Stock Markets March 12, 2026

Spanish equities retreat at close as IBEX 35 slips 1.22%

Financial services, consumer services and construction sectors weigh on market; energy names buck trend

By Hana Yamamoto ELE
Spanish equities retreat at close as IBEX 35 slips 1.22%
ELE

Spain's benchmark index closed lower on Thursday, with the IBEX 35 down 1.22% as losses in Financial Services & Real Estate, Consumer Services and Building & Construction outpaced gains. Energy and utilities names, including Repsol, Endesa and Iberdrola, finished higher while several banks and industrials led the declines. Market breadth favored decliners, and commodities and currency markets showed mixed moves.

Key Points

  • IBEX 35 closed down 1.22%, led by losses in Financial Services & Real Estate, Consumer Services and Building & Construction.
  • Energy and utilities outperformed: Repsol, Endesa and Iberdrola were among the session's best performers.
  • Market breadth favored decliners, with 140 stocks down, 54 up and 10 unchanged; commodities and FX showed mixed moves.

Spain's stock market finished the trading day in negative territory on Thursday, with the IBEX 35 ending the session down 1.22% in Madrid.

At close, declines were concentrated in the Financial Services & Real Estate, Consumer Services and Building & Construction sectors, which together contributed to the overall drop in the benchmark.

Top movers

  • Repsol (BME:REP) advanced 2.63% or 0.57 points to close at 22.27. The stock moved to 5-year highs during the session, finishing up 2.63% or 0.57 to 22.27.
  • Endesa SA (BME:ELE) rose 1.76% or 0.60 points, ending the day at 34.76.
  • Iberdrola (BME:IBE) added 1.72% or 0.33 points to finish at 19.54.

Heaviest declines

  • Unicaja Banco SA (BME:UNI) fell 4.56% or 0.12 points to close at 2.47.
  • Banco de Sabadell SA (BME:SABE) dropped 4.16% or 0.13 points to finish at 3.04.
  • ArcelorMittal SA (BME:MTS) lost 4.10% or 2.00 points to end at 46.74.

Market breadth in Madrid was tilted toward falling stocks, with 140 issues declining versus 54 advancing and 10 finishing unchanged.

Commodities and energy benchmarks

Gold Futures for April delivery was down 0.91% or 46.99 to $5,132.11 a troy ounce. In energy markets, Crude oil for delivery in April rose 8.88% or 7.75 to hit $95.00 a barrel, while the May Brent oil contract rose 8.22% or 7.56 to trade at $99.54 a barrel.

Currencies and indexes

EUR/USD was unchanged 0.31% to 1.15, while EUR/GBP unchanged 0.06% to 0.86. The US Dollar Index Futures was up 0.40% at 99.62.


These results leave the IBEX 35 lower on the day, with energy and utility names among the few pockets of strength while several banks and industrials recorded sizable losses.

Risks

  • Concentrated weakness in Financial Services & Real Estate and Building & Construction could increase volatility for bank and construction sector stocks.
  • Significant declines in individual lenders such as Unicaja Banco and Banco de Sabadell highlight exposure to sector-specific downside risk.
  • Large intraday moves in oil prices may introduce additional earnings and input-cost volatility for energy-linked sectors.

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