The Spanish stock market shines again, with the slow but more than defined pace that it continues to mark, as if it were a continuation of 2025. The gains are prolonged although it is also true that without significant strength, but the truth is that the selective, at the close of today marks its seventh annual high, the twenty-second since last October.
And all this with a 2026 of which only ten stock market sessions have been completed. On a day in which the ruling of the American Supreme Court on tariffs was expected, which has not occurred, with rulings on other matters, and while the conflict between the United States and Europe grows in intensity, in the case of Greenland and with Iran.
The IBEX 35 closed the session with advances of 0.05% to 17,695 points with the increases in values such as Grifols A 7.01%, Repsol 3.24% and Enagás 2.32% and the falls experienced by Banco Sabadell 2.31%, Acciona Energías Renovables 2.15% and Amadeus 1.63%. Seventh annual maximum.
In terms of news, Grifols A in the spotlight, while the run of a potential takeover bid returns, if you remember it did not take place, by the Canadian infrastructure fund Brookfield that would improve the supposedly previous offer up to 7,000 million, although as we say, it never came to fruition.
Repsol is also a protagonist, strengthening itself in the North Sea and will operate two new exploration licenses in Norway, the same media also points out.
For his part, the president of Iberdrola, Ignacio Galanhas participated in the ‘Abu Dhabi Sustainability Week’, the largest summit in the Middle East and North Africa on energy and sustainable development, attended by political, business and social leaders from around the world. The Spanish businessman has valued electrification as the best way to have more stable energy prices, more employment and greater sustainability.
Mapfre has closed the placement of a 1,000 million euro bond in two tranches with a maturity period of 6 and 10 years and with prices below that initially offered due to high demand.
Investors also continue to monitor the situation in Venezuela after the overthrow of Nicolás Maduro, since several Spanish companies have interests in the Caribbean country. According to publication Five DaysIberia (IAG), Air Europa and Plus Ultra hope to return to Venezuela at the beginning of February. The Economist points out that Telefónica is looking for a way to repatriate 20 years of profits blocked in Venezuela.
In the Continuous Market, Tubacex reports a negative impact of 46 million euros on its 2025 results due to voluntary and non-recurring accounting adjustments and loses more than 7% intraday, somewhat corrected at closing.
In the analysts’ recommendations, Morgan Stanley raises Inditex’s target price to 52.50 euros per share, from the previous 48 euros, although it is 8% below from yesterday’s closing. Better news for ArcelorMittal, which sees how Jefferies improves the target price to 44 euros per share, from the previous 36 euros, with a 6.5% upside potential.
Also IAG (Iberia with the support that Santander provides it today. The firm overweights the stock market value with a target price expectation of 5.9 euros per share. This OP means raising the possible upward progression of a value that, in addition, does not have sales advice to 25.37%.
In addition, Iberdrola prevails in the Ibex 35 after the improvements in valuation of today’s energy sector. The latest reviews from JB Capital Markets and Barclays rearrange the attractiveness of the Ibex 35 energy companies and place Iberdrola as the sector’s big favorite, with double-digit upside potential, while Endesa and Naturgy are beginning to show signs of exhaustion after a year of strong revaluations.
Regarding Telefónica, Goldman Sachs gives it a potential of 30% up to 4.5 euros per share. Of course, he expects a greater revaluation in the British BT (65%) and Deutsche Telekom (47%).
Already in the rest of Europe, the EURO STOXX 50 lost 0.45% to 6,002 points, the CAC 40 fell 0.19% to 8,330 points, the Dax loses 0.54% to 25,274 points and the FT 100 rises at today’s close 0.33% to 10,171 points.
And on Wall Street, cuts for investors with several geopolitical fronts and an eye on macro data and waiting for the Supreme Court, from which a decision has been expected since last week, to rule on the viability or not, and it is expected that it will not, of the tariffs implemented by Trump last April.
Furthermore, the macro data has not convinced the market, pending the meeting that begins between those responsible for Greenland and the vice president of the United States, JD Vance, and the secretary of state and national security advisor, Marco Rubio, while Trump is influencing the conflict, indicating on his social network that anything short of taking over the largest island in the world is unacceptable.
All this while evacuates part of its staff at its base in Qatar, in the face of Iranian threats of attack if the United States attacks the country in the face of citizen protests and the thousands of deaths recorded throughout the state of the ayatollahs.
Today again with cuts in the banks that have presented results: Bank of America. The second largest US bank has put on the table a 12% increase in profits to $7.6 billion, or 98 cents per share, while revenue rose 7.1% to $28.53 billion, thanks to an increase in net interest income.
Citigroup also beats forecasts, with adjusted earnings of $1.81 per share, compared to the $1.67 that analysts had anticipated. Revenue reached $21 billion, compared to the expected $20.72 billion.
Falls of 2.7% for Wells Fargo after disappointing with its income figures. The entity posted a profit of $5.4 billion in the fourth quarter, or $1.62 per share, while gross income stood at $21.292 billion, below analysts’ estimate of $21.65 billion.
At the close of the Spanish session, the DOW JONES fell 0.57% to 48,909 points, the S&P 500 fell 0.99% to 6,894 points and the Nasdaq OMX fell 1.48% to 23,357 points.
In the rest of the market, we start with the fixed income market, with cuts in the 10-year Spanish bond, from 0.68% to 3.226% while in the case of the German bund, there are decreases of 1.03% to 2.7841%. The risk premium rises 0.09% and corrects to 44.27 basic points.
In raw materials, oil rises again, looking at Iran with the future of the Brent barrel that advances to 66.08 dollars, from 0.93 while West Texas places its price at $61.67, and gains 0.67%.
Furthermore, OPEC, looking to 2027, publishes its first appreciation of demand and expects it to rise slightly in the next year.
Gold appreciates again on its way to highs again. It exceeds $4.623 per ounce with a rise of 0.52%.
Bitcoin now shoots up 4.27% to $97,388. Finally, in the Euro Dollar relationship with a rise for the single currency of 0.14% to 1.1659 units.