Karim Benzema and Kylian Mbappe struck to claim the title for world champions France after Mikel Oyarzabal put Spain ahead midway through the second half.
The groups for qualifying stages of the 2022 Qatar World Cup were drawn in a virtual ceremony at FIFA's headquarters in Zurich.
Turkey defeat Russia 3-2 remaining in third place with six points in its group, and Italy beats Poland 2-0 despite absence of several players and coach Roberto Mancini who tested positive for coronavirus.
The 35-year-old Juventus striker will miss Wednesday's UEFA Nations League game against Sweden but is "well, has no symptoms and is in isolation", the Portuguese federation says.
Hungary escapes with 1-0 victory thanks to Szoboszlai's late free-kick goal.
The hosts' victory in UEFA's newest competition denied the Netherlands its first trophy since the 1988 European Championship.
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