Pau Quemada scored for Spain at the Lee Valley Hockey Centre on Queen Elizabeth Olympic Park before Britain even touched the ball, but Sam Ward equalised for the hosts in the second quarter. 

Ward then had a goal ruled out in the last minute by umpire video referral as the match finished 1-1. 

The decisive goal in the shoot-out came from Sergi Enrique, giving Spain the bonus point.

The result saw Britain go from first in the standings with an 80 per cent win rate to third with a 72.22 per cent win rate, while Spain remain seventh.

First place was taken by Australia after they defeated Argentina 2-1 at Cenard in Buenos Aires.

Blake Govers and Corey Weyer were on target for the Kookaburras before Maico Casella reduced the deficit with a fourth quarter goal that proved to be only a consolation.

Britain were also unsuccessful in their women's match against China as they suffered a 2-1 defeat to the visitors.

Ou Zixia opened the scoring before Britain's Giselle Ansley restored parity for the hosts.

Peng Yang then grabbed what turned out to be the winner, with all three goals coming in the third quarter. 

China's victory sees them close in on Britain in the standings, with the former on 27.8 per cent win rate and the latter on 29.2.

Australia and Argentina also met in the women's competition, with Maddy Fitzpatrick and Silvina D’Elia scoring for each team to see the match end at 1-1.

Argentina took the bonus point in the shootout after D'Elia, Julieta Jankunas and Carla Rebecchi successfully converted.