Santander tops Inditex as Spain's most valuable company

June 19 (Reuters) - Santander has overtaken fashion giant Inditex 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)