IBEX 35 closes 3% higher at 19,370.90 after US midterm result
Published on 11/04/2026 at 22:59 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSIBEX 35 rebounds after US vote
- The IBEX 35 closed at 19,370.90 points on November 4, up 3.00% from the previous session.
- Banking shares and Inditex led the advance, while only four index constituents ended lower.
- The session was supported by the Democratic victory in the US midterm elections and a sharp decline in oil prices.
The IBEX 35 ended the Madrid session on Wednesday, November 4, at 19,370.90 points, up 563.70 points or 3.00% from Tuesday's close of 18,807.20. The move recovered the previous session's decline and marked the Spanish benchmark's strongest daily performance since April, according to Europa Press.
Election result reshapes market mood
The session followed the Democratic Party's victory in the US midterm elections and its recovery of control of both the Senate and the House of Representatives. The election result raised questions about the outlook for US fiscal, regulatory and defence policy, while also prompting a broad move higher across European equities.
Oil prices fell sharply during the European session. Europa Press reported Brent down 8.21% at 94.70 US dollars per barrel and West Texas Intermediate down 7.00% at 89.36 US dollars. The decline in crude prices added to the day's market backdrop, although the report also cited geopolitical developments in the Middle East.
Banks and Inditex lead the advance
Financial stocks were among the strongest contributors to the index. Banco Santander rose 4.87%, BBVA gained 5.30% and Caixabank advanced 4.66%, while Inditex climbed 5.24% and IAG added 4.54%. Only four IBEX 35 constituents finished lower: ACS fell 5.09%, Indra declined 5.82%, Repsol lost 1.85% and Grifols slipped 0.04%, according to the Europa Press market report.
The index opened at 18,921.20 points and traded between 18,913.30 and 19,482.20 during the session. The closing level was 111.30 points below the day's high and 457.60 points above its low, based on the session figures reported by El Periodico de Ceuta, citing Yahoo Finance.
Strong rebound, but volatility remains
The 3.00% rise put the IBEX 35 back above 19,300 points after Tuesday's 0.79% decline. The scale of the rebound reflects a rapid change in sentiment rather than a single company-specific development. Investors still face uncertainty around US policy, energy prices and geopolitical risks, so the advance should be read as a session result rather than evidence of a new long-term trend.
Further coverage of the index is available on the IBEX 35 topic page.
