Information on equine stress responses to anaesthesia and surgery is sparse. Six ponies were anaesthetized for 2 h with halothane and no surgery was performed. Plasma concentrations of glucose, lactate, non-esterified fatty acids, cortisol, insulin, catecholamines and adrenocorticotropic hormone (ACTH) were measured. The results were compared with those obtained in the same group of ponies over the same time period on a different day with the animals conscious. Anaesthesia induced an increase in plasma concentrations of glucose, lactate, cortisol and ACTH and a decrease in plasma concentration of insulin. The response was the same when the study was repeated 18 months later. This suggests that anaesthesia alone, with a commonly used clinical technique, induced a substantial stress response in the horse. More benign anaesthetic techniques should be sought in this species.