Investors see how the sum of factors does not alter the product. That is to say, if someone were to come to the Spanish stock market again, they would see that today’s session closes with slight gains that lead the Ibex 35 to barely set new all-time highs, the fifth so far this year and therefore in the month of January and only in seven sessions.
But if you have followed the session you see that everything has been more than complicated in the Spanish selective. The first, the opening and the first steps, characterized by drops in amounts that at times have approached the point and a half percentage of correction. The geopolitical conflict, with derivatives such as Greenland and Trump’s confrontation with Europe, or Iran and the White House’s support for the ancient Persian monarchy, Given the great conflict in the country due to inflation, which is increasing in scale, this is just the beginning.
Because in the early hours of the morning some of the fears most expressed by managers at the end of last year became evident: the possibility that Trump’s alleged interference in the autonomous United States Federal Reserve would become a reality. And they have been, after the president of the Fed, Jerome Powell, confirmed that the US prosecutor’s office has opened proceedings against him for allegedly lying last summer before Congress regarding the renovations to the Federal Reserve buildings.
Behind, the hand of Trump and his pressure on Powell and the Fed to lower interest rates further to reactivate the economy, something that the Federal Reserve does not want to do given the pressure of inflation due to the tariffs imposed by Trump. And let us remember that Powell will remain in office until May.
The last three Fed presidents, Yellen, Bernanke and Greenspan have already come out in defense of the autonomy of the institution and the work of the members of the Fed Open Market Committee.
All of this has marked a day of absolute volatility in the Spanish indicator, which, however, from less to more has settled, although with a difference of 290 points, in opening levels.
The IBEX 35 closes the session with gains of 0.14% to 17,673.80 points with increases in values such as ArcelorMittal 1.86%, MERLIN Properties 1.85% and ACS 1.53% and falls experienced by companies such as IAG (Iberia) 3.05% and Solaria 2.69% and Grifols A 2.68%, .
Among the protagonists, one more day in the face of global conflict, Indra, again with duality in its recommendations. Morgan Stanley, on the one hand, lowers its recommendation to the same as the market from the previous one of overweighting its shares and, on the other, raises the target price to 60 euros per share, from the previous 47. The best that equals the OP that Goldman Sachs already set last November.
Furthermore, investors continue to pay attention to Repsol in the face of the new political scenario in Venezuela. Last Friday, US President Donald Trump held a meeting with representatives of the major oil companies in which the CEO of Repsol, Josu Jon Imaz, told him that the Spanish company is ready to triple oil production in Venezuela in the coming years, while showing its commitment to investing “substantially” in the country.
Of course, in exchange, as the US oil companies also indicated, relevant legal security to operate, in the face of potential future nationalizations.
Furthermore, the value gained positions today, 1% at the close, although it is listed at a lower price after deducting the 50 cents in price from its dividend which will be paid next Thursday.
During this weekend, Iberdrola announced that, through its subsidiary Neoenergia, it has completed the energization of the last section of the Alto Paranaíba project, thus marking the completion of the works of one of the largest electric transportation initiatives in Brazil. The works were completed more than 15 months in advance of the deadline established by Aneel and required an investment of close to 4.2 billion reais (around 669 million euros).
ACS and GIP create a 50/50 joint venture for data centers, according to the agency Reuters and the value is positioned as the best of the day, once again, one more day Florentino Pérez’s company breaking highs.
All this in addition to the change in bias of banking values while today we wonder if Banco Santander or BBVA will be the winners in the sector at the beginning of 2026.
Already in the rest of Europe, the EURO STOXX 50 rose 0.32% to 6,016 points, the CAC 40 fell 0.04% to 8,358 points, the Dax gana 0.61% to 25,424 points and the FT 100 rises at the close of Friday 0.14% to 10,138 points.
Already on Wall Street, a mixed session that improves as the session progresses, given the general support for the Fed as an independent institution against Trump.
In news, Meta Platforms has announced the appointment of Dina Powell McCormick as president and number 2 of the company. Powell McCormick had joined Meta’s board in April but resigned in December, according to an SEC filing. In his new role, he will be part of the company’s management team and will help guide its strategy and execution. Let’s remember that she is a former Trump advisor.
Alphabet-A is also making market news with a stock valuation of $4 trillion, as Google’s parent company’s increased focus on artificial intelligence dispelled doubts about its strategy and returned it to the forefront of the high-stakes race.
Google’s parent company already surpassed Apple last Wednesday for the first time since 2019, becoming the second most valuable company in the world.
At the close of the Spanish session, the DOW JONES fell 0.2% to 49,414 points, the S&P 500 opened at 6,966 points and the Nasdaq OMX advanced 0.15% to 23,708 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 3.231% while in the case of the German bund, there are decreases of 0.83% to 2.8015%. The risk premium rises 0.68% and corrects to 42.633 basic points.
In raw materials, oil with increases this session, with cuts of 2% for the future of the Brent barrel that presents advances of 0.68% to 63.68 dollarswhile West Texas places its price at $59.37, and gains 0.64%.
Gold with more than significant increases than the one placed again, with the global conflict in the background, with increases of 3% to new historical highs at $4,638 per ounce.
Now Bitcoin, again with significant cuts that exceed 2.55% to $91,770 per asset. Finally, in the Euro Dollar relationship, gains for the single currency with advances of 0.33% to 1.1676 units.