Stock Markets January 23, 2026

Spanish Stock Market Falls Amid Sector Losses; IBEX 35 Closes 0.67% Lower

Declines in Consumer Services, Financial, and Construction Sectors Weigh on Madrid’s Main Index

By Priya Menon TEF
Spanish Stock Market Falls Amid Sector Losses; IBEX 35 Closes 0.67% Lower
TEF

The Spanish stock market ended Friday’s trading session with a downturn, as the IBEX 35 index declined by 0.67%. The drop was predominantly driven by decreases in the Consumer Services, Financial Services & Real Estate, and Building & Construction sectors. Despite some notable gains in specific companies, overall market sentiment was subdued. Commodity prices showed mixed moves, with gold and crude oil prices rising, while currency pairs remained largely stable.

Key Points

  • The IBEX 35 closed down 0.67%, mainly impacted by losses in Consumer Services, Financial Services & Real Estate, and Building & Construction sectors.
  • Solaria Energia y Medio Ambiente, Telefonica, and Amadeus IT were among the session’s leading gainers, with solid percentage increases.
  • Acerinox, International Consolidated Airlines Group, and Mapfre were the largest decliners, contributing to the overall negative market sentiment.

Madrid's primary stock index, the IBEX 35, closed lower on Friday by 0.67%, influenced mainly by sector-wide losses. Shares in Consumer Services, Financial Services & Real Estate, and Building & Construction experienced the greatest downward pressure, leading to a broad market pullback. By the session’s end, the IBEX 35 reflected these sector challenges with an overall decline.

Among the day’s top performers, Solaria Energia y Medio Ambiente (BME:SLRS) led the gains, adding 3.37% to finish at 18.09, improving by 0.59 points. Telefonica (BME:TEF) also gained, rising 1.91% to close at 3.37, with an increase of 0.06 points. Amadeus IT (BME:AMA) saw a 1.74% rise, ending the session at 58.62 after advancing by 1.00 point.

Conversely, several companies faced notable declines. Acerinox (BME:ACX) experienced a 2.38% drop to 13.11, falling by 0.32 points. International Consolidated Airlines Group S.A. (BME:ICAG) decreased by 2.35%, settling at 4.82 with a 0.12 point loss. Mapfre (BME:MAP) reflected a similar 2.35% decline, moving down 0.09 points to 3.83.

Market breadth indicated a bearish tone, with 110 stocks failing to advance versus 71 that closed higher, while 31 shares remained unchanged.

In the commodities market, February gold futures rose by 1.45%, increasing $71.04 to trade at $4,984.44 per troy ounce. Crude oil prices for March delivery showed a stronger upward trend, with West Texas Intermediate (WTI) closing 2.66% higher at $60.94 per barrel, and Brent crude futures adding 2.58% to settle at $65.71 per barrel.

Currency markets exhibited limited movement. The EUR/USD exchange rate held steady with a negligible change of 0.24%, maintaining a rate near 1.18. Similarly, the EUR/GBP pair was largely unchanged at 0.87. Meanwhile, the US Dollar Index futures declined 0.41%, ending at 97.77.

Risks

  • Persistent sector-specific declines suggest ongoing volatility in Consumer Services, Financial Services, Real Estate, and Construction industries.
  • Elevated commodity prices such as gold and crude oil could introduce input cost pressures affecting various sectors.
  • Currency fluctuations, while currently limited, have the potential to impact export-oriented companies and financial markets due to exchange rate volatility.

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