Stock Markets November 12, 2026 12:08 PM

Madrid Stocks Close Lower; IBEX 35 Drops 0.31% as Financials and Telecoms Weigh

Broad declines in Financial Services & Real Estate, Telecoms & IT and Consumer Services lift losses across the benchmark

By Nina Shah
Share
Twitter Reddit Facebook LinkedIn
FER IDR

The IBEX 35 finished lower on Thursday, falling 0.31% as weakness in Financial Services & Real Estate, Telecoms & IT and Consumer Services pulled the market down. While a handful of large-cap names advanced, the session was dominated by marginally more decliners than advancers on the Madrid exchange. Energy markets and precious metals also moved, with gold posting a notable decline while crude and Brent rose.

Madrid Stocks Close Lower; IBEX 35 Drops 0.31% as Financials and Telecoms Weigh
FER IDR
Summarize with
ChatGPT Perplexity Claude Grok Gemini

Key Points

  • IBEX 35 closed down 0.31%, weighed by Financial Services & Real Estate, Telecoms & IT and Consumer Services.
  • Top performers included Naturgy (NTGY), Ferrovial (FER) and Grifols (GRLS); notable decliners included Indra (IDR), Banco Santander (SAN) and Solaria (SLRS).
  • Gold futures fell sharply while crude and Brent oil prices rose; US Dollar Index futures moved higher and EUR pairs were largely unchanged.

Spain's equity benchmark closed in negative territory on Thursday, with the IBEX 35 retreating 0.31% by the close of trade in Madrid. Losses were concentrated in Financial Services & Real Estate, Telecoms & IT and Consumer Services, which collectively contributed to the downbeat finish.

Among IBEX 35 constituents, the day's strongest performer was Naturgy Energy Group SA (BME:NTGY), which climbed 2.47% - a gain of 0.74 points - to finish at 30.66. Ferrovial (BME:FER) also posted gains, rising 1.94% or 1.06 points to close at 55.80, while Grifols SA (BME:GRLS) added 1.61% or 0.19 points to end the session at 11.67.

Conversely, the weakest shares included Indra A (BME:IDR), down 2.48% or 1.48 points to 58.20 at the close. Banco Santander (BME:SAN) retreated 1.88%, a decline of 0.21 points, finishing at 11.08, and Solaria Energia Y Medio Ambiente (BME:SLRS) slipped 1.36% or 0.23 points to close at 16.38.

Market breadth in Madrid showed slightly more falling names than rising ones: 96 stocks declined versus 90 that advanced, while 21 ended the day unchanged.

Commodities saw mixed movement. Gold Futures for December delivery fell sharply, down 3.07% or 122.98 to trade at $3,877.52 a troy ounce. In contrast, energy contracts moved higher: crude oil for December delivery rose 0.58% or 0.50 to $87.03 a barrel, and the January Brent oil contract gained 1.27% or 1.18 to end at $93.94 a barrel.

Foreign exchange rates were relatively stable. EUR/USD was reported unchanged at 1.11, and EUR/GBP was unchanged at 0.84. The US Dollar Index Futures was higher, up 0.27% to 103.09.


Session details - selected movers

  • Top gainers: Naturgy Energy Group SA (NTGY) +2.47%, Ferrovial (FER) +1.94%, Grifols SA (GRLS) +1.61%.
  • Top losers: Indra A (IDR) -2.48%, Banco Santander (SAN) -1.88%, Solaria Energia Y Medio Ambiente (SLRS) -1.36%.
  • Index close: IBEX 35 down 0.31% to 19,965.50.

The trading day reflected modest downside pressure on the benchmark, with individual sectors and large-cap components driving the move. Commodity and currency shifts added context to the session, with a marked drop in gold futures contrasting with modest gains in crude and Brent contracts.

Risks

  • Sector concentration risk - losses were led by Financial Services & Real Estate, Telecoms & IT and Consumer Services, which could pressure related portfolios and stocks in those sectors.
  • Commodity volatility - a pronounced drop in gold futures and rises in crude and Brent introduce commodity-related uncertainty for market participants.
  • Bank stock weakness - declines in large banking names such as Banco Santander may reflect or contribute to risk sentiment in the financial sector.

More from Stock Markets

White House Debates Commerce Secretary Howard Lutnick’s Future Amid Nvidia Spy Fallout Nov 12, 2026 Global Payments Shares Collapse After Private-Equity Talks Collapse Nov 12, 2026 Frasers’ David Epstein to Lead Hugo Boss as CEO Following Ownership Shift Nov 12, 2026 Nvidia CEO Exit Creates Opening for Google TPU Ecosystem, Analyst Says Nov 12, 2026 Union Pacific’s Fuel Surcharges Drive Quarterly Profit Gain While Rival BNSF Trails Nov 12, 2026