PODCAST PREMIUM DIARIO DE MERCADOS Jueves 5 Febrero 2026

·40 min·3 clips

The European Central Bank and Bank of England meet today as the stock market turns 25, amid a brutal sectoral dichotomy.

1. Diario de Mercados covers global financial markets on Thursday February 5, 2026, coinciding with the ECB and Bank of England interest rate decisions. 2. The host presents solo, identifying himself as a fundamental analyst at Alphavalio who also manages the ValueTree European Equity portfolio. 3. The episode's core thesis is that a brutal sector bifurcation is dividing the market: momentum names in materials, banks, telecoms, and utilities are dramatically outperforming defensives like food, media, and software. 4. Basis Resource gained 16.82% year-to-date versus an average of 10.88%, illustrating a nearly 30-percentage-point performance gap across sectors in just a few months. 5. The ADP private employment report showed only 22,000 jobs created in January, below expectations, while the US service PMI came in at 53.8 — slightly below the prior reading. 6. Eurozone interannual inflation fell to 1.7% in January driven by lower energy costs, and eurozone service PMI dropped to 51.6%, the lowest since September 2025. 7. Gold traded near $4,908 per ounce while silver showed extreme volatility, having touched $90 per ounce before falling back to $79.50, with the host describing the swings as 'quite complicated.' 8. Alphabet reported Q4 sales growth of 19%, Google Cloud revenue of $17.66 billion (up 48% and above the $16.2 billion estimate), and a 2026 CAPEX provision of $175-185 billion versus the $119.5 billion consensus — which pressured sentiment despite strong underlying results. 9. Gemini reached 750 million monthly active users compared to ChatGPT's 850 million; the host argues Alphabet monetizes via advertising while ChatGPT lacks a stable revenue model. 10. Qualcomm fell 9.7% in aftermarket trading after fiscal Q2 sales guidance of $10.2-11 billion came in below the $11.18 billion consensus estimate. 11. Eli Lilly posted Q4 sales growth of 43%, BPA of $7.54 versus $5.32 the prior year, and annual guidance exceeding consensus, sending shares up 10.33% — a strong contrast to Novo Nordisk's repeated profit warnings. 12. BBVA reported net profit of €10,511 million, ROTE of 19.3%, net interest income of €703 billion (up 9.8%, well above forecast), dividend raised 31% to €0.60, and a €4,000 million buyback — total shareholder return of €9,200 million — yet shares fell 3.8%. 13. Shell disappointed relative to expectations in the oil sector, while Valero and Phillips 66 delivered strong refining results driven by Venezuelan heavy crude dynamics. 14. BNP Paribas published income growth of 8% and ROTE that the host described as 'very well,' rising 2.5% on the day. 15. The host flagged the Talgo-Indra-EME merger controversy in Spain, noting the government appeared to be signaling opposition due to overlapping interests involving Angel and Javier Escribano. 16. DS Norden, the Danish maritime transport company, fell 12.88% — consistent with the host's repeated caution about the broader logistics and transport sector. 17. The host's commentary tone is frank, personal, and at times humorous — including birthday remarks and a recurring 'hot and cold values' segment — rather than formal financial analysis. 18. The format is a solo daily briefing covering global macro, earnings flow, European equity updates, and the Alphavalio model portfolio in roughly 40 minutes. 19. Best suited for Spanish-speaking investors who track European and US equities and want a rapid, opinionated daily earnings digest. 20. Listeners seeking rigorous valuation models, sector-neutral commentary, or English-language content will likely find the format too casual or inaccessible.

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