FTSE 100 increases 0.4%, FTSE 250 gains 0.6%
Mining stocks lead sectoral gains
Shell denies report on quote for BP
Moonpig falls after forecasting slower growth
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Inchcape rises on keeping full-year outlook
June 26 (Reuters) - UK shares edged higher on Thursday, with the midcap index striking a two-week peak as
financiers digested a mixed bag of business outcomes and mulled the outlook for rates of interest after data indicated softening consumer costs.
The worldwide focused FTSE 100 rose 0.4% by 1100 GMT, while the domestically focused midcap index got 0.6%.
Traders likewise scrutinised Shell ´ s most current remarks after the oil giant rejected reports of continuous talks to acquire competing BP. Shares in both energy business traded partially higher in the morning.
Industrial and precious metal miners led sectoral gains, tracking greater mineral costs as a weaker dollar made resources cheaper for holders of other currencies.
Fresnillo, Antofagasta, Anglo American and
Endeavour Mining each added over 2%.
Car distributor Inchcape acquired 6.2% to top the midcap FTSE index after maintaining fiscal-year outlook through cost-cutting procedures that balance out U.S. tariffs and increased competitors.
The midcap index has actually outperformed the FTSE 100 this quarter and is on track for its biggest quarterly rise considering that late 2020.
Analysts keep in mind that domestically focused companies have actually been fairly insulated from trade unpredictabilities, while the UK stays amongst the few countries to have signed a trade offer with the United States.
On the information front, British retail sales dropped this month and expectations within the market for July likewise deteriorated, a Confederation of British Industry survey revealed.
Recent information reports have actually signalled a softening economy, and traders are now pricing in a 25 basis point Bank of England rate cut in September, according to LSEG data.
Among other stocks, Associated British Foods rose 1.1% after the food retailer stated it would close the UK's biggest bioethanol plant by September unless the federal government offers support - possibly the very first
casualty of Britain ´ s
tariff deal with the United States.
Greeting card
merchant Moonpig slumped 9.6% to touch a more than two-month low after anticipating slower incomes growth and announcing its CEO ´ s departure.
Outsourcing company Serco rose 2% on expectations of North American market driven first-half growth due to a high volume of defence agreements from in 2015.
Consultancy Next 15 Group plunged 25% after cautioning full-year 2026 earnings would substantially miss market expectations. (
Reporting by Twesha Dikshit;
Editing by Tasim Zahid)
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