Stock Markets March 24, 2026

Madrid equities inch higher as IBEX 35 closes up 0.13% led by Puig and telecom names

Telecoms & IT, Chemical, Petroleum & Plastic and Consumer Services sectors underpin modest gains; oil climbs while gold slips

By Maya Rios
Madrid equities inch higher as IBEX 35 closes up 0.13% led by Puig and telecom names

Spanish equities finished modestly higher on Tuesday, with the IBEX 35 rising 0.13% as gains in Telecoms & IT, Chemical, Petroleum & Plastic and Consumer Services supported the market. Puig Brands SA posted the session's largest advance, while several major names including Indra A and Banco Santander ended lower. Commodity moves included notable rises in crude oil and a decline in gold futures.

Key Points

  • IBEX 35 closed up 0.13% with gains concentrated in Telecoms & IT, Chemical, Petroleum & Plastic and Consumer Services sectors.
  • Puig Brands SA led advances with a 13.42% gain and reached a 52-week high; Cellnex Telecom and Repsol also posted notable increases.
  • Crude oil showed significant upward moves (May crude to $93.10; June Brent to $100.48), while gold futures fell to $4,428.00 a troy ounce.

Spanish stocks closed with small gains on Tuesday as the IBEX 35 rose 0.13% at the Madrid session's end. Strength in the Telecoms & IT, Chemical, Petroleum & Plastic and Consumer Services sectors helped push the benchmark higher.

Among the IBEX 35 constituents, Puig Brands SA (BME:PUIGb) was the top performer, climbing 13.42% or 2.09 points to finish at 17.66. Cellnex Telecom SA (BME:CLNX) also advanced, adding 4.38% or 1.11 points to close at 26.48. Repsol (BME:REP) rose 3.48% or 0.79 points to end the session at 23.48.

On the downside, Indra A (BME:IDR) led decliners, falling 4.19% or 2.04 points to 46.64 at the close. Banco Santander (BME:SAN) dropped 1.36% or 0.13 points to 9.49, while International Consolidated Airlines Group S.A. (BME:ICAG) declined 1.03% or 0.04 points to 4.13.

Market breadth on the Madrid Stock Exchange showed more advancing issues than decliners, with 104 shares rising versus 74 falling and 31 finishing unchanged.

Puig Brands SA (BME:PUIGb) not only led the session in percentage terms but also moved to a 52-week high, closing up 13.42% or 2.09 points at 17.66.

Commodities trading featured mixed moves. Gold futures for June delivery slipped 0.26% or 11.50 to $4,428.00 a troy ounce. Oil markets saw stronger action: crude oil for May delivery increased 5.64% or 4.97 to reach $93.10 a barrel, while the June Brent contract climbed 4.75% or 4.56 to trade at $100.48 a barrel.

Foreign exchange and currency-related futures posted modest shifts. EUR/USD was unchanged 0.42% to 1.16, and EUR/GBP was unchanged 0.09% to 0.87. The US Dollar Index Futures was up 0.71% at 99.42.


Summary of session dynamics:

  • The IBEX 35 ended the day up 0.13%.
  • Leading sectors included Telecoms & IT, Chemical, Petroleum & Plastic and Consumer Services.
  • Top individual movers were Puig, Cellnex Telecom and Repsol on the upside; Indra A, Banco Santander and IAG on the downside.

These results reflect a market that produced selective stock-level gains amid notable commodity price swings, particularly in oil and gold.

Risks

  • Commodity price volatility - the sharp moves in crude oil and the decline in gold futures could introduce earnings and cost uncertainty for energy and commodity-linked companies.
  • Individual stock volatility - large percentage swings in names like Puig Brands SA and Indra A underscore idiosyncratic risks for investors in single equities.
  • Market breadth - although advancing issues outnumbered decliners (104 to 74), a relatively narrow distribution of gains may signal sector- or stock-specific drivers rather than broad-based market strength.

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