of Unicaja, which presented results today, have pushed the levels back. Despite this, the Ibex 35 manages to surpass its 27th record since last October.
The IBEX 35 ends the session with increases of 0.02% to 18,119.20 points due to the increases in values such as MERLIN Properties 3.53%, Acerinox 2.47% and ArcelorMittal 1.95% compared to the cuts of companies such as Indra 8.45%, Amadeus 6.01% and Unicaja 4.91%.
Among the protagonists this Tuesday, Telefónica, for two reasons. On the one hand, given the prospects announced yesterday by its president, Marc Murtra, with investments of 32,000 million euros planned between 2026 and 2028 as part of a strategy to comprehensively transform the company and increase its competitiveness in the market.
Furthermore, according to the Financial Times, Telefónica and Liberty Global –co-owners of the VMO2 telecom in the United Kingdom–, together with InfraVia Capital, They finalize the acquisition of Netomnia, the fourth largest broadband network operator in the country, for around 2.3 billion euros. This will be the first major operation of Telefónica’s new strategic plan, which considers growth in its four strategic markets as a priority, that is, Spain, Germany, the United Kingdom and Brazil.
Punishment today for Repsol shares for two reasons. This Tuesday, the value received a recommendation cut by the JP Morgan analystswho have decided to leave their advice in ‘neutral‘, from the previous ‘overweight’. The cut is also accompanied by a snip in the target price, which goes from 18 euros to 17.50 euros per share.
Furthermore, the National Markets and Competition Commission (CNMC) has imposed fines totaling 20.5 million euros to several companies of the Repsol Group and has prohibited from participating in public contracts.
Regarding the presentation of results, with poor reading by the market, Unicaja registered a net profit of 632 million euros in 2025, compared to 573 million the previous year, which represents an increase of 10.3%. As reported by the entity, this result is supported by a robust interest margin of 1,495 million euros, as well as the growth in net commissions (2.8% year-on-year).
In addition, it proposes to distribute 70% of the net profit among shareholders, which increases the dividend by 29%.
Regarding recommendations, Deutsche Bank initiates coverage of ACS with a ‘hold’ advice and a target price of 86.7 euros. Barclays raises Aena’s target price to 25 euros per share, from the previous 24 euros, and JP Morgan raises Caixabank’s target price to 13 euros per share, from the previous 12.50.
In the rest of the European stock markets, we have seen that the EURO STOXX 50 lost 0.27% to 5,991 points, the CAC 40 fell 0.02% to 8,179 points, the Dax drops 0.10% to 24,760 points, and the session in London ends for el FT 100 with cuts of 0.28% to 10,312 points.
On Wall Street, a mixed session for indicators, with slight increases in the Dow Jones and declines in the S&P 500 and, to a greater extent, in Nasdaq.
Also with Spanish corporate prominence included in this session. PayPal has appointed the Spanish Enrique Lores, until now CEO of HP, as the new president and CEO of the American online payments company as of next March 1, thus replacing Alex Chriss in the position, as announced by the multinational. Lores, 60, had served as president and CEO of HP for more than six years.a position from which he has resigned.
And also change, with new cuts, within Walt Disney with the departure, the second remember of its CEO Bob Iger in March. Josh D’Amaropresident of Disney Experiences, will be the new CEO of the Mickey Mouse firm starting March 18.
And Walmart reaches a capitalization of 1 trillion dollars driven by the growth of e-commerce and new businesses. The retailer, which has tried to compete with Amazon by growing its digital business, joins a group made up primarily of technology companies and has courted higher-income shoppers during a period of high inflation in recent years, CNBC highlights.
At the close of the Spanish stock market, the DOW JONES Ind Average gained 0.08% and stood at 49,458 points, with an S&P 500 down 0.42% to 6,947 points and a Nasdaq OMX that fell 0.95% to 23,363 points.
If we look at fixed income, we find increases of 0.71% and profitability for the 10-year Spanish bond of 3.257%while the German bund places its yield at 2.8923% with an increase of 0.88%. The risk premium falls to 36.49 basis points, with a drop of 0.65%
Regarding oil, the bias changed to positive, with increases for barrel futures on both sides of the Atlantic. increases for him European Brent of just 0.84% up to 66.87 dollars and an American West Texas that gained 1.05% in price to 62.80 dollars a barrel.
Gold is once again rising strongly in the commodity markets, with a 6.76% rise in futures that skyrocket to $4,966 per ounce.
The Euro Dollar is trading with gains again for the single currency and weakness for the American greenback. At the close of the Spanish stock market it is exchanged at 1.1813 units.
Bitcoin retraces 1.6% cuts to $77,352 per asset.