The day of the three kings(El dia del tres reyes).Is on Jan 6th.(British twelfth night).When traditionally presents are exchanged.
Im sure there will be fireworks and plenty of parties.
Three kings aka the Magi from where we get the word Magician,A bit of useless info.

Hi the three kings travel through every town on 5th january-the fight for the sweets they throw needs to be seen to be believed.In fuengirola people start gathering about 6 and parade starts about 7-7.30.
Most places have special menus etc for New years Eve-the spanish tend to eat at home with family and meet in main square for midnight

Hi Christine.
Any parade or fireworks to celebrate El dia del tres reyes, usually takes place on the evening of the 5th Jan.......the 6th being a public holiday, is normally a very quiet day where the Spanish make this a " family" day and exchange presents over a meal.
As this is a National celebration, then it would be very unusual not to find a parade (and fireworks) not being performed.

Another bit of useless info
The word Magi comes from the plural word Magos, who were a caste of priests from the Medes tribe that read dreams and focused on the stars (astrologists)
As the wise men came from the East following the stars, hence the star of Bethlehem (and not Judea where Christ was born), then it was thought that they were wise priests who were Persian.

Later, someone referred to a sorcerer as a magi and then the word magican was formed, it was brought into the English language from old French text, but its origins refers to a person of priestly rank.
Sanji

Here you go...(this is Benidorm) but it will give you the idea of what to expect ...... and yes, those sweets don't half hurt when they hit you.

http://www.zippyvideos.com/9754273264181196/parade_part_1/

http://www.zippyvideos.com/8840692754185766/parade_part_2/

Sanjiiiiiiiiiiiiiiii