Spanish shares rose on Wednesday, with the benchmark index Ibex-35 up 0.51 percent, or 54.8 points, to close at 10,702.70 points.

A total of 19 of the selected 35 companies gained in the day.

Airline group IAG advanced 4.66 percent, the top gainer of the blue chip stocks, followed by Spain's fifth-largest bank, Bankia, and insurance company Mapfre, which rose 4.03 percent and 2.48 percent respectively.

Telecommunications company Telefonica went down 2.06 percent, the top loser of the blue chips. Chemical and pharmaceutical company Grifols lost 1.31 percent and gas and electricity company Endesa lost 1.28 percent.