Stock Markets March 2, 2026

Madrid Stocks Slip as IBEX 35 Closes Down 2.62%

Consumer Goods, Financial Services & Real Estate and Consumer Services weigh on market; Repsol posts strongest gains

By Sofia Navarro SAN
Madrid Stocks Slip as IBEX 35 Closes Down 2.62%
SAN

Spanish equities declined at Monday's close, with the benchmark IBEX 35 dropping 2.62% as losses in Consumer Goods, Financial Services & Real Estate and Consumer Services dominated trading. Repsol led gainers while several major names including Inditex and Banco Santander were among the weakest performers. Commodity and currency moves accompanied the market swing.

Key Points

  • IBEX 35 closed down 2.62% as losses in Consumer Goods, Financial Services & Real Estate and Consumer Services weighed on the market.
  • Repsol (BME:REP) led the session’s gainers, rising 5.60% to 20.08 and reaching 5-year highs, while Inditex (BME:ITX), Banco Santander (BME:SAN) and IAG (BME:ICAG) were among the largest decliners.
  • Commodities and FX moved notably: Gold futures rose 1.29% to $5,315.74 per troy ounce, April crude oil increased to $70.73 a barrel, Brent to $77.28, EUR/USD fell to 1.17 and the US Dollar Index Futures climbed to 98.51.

Spain's equity market ended the trading day lower on Monday, with the IBEX 35 falling 2.62% at the close in Madrid as declines in several sectors pushed the index down.

The sectors most responsible for the downward pressure were Consumer Goods, Financial Services & Real Estate and Consumer Services. Overall, decliners outnumbered advancers by 168 to 34, while 12 stocks finished unchanged on the Madrid Stock Exchange.

Winners and losers

At the top of the IBEX 35 leaderboard, Repsol (BME:REP) gained 5.60%, rising by 1.07 points to finish at 20.08. The company’s shares reached 5-year highs during the session.

Naturgy Energy Group SA (BME:NTGY) added 1.37%, an increase of 0.36 points, to close at 26.70. Cellnex Telecom SA (BME:CLNX) also finished higher, up 1.06% or 0.34 points to 32.48.

Among the weakest performers, Industria de Diseno Textil SA (BME:ITX) led losses, falling 4.86% or 2.76 points to end at 54.06. Banco Santander (BME:SAN) declined 4.84%, a drop of 0.52 points, to close at 10.27. International Consolidated Airlines Group S.A. (BME:ICAG) was down 4.72% or 0.23 points to 4.60.

Commodities and currencies

In commodity markets, Gold Futures for April delivery rose 1.29%, an increase of 67.84, to $5,315.74 a troy ounce. Crude oil for April delivery climbed 5.54% or 3.71 to $70.73 a barrel, while the May Brent oil contract advanced 6.05% or 4.41 to trade at $77.28 a barrel.

On the foreign exchange front, EUR/USD traded lower by 0.98% to 1.17, while EUR/GBP was effectively unchanged at 0.87, a movement of 0.37%. The US Dollar Index Futures rose 0.97% to 98.51.

Market context and note

The market move left the IBEX 35 down for the session as investors contended with broad sector weakness. The trading day showed a clear division between a small group of gainers led by energy and utilities names and a larger set of declines concentrated in consumer and financial-related stocks.

Separately, a promotional note in the trading bulletin referenced InvestingPro+ and an AI tool called WarrenAI as services that combine institutional-grade data with AI-driven insights; the note emphasized that such tools do not guarantee winners but aim to surface more investment opportunities.


This report summarizes market performance at the close in Madrid and records key moves in equities, commodities and currencies for the session.

Risks

  • Sector concentration of losses - Consumer Goods, Financial Services & Real Estate and Consumer Services underperformed, posing downside risk to the broader index.
  • Market breadth was weak with 168 decliners versus 34 advancers, indicating potential continued selling pressure across Madrid-listed stocks.
  • Volatility in commodities and currencies - notable moves in gold, oil and the US dollar may introduce earnings and valuation uncertainty for energy, materials and export-exposed companies.

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