FTSE 100 closes 1.86% higher at 10,836.67 after US midterm sweep
Published on 11/04/2026 at 19:02 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSFTSE 100 rebounds sharply
- The FTSE 100 closed 1.86% higher at 10,836.67 points on November 4, 2026.
- Banks and precious-metals miners led the advance after Democrats won both chambers of the US Congress.
- Investors also positioned for an expected Bank of England rate increase and assessed firmer UK activity data.
The FTSE 100 ended Wednesday's session 1.86% higher at 10,836.67 points, according to the market data published by Investing.com. The index recovered strongly after falling 1.14% to 10,638.43 on Tuesday, a close reported by Sharecast. The move leaves the blue-chip index 198.24 points above that previous close.
Banks and miners drive rebound
Banks were among the strongest contributors as investors anticipated a Bank of England rate increase at Thursday's meeting. Earlier reporting from Reuters said the banking sector was up 4.3% at midday, with HSBC, Standard Chartered, NatWest, Lloyds Banking Group and Barclays among the leading gainers. The weaker dollar also supported gold prices and precious-metals producers, adding to the resources sector's contribution.
The rally followed a sharp change in the political backdrop in Washington. Democrats secured control of both the Senate and the House of Representatives in the US midterm elections. Market coverage from MT Newswires linked the session's global risk recovery to that result, while also noting the weaker dollar and lower perceived escalation risk in the Middle East.
UK data and stock-specific moves
UK activity data added to the backdrop. The October S&P Global UK composite PMI rose to 52.9 from 52.0 in September, its highest level since February. The services PMI reached 52.8, also an eight-month high. S&P Global said the data showed faster output growth alongside stronger price pressures, supporting expectations that the Bank of England could tighten policy further.
Stock-specific developments produced a mixed performance beneath the headline gain. Marks & Spencer rose 6.66% after reporting higher first-half revenue and attributable profit, while Weir Group fell 9.51% despite maintaining its annual outlook and reporting higher third-quarter orders. The decline reflected concerns about shorter-term headwinds, including geopolitical risks and disruptions affecting mining customers.
What investors should watch next
The next major catalyst for UK equities is the Bank of England's policy announcement on Thursday. Investors will assess both the rate decision and Governor Andrew Bailey's comments for indications about the likely peak of the tightening cycle. The FTSE 100 remains heavily influenced by banks, energy companies and miners, so movements in rates, sterling, commodity prices and the dollar may continue to shape index performance. The FTSE 100 topic page provides further index coverage.
