IBEX 35 slips 0.2 percent at midday as Lula vote weighs
Published on 10/26/2026 at 13:02 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSBrazil vote and energy prices
- IBEX 35 stood at 18,954 points at 12:12 p.m. CET on October 26, down 36 points or 0.2 percent.
- Lula da Silva's election victory pressured Brazil-exposed stocks as Brent traded at USD 114.99.
- Telefonica fell 7.4 percent, while Indra led gainers with a 3.8 percent advance.
- Spain's unemployment rate is due Tuesday, October 27, at 9:00 a.m. CET.
The IBEX 35 was down 36 points, or 0.2 percent, at 18,954 points at 12:12 p.m. CET on October 26, 2026. Brazil's election result weighed on Spain's benchmark as Brent traded at USD 114.99, Europa Press reported.
Banco Santander fell 3.6 percent at midday as investors reassessed Spanish companies with Brazilian exposure after Luiz Inacio Lula da Silva won the presidential election, Reuters said.
Why is the IBEX 35 lagging Europe?
The Brazil-linked selloff set the Spanish index apart from other major European markets. The election outcome reversed positions built around expectations of a different result, according to Reuters. Brent was down 1.5 percent at USD 114.99, while the Spanish 10-year yield eased to 4.038 percent, Europa Press reported.
Winners and losers in the IBEX 35
Winners and losers at 12:12 p.m. CET according to Europa Press:
- Indra up 3.8 percent
- Grifols up 3.4 percent
- IAG up 3.1 percent
- Telefonica down 7.4 percent: Brazil exposure amplified the election reaction
- Banco Santander down 3.6 percent: Brazil exposure weighed on the shares
- Mapfre down 2.7 percent: Brazil exposure pressured the stock
IBEX 35 recovers from its opening low
The index opened at 18,815 points and had recovered 139 points by midday. It had fallen 0.9 percent at the open as investors weighed the Brazilian election, Middle East tensions and oil supply risks, El Correo reported.
What comes next for the IBEX 35
- October 27, 2026, 9:00 a.m. CET: Spain's unemployment rate is scheduled for release, Borsa Italiana lists.
- October 28, 2026, 8:00 p.m. CET: The Federal Reserve is scheduled to announce its policy decision, with a pause widely expected, Yahoo Finance reports.
IBEX 35 price data for October 26, 2026
The IBEX 35 stood at 18,954 points at 12:12 p.m. CET on October 26, 2026, according to Europa Press. It was down 36 points, or 0.2 percent, from the previous close of 18,990 points. The index opened at 18,815 points.
IBEX 35 by the numbers on October 26, 2026
- Index: IBEX 35
- Home exchange: BME Exchange, Spain
- Level at 12:12 p.m. CET on October 26, 2026: 18,954 points
- Change versus previous close of October 23, 2026: down 36 points (down 0.2 percent)
- Previous close: 18,990 points
- Open: 18,815 points
- Top gainer: Indra up 3.8 percent
- Top loser: Telefonica down 7.4 percent
- Next scheduled event: October 27, 2026, 9:00 a.m. CET: Spain's unemployment rate
