2 Top FTSE 250 Shares to Watch in 2026
The UK’s FTSE 250 index is comprised of 250 mid-cap companies listed on the London Stock Exchange (LSE). In this article, we'll take a look at a couple of top FTSE 250 shares and examine their prospects in the year ahead.
The information in this article is provided for educational purposes only and does not constitute financial advice. Consult a financial advisor before making investment decisions.
What Is the FTSE 250?
The FTSE 250 is the UK’s second tier stock index, after the FTSE 100. Whilst the FTSE 100 is comprised of the 100 largest companies by market capitalisation listed on the LSE, the FTSE 250 is made up of the next 250 largest companies.
As such, many of the companies are much smaller than the FTSE 100 constituents, which means they may have more room for growth.
Although the FTSE 100 is usually deemed the UK’s benchmark index, many of the companies within it are international corporations which draw the majority of their revenue from overseas.
The FTSE 250, on the other hand, is far more domestically focused and, for that reason, is viewed by many as a better gauge for the health of the UK economy.
2 Top FTSE 250 Shares
Whilst the growth of the overall index has been rather lacklustre in recent years, its performance in 2025 has been relatively decent. In the following sections, we will highlight two FTSE 250 stocks which have performed well in 2025, and which could be ones to watch in 2026.
TBC Bank
TBC Bank is a London-listed Georgian financial group with a strong emphasis on digital banking. It’s one of two dominant banks in Georgia and, in 2020, launched operations in Uzbekistan.
Fast Growing Economies
The economies of both Georgia and Uzbekistan have recorded impressive growth in recent years.
In 2025, the Georgian economy is projected to grow by 7% in 2025 before easing to 5% in 2026. Similarly, in Uzbekistan, the economy is forecast to expand by 6.2% in 2025 and 6% in 2026.
Although the Georgian market still accounts for most of its business, TBC's operations in Uzbekistan are growing rapidly. For example, in the first nine months of 2025, net profit for its Uzbekistan business rose 29%. In the same period, deposits in Uzbekistan jumped more than 70% whilst its loan book expanded more than 90%.
Subsequently, the bank’s total operating income jumped 21% in the first nine months of 2025 and net profit rose 6.2%
In terms of dividend payments, the stock currently has a dividend yield of 6.6%, although it should be noted that future dividends are never guaranteed.
Economic and Political Risk
Nevertheless, it’s important to remember that banking is a very cyclical industry.
Whilst banks stand to benefit from a healthy economy, they tend to suffer during a downturn. Consequently, a significant slowdown in either of TBC’s two markets could have a negative impact on the stock.
Furthermore, there remain concerns regarding the political landscape in Georgia, which has seen regular protests after a disputed election in 2024.
BlackRock World Mining Trust
The BlackRock World Mining Trust is a FTSE 250 investment trust which, as the name suggests, invests in global mining companies.
Below are the trust’s top ten holdings at the time of writing, which include some of the largest miners in the world:
- Agnico Eagle Mines
- Rio Tinto
- Wheaton Precious Metals
- Freeport-McMoRan
- Vale SA
- BHP Group
- Kinross Gold
- Anglo American
- Glencore
- Newmont
Strong Exposure to Gold and Copper
As we can see from this list, the trust’s top holdings have a relatively high exposure to gold through Agnico Eagle Mines, Wheaton Precious Metals, Freeport-McMoRan, Kinross Gold and Newmont.
With gold prices soaring in 2025, this has resulted in gold miners performing well, which has been reflected in BlackRock World Mining Trust’s own performance. Consequently, the trust’s exposure to the precious metal appears to have paid off this year.
As well as gold, the trust’s top holdings reveal a high level of exposure to iron ore – through Vale, Rio Tinto and BHP – and copper – through Freeport-McMoRan, Rio Tinto, BHP, Anglo American and Glencore.
Demand for copper is forecast to grow in the coming years, largely due to the energy transition, resulting in a global supply deficit in the red metal. Therefore, with its current portfolio, the trust could stand to benefit from future demand and supply dynamics in the copper market.
Fees and Vulnerability to a Downturn
Nevertheless, as always, there are a few things to bear in mind here.
Firstly, like banking, mining is a very cyclical industry, with mining share prices among the first to suffer during a downturn.
In particular, it’s important to consider China’s role in the global commodity market. Above, we highlighted the trust’s exposure to iron ore and copper; China is by far the largest consumer of both of these metals in the world.
Consequently, slowing growth in China could have a large impact in global demand which, in turn, could negatively affect the share prices of some of these miners.
Something else to consider is that, as this is a professionally managed trust, there is an ongoing annual fee, which is currently 0.95%. Whilst this may not sound like a lot, it can add up over the long-term.
Other Articles You Might Be Interested In:
Frequently Asked Questions
What stocks are in the FTSE 250?
The FTSE 250 is composed of the next 250 largest stocks listed on the London Stock Exchange (LSE) after the top 100 (which form the FTSE 100). In other words, if you listed the companies on the LSE in descending order by market capitalisation, the 101st – 350th would represent the FTSE 250.
Which FTSE 250 companies pay dividends?
At the time of writing, 24 November 2025, more than 200 of the FTSE 250’s constituents have paid a dividend in the last 12 months. However, bear in mind that this is subject to change as future dividends are never guaranteed.
Is FTSE 250 worth investing in?
The answer to this will depend on the individual investor and their investing goals. Whilst the FTSE 100 is composed of many international companies which derive a significant level of earnings from overseas, the FTSE 250 is composed of more domestically focussed companies. Consequently, the prospects for the FTSE 250 are typically more dependent on the health of the UK economy.
INFORMATION ABOUT ANALYTICAL MATERIALS:
The given data provides additional information regarding all analysis, estimates, prognosis, forecasts, market reviews, weekly outlooks or other similar assessments or information (hereinafter “Analysis”) published on the websites of Admiral Markets investment firms operating under the Admiral Markets trademark (hereinafter “Admiral Markets”) Before making any investment decisions please pay close attention to the following:
- This is a marketing communication. The content is published for informative purposes only and is in no way to be construed as investment advice or recommendation. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and that it is not subject to any prohibition on dealing ahead of the dissemination of investment research.
- Any investment decision is made by each client alone whereas Admiral Markets shall not be responsible for any loss or damage arising from any such decision, whether or not based on the content.
- With view to protecting the interests of our clients and the objectivity of the Analysis, Admiral Markets has established relevant internal procedures for prevention and management of conflicts of interest.
- The Analysis is prepared by an analyst (hereinafter “Author”). The Author Roberto Rivero is a contractor for Admiral Markets. This content is a marketing communication and does not constitute independent financial research.
- Whilst every reasonable effort is taken to ensure that all sources of the content are reliable and that all information is presented, as much as possible, in an understandable, timely, precise and complete manner, Admiral Markets does not guarantee the accuracy or completeness of any information contained within the Analysis.
- Any kind of past or modelled performance of financial instruments indicated within the content should not be construed as an express or implied promise, guarantee or implication by Admiral Markets for any future performance. The value of the financial instrument may both increase and decrease and the preservation of the asset value is not guaranteed.
- Leveraged products (including contracts for difference) are speculative in nature and may result in losses or profit. Before you start trading, please ensure that you fully understand the risks involved.
