London, February 24, 2026, 17:15 GMT — Markets have shut down for the day.
- FTSE 100 dipped 0.04% by the close, while the FTSE 250 gave up 0.2% following an uneven start to the week.
- Convatec surged as it raised its medium-term growth target, while Unite dropped, pressured by a softer outlook for student demand.
- Wednesday brings a heavy UK earnings calendar, while traders scan U.S. tariff headlines for fresh signals.
London’s FTSE 100 finished just 4.15 points lower at 10,680.59 on Tuesday, barely budging, while the FTSE 250 slipped 45.61 points to 23,501.04. Convatec soared 10.4%; on the flip side, Unite Group dropped 14.3%. The day played out more as a test of individual names than any big-picture market shift.
Still, sentiment was set by developments beyond the UK. Investors grappled with a fresh 10% U.S. tariff hitting imports outside current exemptions, while noise around rapidly advancing artificial intelligence and its potential to shake up industries kept pressure on markets. That weighed on banks and UK tech stocks, pulling down the main index.
Rates offered little relief. Bank of England Governor Andrew Bailey told lawmakers that whether to cut rates in March is still “a genuinely open question,” after services inflation landed above the central bank’s forecasts. The BoE will decide on policy next on March 19. Reuters
Standard Chartered reported full-year pretax profit up 16%, hitting $6.96 billion, and revealed a $1.5 billion buyback—aimed at boosting per-share returns by cutting the float. Still, that profit number fell just short of what analysts had penciled in. CEO Bill Winters said the board is backing him to “see through this strategy” as he preps a fresh plan for May’s capital markets event. Shares slipped 1.46% to close at 17.89 pounds. Reuters
Convatec led the gainers, bumping up its medium-term organic revenue growth goal to 6%-8% starting in 2027. (Organic growth excludes effects from currency moves and acquisitions.) “We are increasing our medium-term revenue growth target,” CEO Jonny Mason said, pointing to what the company described as strong 2025 performance. convatecgroup.com
Unite Group led losses among UK-focused stocks after warning that annual income might drop as much as 13% in 2026. With international postgraduates shying away due to pricier UK education, CEO Joe Lister called out “the overall cost of education increasing in the UK” compared to Asian rivals. For 2026, Unite put adjusted earnings per share between 41.5 and 43.0 pence—lower than its 2025 outlook. Reuters
Croda shares climbed after the chemicals group unveiled a new three-year plan, aiming for 3%-6% organic sales growth and an adjusted operating margin topping 20% by 2028. For 2025, Croda posted sales of 1,699.4 million pounds and adjusted pre-tax profit of 276.2 million pounds. Statutory profit, though, took a hit from hefty adjustments, including impairment charges.
For now, markets remain sensitive to shifting policy and tech storylines that defy easy pricing. A swing in tariff chatter, or persistent services inflation, could quickly unravel the “easy” phase of the UK rally—those gains tied to broad risk appetite can vanish fast.
It’s a packed Wednesday. Diageo releases interim numbers for the half-year through Dec. 31, with the webcast set for 07:05 UK time and a live Q&A following at 09:30. Over at Haleon, full-year 2025 results are expected, while HSBC will deliver annual figures at 4 a.m. GMT. Investors are watching these closely for signals on consumer demand, pricing, and capital returns.
