The Spanish stock market has made it clear in this Tuesday’s session that The scares of this 2026 are not a flower of a day, despite the four all-time highs that we already had in February, the abrupt movements, the bias changes and the fact that top stocks like ACS gain strongly one day and lose the same on the other, It is going to be the stock market sign of this year.
The best example, the minimized increases of the banks that dominated the market at mid-morning with the stock market leadership of Banco Santander.
One day too many, with an intraday record on account of the financial sector that has not been able to consolidate, which has given way to moderate cuts that have kept the Ibex 35 at a comfortable close, clearly marked by volatility, above the level of 18,100 points.
At closing, the IBEX 35 fell 0.4% to 18,122.10 points with the falls in values such as Mapfre 3.02%, Bankinter 2.76% and IAG (Iberia) 2.64% and the increases experienced by companies such as Solaria 3.19%, Cellnex 2.47% and Acciona Energías Renovables 2.15%.
Among the protagonists of the session, Telefónica, which almost repeated the closing opening price, after lsale of 100% of the capital of Telefónica Móviles Chile S.A. a NJJ Holding SAS y Millicom Spain S.L., for a total value close to 1,030 million euros.
The operation, signed and closed on the same day, includes a variable component that could increase its amount by an additional 150 million dollars, conditional on certain events in the competitive Chilean telecommunications market. An open epilogue that leaves room for future adjustments, but does not alter the direction of movement: Telefónica says goodbye definitively to the Andean country.
The board of directors of BBVA has agreed to call its Ordinary General Shareholders’ Meeting on March 20 on second call. On this day, the appointment of Jordi Montalbo as an independent director will be proposed, as reported to the CNMV. Likewise, the banking entity will propose the re-election of directors Sonia Dulá, Raúl Galamba, Ana Revenga as independent directors and Carlos Salazar as external director.
Also in the financial sector, Banco Santander plans a strong cut in expenses in its strategic plan, according to a publication Five Days. Meanwhile, the newspaper The Economist ensures that the entity will use the capital gains from Poland to pay 1,370 million in costs from Webster and TSB.
Meanwhile, Jefferies has raised CaixaBank’s target price to 13.20 euros per share, with an upside potential of 20%. On the other hand, Santander revises Grifols’ target price downwards, to 21.20 euros per share from the previous 22.20.
Also Grifols A and Santander’s downward outlook, while its analysts continue to overweight the value and place their revised target price downwards at 21.20 euros per share from the previous 22.20 for its shares. But despite the cut, it is the best recommendation that Grifols currently has, with a potential that exceeds 91% in the next 12 months. It is positioned as one of the values that rises the most in this session.
Once again, the market leader has been ArcelorMittal, the most bullish value in the Ibex 35 so far this year and which is moving upwards to continue being so.
In the Continuous Market, it must be taken into account that Aedas Homes has agreed to reorganize its board of directors by appointing Jordi Argemí, former deputy CEO and finance director of Neinor, as the new president of the company and Borja García-Egotxeaga, former CEO of Neinor, as CEO of Aedas, as reported to the CNMV.
Already in the rest of Europe, a mixed day, in the middle of the results season, today those of Barclaysdespite the improvement in its profit to 7,093 million euros, 16% more and distributing 17,000 million euros among its shareholders until 2028.
In the case of the also British BPthe fact of suspending the repurchase of shares has sunk the value by 7% despite the fact that its result at the end of 2025 grows at a rate of 5.4%.
The EURO STOXX 50 is down 0.21% to 6,046 points, the CAC 40 is up 0.06% to 8,327 points, the Dax retreats 0.01% to 25,001 points, and the session in London ends for el FT 100 with losses of 0.31% to 10,354 points.
And on Wall Street, widespread advances despite retail sales have been lower than expected, while the Dow Jones sits comfortably above 50,300 points.
Again with results of which we highlight two: Coca-Cola, which presented a profit of 2.27 billion dollars in the fourth quarter, or 53 cents per share, although adjusted profits reached 58 cents, above the 56 cents that the market had expected. Revenue rose 2% to $11.82 billion, below the expected $12.03 billion. Their cuts exceed 2.3%.
And CVS Health rises about 1% after despite maintain its 2026 revenue forecast at at least $400 billionwhen analysts had expected a figure of 409,770 million. This forecast overshadows a fourth quarter report that beats analysts’ expectations in both profits and revenues.
At the close of the Spanish stock market, the DOW JONES rose 0.42% to 50,345 points, the S&P 500 advanced 0.08% to 6,971 points and the Nasdaq gained 0.03% to 23,247 points.
Already in fixed income, general cuts in asset returns, which reach falls of 1.15% for the 10-year Spanish bond up to 3.174% while, the German bund places its yield at 2.8038% and drops 1.27. The risk premium fell 2.84% to 37 basis points.
In oil, price cuts. Specifically, the reference future in Europe, Brent falls 0.54% to $68.67 while West Texas places its price at $63.87 per barrel while losing 0.75%.
Meanwhile, Gold Futures are lower at $5,038 per ounce, after losing 0.8%.
The Euro Dollar, with hardly any movements with cuts of 0.04% to 1.1911 units. For its part, Bitcoin lost 1.19% and placed its price at $69,235 per asset.