IBEX 35 rises 1.47% to 19,654.9 at midday
Published on 11/05/2026 at 13:24 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSIBEX 35 extends election-led rally
- The IBEX 35 was at 19,654.9 points around noon Madrid time on November 5, up 1.47% from Wednesday's close.
- Rovi and ArcelorMittal led the index after publishing nine-month results, while the broader market continued to digest the US midterm election outcome.
- Investors are looking ahead to US employment data on Friday and inflation data next Tuesday.
The IBEX 35 continued higher in Thursday's European session, extending the sharp rebound recorded on Wednesday after the US midterm elections. Around 12:00 p.m. Madrid time on November 5, the benchmark stood at 19,654.9 points, up 1.47% from the previous session's close of 19,370.9. The market remained open, so the level was an intraday reading rather than a closing value.
According to the Europa Press report, the IBEX 35 was leading the main European markets at mid-session. London was up 0.73%, Paris 0.67%, Frankfurt 0.65% and Milan 0.29%, according to the same report.
Results add stock-specific momentum
Company news added a distinct earnings component to the index move. Rovi reported net profit of 162.8 million euros for the first nine months of 2026, 67% above the comparable period of 2025. ArcelorMittal reported attributable net income of 867 million US dollars for the same period, down 70.8% from a year earlier. At midday, Rovi was up 8.94% and ArcelorMittal 3.38%, while ACS, BBVA, Banco Santander and Acerinox were also among the stronger constituents.
Only three stocks were reported in negative territory at that point: Ferrovial, affected by its ex-dividend trading, Indra and Telefónica. The distribution of gains suggests that company-specific results were contributing alongside the broader risk-on tone, rather than the index move being driven by a single sector alone.
Markets assess the next catalysts
The election result continued to shape the international backdrop. The Anadolu report said US stocks had rallied on Wednesday after Democrats secured control of Congress, while Brent crude fell by more than 8% amid expectations of pressure for a diplomatic resolution to the Iran conflict. Those developments supported the positive European tone, although they do not by themselves establish a causal relationship with the IBEX 35's intraday performance.
For the rest of the session, investors were focused on the upcoming US employment report due Friday and consumer-price data scheduled for next Tuesday. Brent was quoted at 96.18 US dollars a barrel around midday, while Spain's 10-year government bond yield stood at 3.814%, down from 3.826% at Wednesday's close. The next market moves will depend on whether the rally can broaden beyond the strongest earnings-related gainers and how investors adjust expectations for growth, inflation and interest rates.
More coverage is available on the IBEX 35 topic page.
