Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking & Finance Review®

Global Banking & Finance Review® - Subscribe to our newsletter

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2026 GBAF Publications Ltd - All Rights Reserved. | Sitemap | Tags | Developed By eCorpIT

    Editorial & Advertiser disclosure

    Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Headlines > More storms coming as Leonardo swells rivers, bursts aquifers in Spain and Portugal
    Headlines

    More storms coming as Leonardo swells rivers, bursts aquifers in Spain and Portugal

    Published by Global Banking & Finance Review®

    Posted on February 6, 2026

    3 min read

    Last updated: February 6, 2026

    More storms coming as Leonardo swells rivers, bursts aquifers in Spain and Portugal - Headlines news and analysis from Global Banking & Finance Review
    Tags:insuranceeconomic growthfinancial stability

    Quick Summary

    Storm Leonardo causes evacuations and flood risks in Spain and Portugal, with significant economic impacts and extended state of calamity.

    Table of Contents

    • Impact of Severe Weather in Southern Europe
    • Evacuations and Flooding in Spain
    • Portugal's State of Calamity
    • Economic Consequences of the Storms

    Severe Weather Hits Spain and Portugal: Evacuations and Flood Risks

    Impact of Severe Weather in Southern Europe

    By Jon Nazca

    Evacuations and Flooding in Spain

    GRAZALEMA, Spain, Feb 6 (Reuters) - Authorities in southern Spain have evacuated residential areas out of fear a major river could overflow and warned of landslides caused by bursting aquifers on Friday after Storm Leonardo swept over the Iberian Peninsula.

    Portugal's State of Calamity

    Over 7,000 people have been forced to leave their homes in the Andalusia region so far amid a so-called "storm train" in which several consecutive storms have pounded Portugal and Spain with torrential rains and strong winds over the past weeks.

    Economic Consequences of the Storms

    State weather agency AEMET warned that another storm, Marta, would hit the peninsula on Saturday, bringing more abundant rainfall.

    Several residential areas near the Guadalquivir riverbed in Cordoba province were evacuated overnight due to the dramatic rise in water levels.

    Also evacuated were the approximately 1,500 residents of Grazalema, a mountain village popular with hikers, as water seeped through the walls of houses and cascaded along steep cobbled streets.

    Andalusia's regional leader, Juan Manuel Moreno, told radio station SER that aquifers in the Grazalema mountains were full and could provoke landslides due to pent-up pressure.

    "This could cause large holes or ditches. If this happens under a house or street, the result could be dramatic," Moreno said.

    He added geologists were assessing the situation in Grazalema to determine when residents would be able to return to their homes.

    The heavy rains are also impacting the olive harvest. Francisco Elvira, who leads farmers' association COAG in Jaen province, estimated losses worth 200 million euros ($236 million) so far.

    PORTUGAL EXTENDS CALAMITY STATE

    In Portugal's second-biggest city Porto, the River Douro overflowed in the early hours on Friday, causing minor flooding at riverside cafe terraces. In the country's south, large parts of the town of Alcacer do Sal by the River Sado remained semi-submerged for the third straight day.

    Prime Minister Luis Montenegro said late on Thursday his government had extended a state of calamity in 69 municipalities until mid-February, adding "unprecedented" rainfall and flood risks threatened several regions.

    The commander of Portugal's ANEPC civil protection service, Mario Silvestre, said six rivers - including the Tagus - were at risk of significant flooding.

    The Tagus river basin was placed on red alert on Thursday due to the abrupt rise in water flow.

    ($1 = 0.8482 euros)

    (Reporting by Paolo Laudani, Emma Pinedo, Sergio Goncalves and Andrei Khalip; Editing by David Latona and Peter Graff)

    Key Takeaways

    • •Storm Leonardo causes major flooding in Spain and Portugal.
    • •Over 7,000 people evacuated in Andalusia due to flood risks.
    • •Economic losses in olive harvest estimated at 200 million euros.
    • •Portugal extends state of calamity due to unprecedented rainfall.
    • •Geologists assess landslide risks in Grazalema mountains.

    Frequently Asked Questions about More storms coming as Leonardo swells rivers, bursts aquifers in Spain and Portugal

    1What is a state of calamity?

    A state of calamity is a legal declaration by authorities indicating that a region is facing a disaster, allowing for emergency measures and resources to be mobilized.

    2What are aquifers?

    Aquifers are underground layers of water-bearing rock or sediment that can store and transmit groundwater, often tapped for drinking water and irrigation.

    3What is economic impact?

    Economic impact refers to the effect of an event, policy, or disaster on the economy of a region, affecting factors like employment, income, and production.

    Why waste money on news and opinion when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Previous Headlines PostUS calls for new multilateral arms control agreement following new START expiry
    Next Headlines PostWorld food prices ease further in January, United Nations' FAO says
    More from Headlines

    Explore more articles in the Headlines category

    Image for Canada sends AIM missiles for Ukraine air defences, Ukrainian minister says
    Canada sends AIM missiles for Ukraine air defences, Ukrainian minister says
    Image for Pricier iPhones? Global memory chip crunch puts spotlight on Apple
    Pricier iPhones? Global memory chip crunch puts spotlight on Apple
    Image for Russian foreign minister accuses Ukraine of assassination attempt on top Russian general in Moscow
    Russian foreign minister accuses Ukraine of assassination attempt on top Russian general in Moscow
    Image for Sweden to make asylum seekers live in centres in further tightening of rules
    Sweden to make asylum seekers live in centres in further tightening of rules
    Image for TikTok hit with charges of breaching EU online content rules, app may have to change
    TikTok hit with charges of breaching EU online content rules, app may have to change
    Image for Explainer-Global carmakers book $55 billion hit from EV rollback
    Explainer-Global carmakers book $55 billion hit from EV rollback
    Image for Germany's Merz says EU willing to talk to Russia, but will not hold 'parallel' talks
    Germany's Merz says EU willing to talk to Russia, but will not hold 'parallel' talks
    Image for Olympics-Protesters rally in Milan against US ICE presence, school closures ahead of opening ceremony
    Olympics-Protesters rally in Milan against US ICE presence, school closures ahead of opening ceremony
    Image for UN Security Council to exempt sanctions on humanitarian aid for North Korea, source says
    UN Security Council to exempt sanctions on humanitarian aid for North Korea, source says
    Image for Suicide bomber kills 31 in Shi'ite mosque in Pakistan's capital, officials say
    Suicide bomber kills 31 in Shi'ite mosque in Pakistan's capital, officials say
    Image for Sanctions force Russia to dump naphtha into STS transfers and storage hubs, traders say
    Sanctions force Russia to dump naphtha into STS transfers and storage hubs, traders say
    Image for US calls for new multilateral arms control agreement following new START expiry
    US calls for new multilateral arms control agreement following new START expiry
    View All Headlines Posts