FTSE 100 rises 0.4%, FTSE 250 gains 0.6%
Mining stocks lead sectoral gains
Shell rejects report on quote for BP
Moonpig falls after anticipating slower growth
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Inchcape increases on preserving full-year outlook
June 26 (Reuters) – UK shares edged higher on Thursday, with the midcap index hitting a two-week peak as financiers digested a combined bag of corporate results and mulled the outlook for interest rates after information indicated softening customer spending.
The worldwide focused FTSE 100 increased 0.4% by 1100 GMT, while the domestically focused midcap index got 0.6%.
Traders also scrutinised Shell ´ s newest remarks after the oil giant rejected reports of ongoing speak to obtain rival BP. Shares in both energy business traded marginally greater in the morning.
Industrial and valuable metal miners led sectoral gains, tracking higher mineral costs as a weaker dollar made resources more affordable for of other currencies.
Fresnillo, Antofagasta, Anglo American and Endeavour Mining each added over 2%.
Car distributor Inchcape got 6.2% to top the midcap FTSE index after maintaining fiscal-year outlook through cost-cutting steps that balance out U.S. tariffs and increased competitors.
The midcap index has actually outshined the FTSE 100 this quarter and is on track for its biggest quarterly increase given that late 2020.
Analysts note that domestically focused companies have been reasonably insulated from trade uncertainties, while the UK remains among the few countries to have actually signed a trade deal with the United States.
On the information front, British retail sales dropped this month and expectations within the market for July also deteriorated, a Confederation of British Industry study revealed.
Recent information reports have actually signified a softening economy, and traders are now pricing in a 25 basis point Bank of England rate cut in September, according to LSEG data.
To name a few stocks, Associated British Foods rose 1.1% after the food merchant said it would close the UK’s largest bioethanol plant by September unless the federal government supplies assistance – possibly the first casualty of Britain ´ s tariff handle the United States.
Greeting card seller Moonpig dropped 9.6% to touch a more than two-month low after anticipating slower profits growth and revealing its CEO ´ s departure.
Outsourcing firm Serco rose 2% on expectations of North American market driven first-half growth due to a high volume of defence agreements from last year.
Consultancy Next 15 Group dropped 25% after warning full-year 2026 earnings would considerably miss out on market expectations. (Reporting by Twesha Dikshit; Editing by Tasim Zahid)