Stock Markets February 24, 2026

Madrid closes lower as IBEX 35 slips 0.54% with financials and telecoms under pressure

Endesa, Acciona and ACS post notable gains while banking and technology names weigh on the index

By Priya Menon
Madrid closes lower as IBEX 35 slips 0.54% with financials and telecoms under pressure

Spain's benchmark index ended Tuesday's session in negative territory, dragged down by losses in Financial Services & Real Estate, Telecoms & IT and Consumer Services. The IBEX 35 closed down 0.54% in Madrid, even as several large-cap utilities and industrials posted strong gains and hit multi-year or record highs.

Key Points

  • IBEX 35 closed down 0.54% at the Madrid session close, with Financial Services & Real Estate, Telecoms & IT and Consumer Services among the laggards.
  • Top gainers included Endesa (BME:ELE) +7.09% to 34.28, Acciona (BME:ANA) +3.21% to 202.60 and ACS (BME:ACS) +2.26% to 108.60; Endesa and ACS hit all-time highs while Acciona reached a three-year high.
  • Commodities and FX moved lower or were flat: April gold futures -1.08% to $5,169.05/oz, April crude -0.45% to $66.01/bbl, May Brent -0.37% to $70.85/bbl; EUR/USD 1.18 and US Dollar Index futures 97.70.

Spain's equity market finished lower on Tuesday, with the IBEX 35 retreating 0.54% at the Madrid close. Sector moves were uneven: Financial Services & Real Estate, Telecoms & IT and Consumer Services were among the groups that ended the session in the red.

At the session close the benchmark IBEX 35 registered a 0.54% decline.


Top and bottom movers

The leading advancers on the IBEX 35 were Endesa SA (BME:ELE), Acciona (BME:ANA) and ACS Actividades de Construccion y Servicios SA (BME:ACS). Endesa rose 7.09%, gaining 2.27 points to finish at 34.28. Acciona added 3.21%, or 6.30 points, to close at 202.60. ACS climbed 2.26%, or 2.40 points, to 108.60.

On the downside, Banco de Sabadell SA (BME:SABE) led losses, slipping 3.02% or 0.10 points to end at 3.24. Indra A (BME:IDR) fell 2.87%, a drop of 1.50 points to 50.85. Banco Santander (BME:SAN) declined 2.53%, or 0.28 points, to 10.65.


Market breadth and notable price records

Advancers outnumbered decliners on the Madrid Stock Exchange, with 107 stocks rising versus 81 falling; 18 issues finished unchanged. Several blue-chips reached milestone levels during the session: Endesa and ACS each recorded all-time highs, while Acciona reached a three-year high.


Commodities and currencies

Commodities traded lower in the session. Gold futures for April delivery fell 1.08%, down 56.55 to $5,169.05 a troy ounce. Crude oil for April delivery dropped 0.45% or 0.30 to $66.01 a barrel, while the May Brent contract retreated 0.37% or 0.26 to $70.85 a barrel.

In foreign exchange, the euro held largely steady. EUR/USD was effectively unchanged, moving 0.02% to 1.18, and EUR/GBP was listed as unchanged at 0.87, a 0.27% reading. The US Dollar Index futures inched up 0.06% to 97.70.


Takeaway

The session closed with the IBEX 35 lower, reflecting pockets of weakness in financial, telecom and consumer-service names even as utility and construction stocks produced outsized gains and record-level prints. Market breadth showed more rising than falling issues, underscoring mixed internal market dynamics.

Risks

  • Ongoing weakness in Financial Services & Real Estate, Telecoms & IT and Consumer Services could continue to exert downward pressure on the index - sectors implicated include banking, telecom operators and consumer-service companies.
  • Declines in key commodity prices, including gold and crude oil, may affect companies with commodity exposure and investor sentiment in related sectors - energy and materials are directly impacted.
  • Foreign exchange movements and a firmer US dollar, indicated by a modest rise in the US Dollar Index futures, could influence exporters and firms with currency-sensitive revenues - sectors such as industrials and multinationals may be affected.

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