137 - PP - 33.03% (conservative) [+14, +4.32%]
85 - PSOE - 22.66% (social democrat) [-5, +0.66%]
71 - UP - 21.10% (hard left) [+-0, -3.39%]
32 - Cs - 13.05% (centrist) [-8, -0.89%]
Boosting PP is the fact that they won an outright majority in the Senate.
News is that the UP accepts PP is in the drivers seat. In addition, PSOE has agreed either to outright support, or at least abstain, in a vote to allow PP to form a government. PSOE, however, has said they want to remain in opposition. PP meanwhile, has said they are going to approach PSOE to talk about forming a coalition.
In short, it looks like we will see a government lead by PP that will last for a least a year, if not more. While I have my doubts that they can work out a grand coalition, there does seem to be a willingness to allow PP to govern, and not repeat the need for an election. As such, things are likely somewhat settled in Spain until 2017 at least, by which time the polls may have changed enough to allow for a government that can command a majority.