Stock Markets March 6, 2026

Madrid Stocks Slip as IBEX 35 Falls to One-Month Low

Consumer goods, construction and financial real estate names weigh on market; Repsol climbs to multi-year high amid broad declines

By Nina Shah TEF
Madrid Stocks Slip as IBEX 35 Falls to One-Month Low
TEF

Spain's benchmark IBEX 35 closed lower on Friday, dropping 1.11% to a one-month low as losses across Consumer Goods, Building & Construction and Financial Services & Real Estate sectors pushed the market down. While several blue-chips advanced, including Telefonica and Repsol, declines outnumbered gains on the Madrid exchange. Commodities moved sharply higher, with significant gains for crude oil and gold, while major currency pairs were largely steady.

Key Points

  • IBEX 35 closed down 1.11%, marking a one-month low as sectoral losses drove the market lower.
  • Repsol, Telefonica and Amadeus were notable gainers while Grifols, Fluidra and ArcelorMittal recorded outsized declines.
  • Commodities moved higher with strong gains in crude oil, Brent and gold; currency pairs were mostly steady.

Spain's equity market ended the trading week in negative territory on Friday, with the IBEX 35 falling 1.11% to close at a fresh one-month low. Broad weakness in Consumer Goods, Building & Construction and Financial Services & Real Estate stocks contributed to the retreat.

At the close in Madrid, losers outpaced winners by a wide margin. Declining issues numbered 126, while 62 stocks finished higher and 17 were unchanged.

Among the IBEX 35 names that rose, Telefonica (TEF) led gains, finishing up 2.89% or 0.10 points at 3.67. Energy major Repsol (REP) also advanced, adding 2.67% or 0.54 points to end at 20.76, a move that took the stock to five-year highs. Travel technology provider Amadeus IT (AMA) was higher by 1.64% or 0.88 points, closing at 54.62.

On the losing side, Grifols SA (GRLS) recorded the steepest drop among IBEX 35 components, down 3.36% or 0.35 points to 10.06 at the close. Pool equipment maker Fluidra (FLUI) fell 3.11% or 0.68 points to finish at 21.20, and steelmaker ArcelorMittal SA (MTS) slipped 3.06% or 1.51 points to 47.90.

Commodities saw notable moves during the session. April gold futures were higher by 1.32% or 66.84, trading at 5,145.54 per troy ounce. Oil rallied sharply, with April crude oil up 11.26% or 9.12 to $90.13 a barrel, and the May Brent contract rising 8.28% or 7.07 to trade at $92.48 a barrel.

Major currency pairs were largely unchanged. The euro-dollar pair (EUR/USD) moved 0.06% to 1.16, while the euro-pound rate (EUR/GBP) showed a 0.37% change to 0.87. The US Dollar Index Futures fell 0.34% to 98.97.


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Risks

  • Sector-specific weakness in Consumer Goods, Building & Construction and Financial Services & Real Estate may continue to pressure the IBEX 35 and related stocks.
  • Volatility in commodity prices, particularly crude oil and Brent, introduces uncertainty for energy-sensitive companies and broader market sentiment.
  • Sharp moves in commodity markets and mixed breadth on the exchange could increase market volatility and affect investor positioning in Spanish equities.

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