The stocks leading FTSE 250 ceasefire boom
There are some big winners in the mid-cap index, recouping significant losses suffered over the past month. Graeme Evans names them here.
8th April 2026 15:34
by Graeme Evans from interactive investor
A steep drop in oil prices today led to a bout of bargain hunting in the FTSE 250 index as easyJet (LSE:EZJ), Wizz Air Holdings (LSE:WIZZ), Carnival (LSE:CCL) and Saga (LSE:SAGA) featured among a band of 11 stocks up by 10% or more.
The group also included housebuilders Bellway (LSE:BWY) and Vistry Group (LSE:VTY) amid hopes of a fall back in mortgage rates, while Pan African Resources (LSE:PAF) led a resurgent gold mining sector.
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Optimism over the UK economy following last night’s Middle East ceasefire also led to significant gains for building materials supplier Ibstock (LSE:IBST), pub chain Wetherspoon (J D) (LSE:JDW) and retailer WH Smith (LSE:SMWH).
The FTSE 250 index outperformed its blue-chip counterpart after reaching mid-afternoon up by 5% at 22,618, which represents the highest level since 5 March.
More than half the stocks in the FTSE 250 posted gains of 5% or more, including heavyweight constituents Balfour Beatty (LSE:BBY) and Computacenter (LSE:CCC).
The reverse for the price of Brent crude meant the two largest stocks by market capitalisation - Harbour Energy (LSE:HBR) and Ithaca Energy Ordinary Share (LSE:ITH) - slumped to the bottom of the index. Energean (LSE:ENOG) and takeover target Senior (LSE:SNR) were the only other fallers.
Gamma Communications (LSE:GAMA) posted the biggest rise, lifting by 135.4p to 867.6p after the business telephony, online meetings and messaging specialist said last night that it was in early stages of discussions with potential offerors.
The shares, which moved from AIM last May, recently set a seven-year low as SME headwinds in a difficult UK economy offset strategic progress following a major acquisition in Germany.
Chair Martin Hellawell said in last month’s annual report that the share price decline had been a “sobering experience” for the board during 2025 and the year to date.
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Close Brothers Group (LSE:CBG) delivered the next best performance after the banking group’s assessment of the Financial Conduct Authority’s (FCA) motor finance consumer redress scheme reassured investors.
At about £320 million, the estimated cost of the scheme is broadly similar to the group’s existing provision and comfortably absorbed by existing capital resources.
The shares rose 63.6p to their highest level in a month at 453.2p as Close added that it was well positioned and confident in its ability to deliver against its strategy.
The softening of oil prices meant easyJet rose 45.7p to 402.9p, although the carrier remains about 20% cheaper year to date after jet kerosene prices rose by more than 150% over that period.
While the Luton-based carrier is about 70% hedged and in a position to pass on higher fuel prices through increased air fares, UBS recently downgraded its earnings forecasts for this year and next by 33% and 11% respectively. It lowered its price target to 700p.
The bank added: “We rate the shares Buy, as we continue to see the case for growth in easyJet passenger volumes (both in aviation and package holidays) and profits for the group once the Middle East pressures abate.”
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Elsewhere in the travel sector, the shares of Saga resumed their ascent with a rise of 60p to 528p. They have jumped by 300% in the past year, boosted by strong demand for its ocean and river cruises alongside better than expected trading in its insurance broking business.
Pan African Resources, which only joined the second-tier benchmark in December after transferring its main listing from the upper echelons of AIM, also returned to form.
It benefited from a 2% rise for the price of gold to $4,790 an ounce as demand for the non-yielding asset picked up on hopes that the ceasefire will ease inflationary pressures and reduce the need for higher US interest rates.
Pan African, which has operations in South Africa and Australia, rose 15.1p to 161.5p, while £3 billion-valued peer Hochschild Mining (LSE:HOC) added 59p to 660.5p.
Company | Price | Today (%) | One month (%) | Since Iran war broke out (%) | 2026 (%) | One year (%) | Forward dividend yield | Forward PE |
859.6p | 17.4 | -4.7 | -4.3 | -7.0 | -28.5 | 3.0 | 7.9 | |
443.4p | 13.8 | 2.6 | -10.6 | -15.1 | 57.1 | 0.5 | 9.3 | |
2130p | 13.5 | 10.9 | -9.4 | -6.1 | 74.0 | 2.4 | 11.3 | |
530p | 13.3 | 1.9 | -3.3 | 35.4 | 323.0 | 13.6 | ||
967.75p | 12.7 | 4.3 | -20.7 | -24.2 | -32.9 | |||
365.2p | 11.3 | -18.5 | -47.6 | -43.1 | -33.6 | 1.3 | 5.6 | |
4805p | 11.4 | 11.4 | -0.1 | 18.3 | 28.0 | 6.7 | 5.4 | |
397.8p | 11.4 | -2.7 | -14.3 | -22.1 | -9.1 | 3.4 | 6.2 | |
149.7p | 10.8 | -3.0 | -16.7 | -17.1 | -39.1 | 5.7 | 8.8 | |
2059p | 10.5 | -13.8 | -26.1 | -25.0 | -9.2 | 4.0 | 9.9 |
Source: ShareScope. Past performance is not a guide to future performance.
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