Market Overview – FTSE 250

The FTSE 250 index, listed on the Intercontinental Exchange, closed at 23 573.5 on 18 February 2026. It remains within a 52‑week range of 21 392.5 to 23 703.3. Recent market activity has been shaped largely by geopolitical developments involving the United States and Iran, as well as by sector‑specific corporate results.

Geopolitical Impact

  • US‑Iran Tensions Throughout the week, rising concerns over the United States’ stance toward Iran have led to a sharp increase in Brent crude prices. This has supported oil‑related shares and contributed to a modest rebound in the FTSE 250, despite broader market volatility.
  • 19 February: Oil stocks jumped as crude prices rallied amid Iran tensions.
  • 20 February: London midday trading showed FTSE gains extending after encouraging economic data, despite ongoing geopolitical uncertainty.

Corporate Performance

  • Pan African Resources (LSE:PAF) The miner’s strong earnings report propelled its shares higher, helping the FTSE 250 reach a four‑year high. Pan African’s performance was highlighted in several market snapshot reports, underscoring its influence on the index.

  • Raspberry Pi and Plus500 On 17 February, Raspberry Pi shares surged while Plus500 tumbled, reflecting sector‑specific investor sentiment and adding volatility to the index.

  • HSBC, Diageo, IAG Bank‑sector updates, particularly HSBC’s third‑quarter results, were noted in market commentary, indicating the importance of financial services in the index’s composition.

Economic Data Releases

  • UK Economic Indicators Early‑trade on 20 February benefitted from stronger‑than‑expected government borrowing figures and retail sales data, lifting the FTSE 100 and, by extension, the FTSE 250.
  • Morning: The FTSE 100 rose by 0.2 % to 10 651.21 at 08:30 GMT.
  • Midday: The FTSE 100 was up 0.6 % at 10 694.78, reflecting positive investor sentiment.

Index Performance Summary

  • Day‑to‑Day Movements The FTSE 250 showed a mix of gains and losses. On 18 February, the index held near its 52‑week high, while on 19 February it experienced a slight retreat from record levels, driven by a 0.6 % decline in the FTSE 100 as oil prices jumped.
  • Year‑to‑Date Trend The FTSE 100’s 7 % year‑to‑date rise has been mirrored by the FTSE 250, with Pan African Resources contributing significantly to the latter’s performance.

Conclusion

The FTSE 250’s recent movements have been influenced primarily by geopolitical tensions affecting oil markets, the strong earnings of key constituent companies such as Pan African Resources, and supportive UK economic data. Investors remain attentive to developments in the US‑Iran conflict and corporate earnings releases that could further shape the index’s trajectory in the coming days.