A magnetoresistive device with a spin valve formed from a stack of layers
including at least two magnetic layers for which the relative orientation
of their magnetization directions can vary under the influence of a
magnetic field, and comprising means of circulating a current in the spin
valve transverse to the plane of the layers. The spin valve comprises at
least one discontinuous dielectric or semiconducting layer in the stack,
with electrically conducting bridges passing through the thickness of the
dielectric or semiconducting layer, these bridges being designed to
locally concentrate the current that passes transversely through the
stack. Application particularly suitable for magnetic read heads, and
random access memories.