$IBE (+0,91 %)
$ITX (-0,93 %)
$VIS (+1,34 %)

From BBC:

US President Donald Trump and German Chancellor Friedrich Merz's White House news conference has now finished.

• On Spain, he says is "going to cut off all trade" with the country, adding that he has told Treasury Secretary Scott Bessent to "cut off all dealings"

If you ask yourself why… Here is why:

“Spain's prime minister says he's clear. Pedro Sanchez took to social media, proclaiming "one can be against a hateful regime, as is the case with the Iranian regime… and at the same time be against an unjustified, dangerous military intervention outside of international law".

A number of US aircraft left Spain on Monday after Madrid said those bases could not be used for attacks on Iran.”

Time to buy more i gues….

Source: https://www.bbc.com/news/articles/cn8z5zvlz5yo

$IBE (+0,91 %)

📊 Key Financial Metrics

• 🟢 EBITDA: €15,688M (+9.2% YoY).

• 🟢 Net Profit: €5,861M (+22% interannual on adjusted terms).

• 🟢 Gross Investment: €12,862M (+13% vs 2024).

• 🟢 Proposed Dividend: €0.617 per share (+14% increase).

🧱 Segment Breakdown (EBITDA)

• 🟢 Networks (Infrastructure): €7,973M (51% of total EBITDA).

• 🟢 Renewables: €5,148M (33% of total EBITDA).

• 🟡 Generation & Customers: €2,563M (16% of total EBITDA).

💰 Financial Health & Solvency

• 🟡 Net Financial Debt: €48,016M.

• 🟢 Net Debt / EBITDA Ratio: 3.06x (Significant improvement from 3.25x in 2024).

• 🟢 FFO (Operating Cash Flow): €11,902M (+13% growth).

• 🟢 Total Liquidity: €22,000M (Covers 21 months of financing needs).

🚀 Strategic Execution

• 🟢 Network Investment: 57% of total Capex (€7,375M) focused on US and UK grids.

• 🟢 Offshore Wind: €2,200M invested in Vineyard Wind 1 and Baltic Eagle projects.

• 🟢 Asset Base: Regulated Asset Base (RAB) grew 8% to €45.9B.

🔮 2026 Outlook

• 🟡 Net Profit Growth: Estimated at "mid-single digit" (approx. 5%).

• 🟢 Dividend Floor: Guaranteed minimum of €0.55/share for 2024-2026.

Summary:

Iberdrola is firing on all cylinders. The 22% jump in adjusted profit and the deleveraging trend (3.06x ratio) make this a "Sleep Well at Night" (SWAN) stock for your portfolio. The focus on Networks provides the regulated stability that balances the high-growth Capex in Offshore Wind.

We are almost at the mid-month mark, and the portfolio results are exceptional. Despite general market uncertainty, our strategy is paying off with a growth of +5.01%, bolstered by a strong push over the last few days.

🏆 Benchmark Challenge: 2026 Goals in Sight

As I previously shared, outperforming the major U.S. indices is one of my primary goals for 2026. Mid-January data confirms we are on the right track:

🟢 My eToro Portfolio (farlys): +5.01%

🔵 $SPX500: +1.66%

🟣 $NSDQ100: +2.04%

We are significantly beating Wall Street, currently trailing only the most volatile assets of the moment: $BTC (+3,54 %) (+7.85%), the Japanese $JPN225 (+7.12%), and $GOLD (+6.2%). As a reminder, I manage my Bitcoin exposure in a private portfolio outside of eToro for security, but its rally validates the return of a global "risk-on" sentiment.

🔥 What drove the push in the last few days?

This jump above 5% isn't accidental. Three key factors moved the market this week:

Rotation to Value and Europe: We've seen capital rotating out of "overcrowded" U.S. Tech names into sectors with stronger fundamentals. This favored our positions in $UCG (+1,31 %) (UniCredit Commercial Bank) (+1.16%), $BBVA (+1,03 %) (+1.14%), and $IBE (+0,91 %) (Iberdrola) (+1.29%), which offer solid dividends and more attractive valuations.

The Chinese Awakening: The Chinese tech sector received a fundamental boost from new government plans to integrate AI into manufacturing. This propelled $BABA (Alibaba-ADR) (+3.59%), which remains our main engine for the start of the year.

Macro Stability: Recent inflation data has reassured investors that central banks might not need to be more aggressive than expected, fueling the momentum for "risk-on" assets and discounted growth stocks.

🛠️ The Power of Rebalancing

These results are the direct outcome of the slight rebalancing performed at the beginning of January. Reducing weight in some U.S. tech giants that dominated 2025 (like $NVDA (+2,11 %) NVDA (NVIDIA Corporation) or $MSFT (+0 %) (Microsoft), which are currently flat or slightly red in our heatmap) to pivot toward the Asian recovery and European banking solidity has allowed us to capture this "extra-return" compared to general indices.

🎯 Outlook

Beating the $SPX500 and $NSDQ100 by about 3 percentage points in just two weeks is a perfect start to our annual goal. The road is long, but our geographic and sectoral diversification is proving to be our best compass for navigating 2026.

How is your year starting? Are you keeping up with the Gold/Nikkei rally or are you still heavily anchored to U.S. indices? Let me know in the comments! 👇

Cuando en febrero de 2024 decidí crear una nueva cartera desde cero, tenía claro que quería construirla con fundamentos y no con impulsos. En ese proceso, Iberdrola apareció casi de manera natural. No venía arrastrando posiciones antiguas ni inercias del pasado: fue una elección deliberada. Miré su precio, su capacidad de generar flujo estable y la forma en que la compañía equilibra crecimiento renovable con un negocio regulado robusto. Todo encajaba, y la valoración en ese momento me parecía razonable para una eléctrica con solidez demostrada.

Con los meses, la decisión ha ido tomando más sentido. La cotización no ha explotado ni ha protagonizado titulares estridentes, pero sí ha seguido un camino que valoro incluso más: el de la validación pausada. Iberdrola ha reforzado sus redes, ha ampliado capacidad renovable con disciplina y ha mantenido un nivel de deuda contenido, algo especialmente relevante en un entorno de tipos aún exigente. No necesitó reinventarse; simplemente siguió cumpliendo su plan.

Mi tesis inicial —la de una compañía predecible, eficiente y con suficiente visibilidad a medio plazo— no solo se mantiene, sino que se ha fortalecido. Iberdrola ha sabido absorber presiones regulatorias, gestionar costes y sostener sus márgenes sin comprometer su hoja de ruta. Y cuando un gigante del sector eléctrico sigue entregando resultados consistentes, el mercado tiende a corregir cualquier descuento inicial. Eso es justo lo que he visto desde que la incorporé a mi nueva cartera.

Hoy miro esa compra con la tranquilidad de haber construido una posición desde cero en un punto que, con perspectiva, ha demostrado ser acertado. Iberdrola no ofrece grandes sorpresas, pero sí un tipo de recompensa que valoro cada vez más: la de avanzar con firmeza, incluso cuando el mercado no mira. Y ese ritmo constante es, al final, lo que ha validado el precio al que decidí entrar.

En este punto, me planteo la posición con un enfoque flexible: mantenerla como un pilar estable de la cartera, pero sin descartar una ligera toma de beneficios si la acción entra en una fase de sobrevaloración clara. Aun así, el riesgo de quedarme fuera de un ciclo de crecimiento sostenido sigue ahí, porque Iberdrola tiene margen para seguir ampliando capacidad renovable y mejorando retornos en redes. Por eso, más que cerrar la puerta, prefiero ajustarla, dejando que la posición respire sin perder de vista que la compañía todavía tiene recorrido por delante.

Today's market is showing a mixed but generally positive tone across key sectors. While some tech giants are lagging, traditional finance, certain industrials, and defensive plays are showing strength, indicating a selective "risk-on" sentiment.

🇺🇸 US Equities (Pre-market/Early Trading)

$SPX500 — Trading solidly higher, driven by positive sentiment in various sectors, though tech is mixed.

$DJ30 — Moving up, reflecting broad positive sentiment.

$NSDQ100 — Showing mixed performance, with some mega-cap tech names under pressure.

💻 Tech & Growth Snapshot

A mixed picture in tech, with strong gains but also significant losses:

$NVDA (+2,11 %) — Trading slightly lower, indicating some profit-taking in the semiconductor space.

$GOOGL (+2,31 %) — Up strongly, showing robust performance in the mega-cap tech space.

$MSFT (+0 %) — Down significantly, acting as a drag on the overall tech sector.

$TSM (+3,17 %) — Up slightly, showing resilience in the chip sector.

$AVGO (+3,73 %) — Up strongly, participating in the semiconductor rally.

$RGTI (+3,61 %) — Up sharply, outperforming as some speculative growth names find renewed interest.

🛍️ Retail & Commerce

A strong day for retail and e-commerce, recovering from previous sessions:

$AMZN (-0,02 %) — Up, participating in the mega-cap rally.

$BABA (+1,69 %) — Up strongly, showing a significant rebound in the Chinese retail sector.

$SHOP (+1,89 %) — Up, showing positive momentum.

⚕️ Health & Pharmaceutical

A positive session for the health sector:

$INSM (+2,49 %) — Up, showing strength in biotech.

$HIMS (+41,84 %) — Up, indicating positive sentiment in health services.

🇪🇺 Europe & Industrials

European markets are generally positive, with strong performances in finance and defense:

STOXX 600 — Trading higher, led by a strong rally in the banking sector.

GER40 — Trading higher, reflecting the positive sentiment.

$LDO (+5,92 %) — Up strongly, the defense sector is showing significant strength.

$IBE (+0,91 %) — Trading slightly lower, utilities lag as investors move towards growth.

🏦 Banking & Finance

A very strong day for European financials, leading the overall market higher:

$BBVA (+1,03 %) — Up strongly, the Spanish bank is showing significant gains.

$UCG (+1,31 %) — Advancing higher, part of the strong European banking rally.

$ISP (+2,18 %) — Up strongly, showing clear outperformance.

$BPE (+1,9 %) — Surging higher, continuing its rally and leading the Italian banks.

$CE (-0,62 %) — Trading slightly lower, bucking the trend of other Italian banks.

$AXP (+1,34 %) / $V (-0,47 %) — Trading higher, the payments sector is positive.

🌏 Asia

Asian markets are expected to close mixed to positive, heavily impacted by the strong rebound in major Chinese names like $BABA.

💎 Commodities & Precious Metals

$GLD (-0,53 %) — Up strongly. Gold is showing significant strength today, reflecting renewed safe-haven demand or inflation concerns despite the broader mixed-to-positive equity market. I have strong, unwavering confidence in Gold as a core protective and strategic asset for the long term.

$CDE (+0,2 %) — Up strongly, mirroring gold's positive direction.

💰 Crypto

$BTC (+3,54 %) / $ETH (+3,73 %) / $TRX (-1,73 %) — Likely moving lower, following the general risk-on mood.

🔎 Deep Dive: Sector Rotation and Resilience

Today's market highlights a clear sector rotation. Investors are re-engaging with European financials and select tech names, while taking profits in others. The strong rebound in $BABA suggests a renewed, albeit cautious, appetite for growth. The strength in Gold ($GLD) alongside some equity gains is particularly noteworthy, indicating a complex sentiment where both risk-taking and wealth preservation are at play.

Follow the Analysis:

For daily real-time market insights, deep dives, and trading discussions, follow me on X: https://x.com/ThomasVioli

To copy my portfolio, strategies, and complete trade insights, you can follow me on eToro: https://www.eToro.com/people/farlys

⚠️ Disclaimer: Past performance is not indicative of future results. Investing involves risks, including the loss of capital.

The week kicks off with a strong, but highly selective, risk-on rally. Markets are piling into quality Tech and European Financials, while simultaneously selling off Chinese retail and speculative growth names.

🇺🇸 US Equities (Pre-market/Early Trading)

$SPX500 — Trading solidly higher, driven by strong performance in Tech and Financials.

$DJ30 — Moving up, following the broad positive sentiment.

$NSDQ100 — Leading the gains, as major tech components are firmly in the green.

💻 Tech & Growth Snapshot

$NVDA (+2,11 %) — Advancing higher, leading the AI and semiconductor space.

$GOOGL (+2,31 %) — Moving up, showing solid strength in the mega-cap tech space.

$AVGO (+3,73 %) — Up moderately, participating in the semiconductor rally.

$META (+0,43 %) — Showing strong gains, continuing its upward momentum.

$MSFT (+0 %) — Up slightly, tracking the positive tech trend.

$TSM (+3,17 %) — Up slightly, showing resilience in the chip sector.

$RR. (-1,9 %) — Up moderately, the industrial/aerospace stock shows strength.

$RKLB (+1,66 %) — Down slightly, underperforming as speculative growth faces pressure.

$RGTI (+3,61 %) — Down sharply, quantum stocks are experiencing significant selling.

🛍️ Retail & Commerce

$AMZN (-0,02 %) — Up moderately, participating in the mega-cap rally.

$BABA (+1,69 %) — Falling sharply, the main source of weakness in the market today, dragging down the retail sector.

$CVNA (+2,86 %) — Up moderately, recovering some ground.

$SHOP (+1,89 %) — Down moderately, likely pulled down by the negative sentiment from $BABA$.

⚕️ Health & Pharmaceutical

$LLY (+1,72 %) — Likely flat or slightly down, as investors rotate out of defensive pharma names.

$HIMS (+41,84 %) — Holding steady, showing no significant price change.

$INSM (+2,49 %) — Flat, the biotech sector remains cautious.

🇪🇺 Europe & Industrials

STOXX 600 — Trading higher, led by a strong rally in the banking sector.

GER40 — Trading cautiously higher, reflecting the positive sentiment.

$LDO (+5,92 %) — Up strongly, the defense sector is showing significant strength.

$IBE (+0,91 %) — Down slightly, utilities lag as investors move away from defensive assets.

$OKLO — Holding steady, the nuclear tech stock is flat.

$CS (-0,74 %) — Up moderately, joining the rally in European financials.

🏦 Banking & Finance

$UCG (+1,31 %) — Advancing higher, part of the strong European banking rally.

$ISP (+2,18 %) — Up strongly, showing clear outperformance.

$BPE (+1,9 %) — Surging higher, continuing its massive rally and leading the Italian banks.

$CE (-0,62 %) — Up strongly, another standout performer in the Italian banking sector.

$BBVA (+1,03 %) — Up strongly, the Spanish bank is showing significant gains.

$AXP (+1,34 %) — Up moderately, the payments sector is positive.

$V (-0,47 %) — Down slightly, counter-trending the financial sector's strength.

🌏 Asia

$JPN225 / $KOSPI / $HK50 / $CHINA50$ — Likely closed mixed to negative, heavily impacted by the sharp sell-off in $BABA$.

_p_ Forex

$DXY — The Dollar Index is trading loweras risk appetite favors other currencies.

$EURUSD — Moving higheragainst a weaker Dollar.

$USDJPY — Drifting loweras the Yen gains some ground.

💎 Commodities & Precious Metals

$GLD (-0,53 %) — Holding steady, gold is flat as investors move into equities rather than safe havens.

$CDE (+0,2 %) — Flat, mirroring gold's lack of direction.

$BRENT / $WTI — Likely trading higheron risk-onsentiment and a weaker Dollar.

💰 Crypto

$BTC (+3,54 %) / $ETH (+3,73 %) — Likely moving higher, following the Nasdaq and the risk-onmood.

$TRX (-1,73 %) — Down slightly, underperforming the broader crypto sentiment.

$CRO (+1,01 %) — Not shown, likely tracking the positive risk-ontrend.

📈 Benchmark ETFs

$VOO (+0,5 %) / $VGT (+1,44 %) / $CNDX — Holding steady (from image), but the underlying components signal they are trading higher.

$BND (+0,09 %) — Flat, as bond yields likely rise (prices fall) in a risk-onmove.

🔎 Deep Dive: The "Quality Growth" Rally

Today is a "flight to quality growth." The market is not buying everything; it is highly selective. There is clear strength in established Tech ($NVDA, $GOOGL) and a massive rally in European Banks ($BPE.MI, $BBVA.MC). However, there is clear weakness in Chinese Retail ($BABA, $SHOP) and speculative Tech ($RGTI, $RKLB). This divergence signals that investors are willing to take risks, but only on assets with strong fundamentals or clear momentum, while dumping assets exposed to Chinese macro or high speculation.

Follow the Analysis:

For daily real-time market insights, deep dives, and trading discussions, follow me on X: https://x.com/ThomasVioli

To copy my portfolio, strategies, and complete trade insights, you can follow me on eToro: https://www.eToro.com/people/farlys

⚠️ Disclaimer:Past performance is not indicative of future results. Investing involves risks, including the loss of capital.

It's the last day of the month, and the market is exploding higher, in a strong risk-onmove driven by a series of stellar earnings in the Tech sector. The day is dominated by impressive rallies, although key divergences remain.

🇺🇸 US Equities (Pre-market/Open)

$SPX500 — Futures are moving decidedly higher, driven by the Mega-Cap rally.

$DJ30 — Up, as positive sentiment spreads.

$NSDQ100 — In a strong rally, the index is being pulled higher by $AMZN$ and $GOOGL$.

💻 Tech & Growth Snapshot

$NVDA (+2,11 %) — In a solid rise, the stock is outperforming and leading the AI sector.

$GOOGL (+2,31 %) — Rallying strongly, the market reacts with euphoria to its earnings, pushing the stock higher.

$AVGO (+3,73 %) — Slightly down, counter-trending the sector, showing weakness.

$META (+0,43 %) — Up, the stock is recovering lost ground and joining the positive sentiment.

$MSFT (+0 %) — Slightly up, attempting a modest recovery along with the Nasdaq rally.

$TSM (+3,17 %) — Slightly up, showing resilience in the chip sector.

$RR. (-1,9 %) — Slightly down, the industrial/aerospace sector is weak.

$RKLB (+1,66 %) — Slightly up, showing cautious optimism in the new techspace.

$RGTI (+3,61 %) — Up, the quantum sector follows the speculative sentiment.

🛍️ Retail & Commerce

$AMZN (-0,02 %) — Exploding higher, the stock is dominating the market with an impressive rally, clearly following earnings that beat all expectations.

$BABA (+1,69 %) — Falling sharply, continuing its negative performance, crashing against the US tech trend.

$CVNA (+2,86 %) — Up, the stock is participating in the risk-onmove and recovering ground.

$SHOP (+1,89 %) — Stable, failing to benefit from the $AMZN rally.

⚕️ Health & Pharmaceutical

$LLY (+1,72 %) — Slightly down, the defensive Pharma sector is being sold as capital rotates into Tech.

$HIMS (+41,84 %) — Stable, awaiting catalysts.

$INSM (+2,49 %) — Stable, the biotech sector is flat.

🇪🇺 Europe & Industrials

STOXX 600 — Mixed, Europe is not fully participating in the US rally.

GER40 — Mixed/Slightly down, reflecting uncertainty.

$LDO (+5,92 %) — Slightly up, the defense sector shows some strength.

$IBE (+0,91 %) — Slightly up, utilities are stable/positive.

$OKLO — Stable, the nuclear stock is flat.

$CS (-0,74 %) — Down, the European financial sector is weak.

🏦 Banking & Finance

$UCG (+1,31 %) — Slightly up, the Italian banking sector is mixed.

$ISP (+2,18 %) — Slightly up, showing modest strength.

$BPE (+1,9 %) — Solidly up, continuing its outperformance and positive trend.

$CE (-0,62 %) Up, another strong performer in Italian banking.

$BBVA (+1,03 %) — Up, the Spanish bank is recovering ground.

$AXP (+1,34 %) — Slightly down, the payments sector is weak.

$V (-0,47 %) — Down, following the weakness in $AXP$.

🌏 Asia

$JPN225 / $KOSPI / $HK50 / $CHINA50 — Closed mixed/negative, weighed down by weakness in Chinese stocks ($BABA$).

💱 Forex

$DXY — The Dollar Index is stable/slightly down, reflecting the conflicting sentiment.

$EURUSD — Stable/Slightly upagainst a weaker Dollar.

$USDJPY — Stable.

💎 Commodities & Precious Metals

$GLD (-0,53 %) — Stable, gold is flat, not benefiting from the defensive sell-off or the tech risk-on.

$CDE (+0,2 %) — Stable, following gold.

$BRENT / $WTI — Down, oil is dropping due to demand fears (e.g., $BABA data).

💰 Crypto

$BTC (+3,54 %) / $ETH (+3,73 %) — Up, crypto is following the risk-onrally led by $AMZN and $GOOGL.

$TRX (-1,73 %) — Up, the altcoin sector is participating in the positive sentiment.

$CRO (+1,01 %) — Up, in line with the sector.

📈 Benchmark ETFs

$VOO (+0,5 %) / $VGT (+1,44 %) / $CNDX — The real sentiment is being pulled higher by their main components.

$BND (+0,09 %) — Stable, investors are also looking for safety in bonds.

🔎 Deep Dive: The Great Earnings Divergence

Today is the definition of a "stock market," not a "market of stocks." There is no single sentiment. Quarterly results are creating massive divergences:

1. The Winners: $AMZN (-0,02 %) and $GOOGL (+2,31 %) are on fire, saving the $NSDQ100 single-handedly.

2. The Losers: $BABA (+1,69 %) is collapsing, signaling weakness in Chinese and speculative retail.

3. The Isolated Strong:Italian banks ($BPE (+1,9 %) , $CE (-0,62 %) ) and $BBVA (+1,03 %) continue to outperform.

4. The Defensives:Gold ($GLD (-0,53 %) ) is flat, while Pharma ($LLY (+1,72 %) ) and European financials ($CS (-0,74 %)

) are weak.

Follow the Analysis:

For daily real-time market insights, deep dives, and trading discussions, follow me on X: https://x.com/ThomasVioli

To copy my portfolio, strategies, and complete trade insights, you can follow me on eToro: https://www.eToro.com/people/farlys

⚠️ Disclaimer:Past performance is not indicative of future results. Investing involves risks, including the loss of capital.