{"id":147187,"date":"2026-10-27T09:00:49","date_gmt":"2026-10-27T07:00:49","guid":{"rendered":"https:\/\/instituto.choiseul.es\/lula-wins-in-brazil-ibex-impact\/"},"modified":"2026-10-27T09:00:49","modified_gmt":"2026-10-27T07:00:49","slug":"lula-wins-in-brazil-ibex-impact","status":"publish","type":"post","link":"https:\/\/instituto.choiseul.es\/en\/lula-wins-in-brazil-ibex-impact\/","title":{"rendered":"Lula wins in Brazil: Ibex impact"},"content":{"rendered":"
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Lula wins in Brazil: Ibex impact<\/h1>\n

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Luiz In\u00e1cio Lula da Silva has secured victory in the second round of Brazil’s presidential elections, held last Sunday, October 25th. The result, narrow against the conservative coalition, confirms the Workers’ Party (PT) will remain for a new term.<\/p>\n

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October 27, 2026  |  3 min read<\/p>\n

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The final data from the Superior Electoral Court consolidates a political scenario that immediately impacts the valuation of Brazilian assets and Spanish companies with strategic interests in the South American country.<\/p>\n

The Ibex 35 reflects this uncertainty with significant declines in its stocks with the greatest geographical exposure. Banco Santander, Telef\u00f3nica, and Iberdrola, whose income statements largely depend on their operations in Brazil, are leading the losses at the opening of the trading session. The Spanish selective index is testing critical support levels given the possibility of structural changes in fiscal and regulatory policy that the new executive may implement in the coming months.<\/p>\n

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Regulatory risk and stability of financial flows<\/h2>\n

Lula da Silva’s victory introduces a scenario of operational volatility for Spanish multinationals. Investor concern is focused on the sustainability of the spending cap and the management of state-owned companies, factors that act as a thermometer for government intervention in the economy.<\/p>\n

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