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We perform the fit of electroweak precision observables within the StandardModel with a 126 GeV Higgs boson, compare the results with the theoreticalpredictions and discuss the impact of recent experimental and theoreticalimprovements. We introduce New Physics contributions in a model-independent wayand fit for the S, T and U parameters, for the $\epsilon_{1,2,3,b}$ ones, formodified $Zb\bar{b}$ couplings and for a modified Higgs coupling to vectorbosons. We point out that composite Higgs models are very strongly constrained.Finally, we compute the bounds on dimension-six operators relevant for theelectroweak fit.

Electroweak Precision Observables, New Physics and the Nature of a 126 GeV Higgs Boson