FTSE 100 closes 1.79% higher at 10,829.21
Published on 11/04/2026 at 22:55 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSFTSE 100 ends sharply higher
- The index closed at 10,829.21 points on November 4, gaining 1.79% or 190.78 points.
- Banks and miners led the advance as investors reacted to the Democrats' sweep in the US midterm elections.
- Lower oil prices and a weaker dollar supported risk appetite, gold and precious-metal miners.
The FTSE 100 ended Wednesday's session at 10,829.21 points, up 190.78 points or 1.79% from Tuesday's close of 10,638.43. The result marked the index's biggest one-day percentage gain since early May and a two-week high, according to Reuters.
Banks and miners lead advance
Banking stocks provided the strongest sector contribution, with HSBC, Standard Chartered, NatWest Group, Lloyds Banking Group and Barclays all advancing. Mining shares also gained as gold prices moved above 4,000 US dollars per ounce and the dollar weakened after the US election result.
The move followed the Democrats' sweeping victory in the US midterm elections. Reuters reported that investors viewed the outcome as reducing immediate concerns about unilateral trade escalation, aggressive technology disruption and larger federal deficits. The political shift also contributed to a sharp decline in oil prices, which improved sentiment toward industries sensitive to energy costs.
Company updates add support
A Hargreaves Lansdown market report said well-received updates from Marks & Spencer and Smith & Nephew also supported the FTSE 100. Marks & Spencer reported a 16.2% increase in sales for the 26 weeks to September 26 and higher adjusted pretax profit. Smith & Nephew rose despite lowering its full-year guidance because of weaker growth in US orthopaedics.
Not all sectors benefited. Defence stocks including BAE Systems, Babcock, QinetiQ and Chemring fell as investors considered the possible implications of the US election outcome for defence spending. Weir Group also declined despite reporting higher third-quarter orders and retaining its full-year expectations.
Rate decision remains in focus
Alongside the international market reaction, investors continued to position for an expected Bank of England rate decision later this week. The combination of election-related optimism, lower oil prices and stronger financial shares outweighed the remaining policy uncertainty in Wednesday's session.
Further FTSE 100 coverage is available on the FTSE 100 topic page.
