Stock Markets March 23, 2026

Madrid Stocks Close Higher as IBEX 35 Gains 1.04%

Financial services, real estate and construction sectors support broad advance; oil and gold slide sharply

By Jordan Park SAN IDR
Madrid Stocks Close Higher as IBEX 35 Gains 1.04%
SAN IDR

Spanish equities finished higher on Monday, with the IBEX 35 up 1.04% at the close in Madrid. Strength in Financial Services & Real Estate, Building & Construction and Consumer Services powered the market, while select large-cap names had mixed results. Commodities retreated, with notable falls in crude oil and gold, and currency moves were modest.

Key Points

  • IBEX 35 closed up 1.04% in Madrid, led by Financial Services & Real Estate, Building & Construction and Consumer Services.
  • Top performers included ArcelorMittal (up 4.93%), International Consolidated Airlines Group (up 4.61%) and Banco Santander (up 3.88%).
  • Energy and select industrial names lagged, with Repsol down 6.47%, Indra A down 2.85% and Redeia down 2.82%.

Spain's main index ended the trading day in positive territory on Monday, closing with an IBEX 35 gain of 1.04% in Madrid. Market leadership came from Financial Services & Real Estate, Building & Construction and Consumer Services, which together underpinned the advance.

Among constituents, ArcelorMittal SA (BME:MTS) was the session's top performer on the IBEX 35, climbing 4.93% - a rise of 2.07 points - to finish at 44.09. International Consolidated Airlines Group S.A. (BME:ICAG) followed with a 4.61% increase, up 0.18 points to close at 4.17. Banco Santander (BME:SAN) also contributed to the positive tone, gaining 3.88% or 0.36 points to end the day at 9.60.

Not all large caps moved higher. Repsol (BME:REP) was the weakest performer on the IBEX 35, sliding 6.47% - down 1.57 points - to close at 22.69. Indra A (BME:IDR) declined 2.85%, a fall of 1.43 points to 48.72, and Redeia Corporacion SA (BME:REDE) lost 2.82% or 0.42 points to finish at 14.48.

Market breadth on the Madrid Stock Exchange skewed positive, with 121 stocks rising against 80 decliners and 11 that ended unchanged.

Commodities registered marked declines. Gold futures for June delivery dropped 3.79% - a fall of 174.61 - to $4,434.99 a troy ounce. Crude oil for May delivery fell 8.84% or $8.68 to $89.55 a barrel, and the June Brent contract slipped 8.64% or $9.19 to trade at $97.22 a barrel.

Currency markets showed limited movement. EUR/USD was effectively unchanged, recorded as 0.17% to 1.16, while EUR/GBP was unchanged at 0.28% to 0.86. The US Dollar Index Futures was lower by 0.46% at 99.00.


Monday's session combined sector-led appreciation in Madrid with pronounced weakness in select commodities and individual stocks, resulting in a market close that was broadly positive but featured notable pockets of decline.

Risks

  • Significant drops in crude oil and Brent futures indicate commodity price volatility that may affect energy-sector stocks such as Repsol.
  • Sharp decline in gold futures represents volatility in precious metals markets, which can influence related market segments and investor sentiment.
  • Despite overall breadth favoring advancers, notable individual declines show concentration risk within certain large-cap names and sectors.

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