Santander tops Inditex as Spain's most valuable company

Banco Santander, S.a

Yesterday 12:24

    June 19 (Reuters) - Santander SAN.MC has overtaken fashion giant Inditex ITX.MC to become Spain's most valuable listed company for the first time in eight years, lifted by a recent rally in banking shares.
The shift marks a milestone for the Spanish lender, which is already the most valuable bank in continental Europe. It also highlights investors' shift from consumer stocks to banks.
Santander's market capitalisation reached €175.9 billion ($201.5 billion) on Friday, compared with €174.4 billion for Zara owner Inditex, according to LSEG data.
Since the start of 2025, the bank's stock has risen about 172%, with Santander posting a record profit last year.
The lender's shares have risen about 18% year-to-date, while Inditex is little changed from December 31, despite a rebound over the past month. 
European banks have rallied of late as the European Central Bank raised interest rates and the European Commission prepares to relax cross-border capital flow rules and simplify capital frameworks.
Retailers such as Inditex have come under pressure this year from weaker consumer spending.
($1 = 0.8728 euros)

 (Reporting by Mireia Merino. Editing by Andrei Khalip and Mark Potter)
 ((Mireia.merino@thomsonreuters.com))