UK Shares Gain As Investors Assess Company News, Economic Data

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 maintaining full-year outlook

June 26 (Reuters) — UK shares edged higher on Thursday, with the midcap index hitting a two-week peak as investors digested a variety of corporate outcomes and mulled the outlook for rates of interest after information suggested softening consumer costs.

The internationally focused FTSE 100 rose 0.4% by 1100 GMT, while the locally focused midcap index acquired 0.6%.

Traders likewise scrutinised Shell ´ s latest remarks after the oil giant denied reports of ongoing talks to acquire competing BP. Shares in both energy business higher in the morning.

Industrial and precious metal miners led sectoral gains, tracking higher mineral prices as a weaker dollar made resources more affordable for holders of other currencies.

Fresnillo, Antofagasta, Anglo American and Endeavour Mining each included over 2%.

Car distributor Inchcape acquired 6.2% to top the midcap FTSE index after preserving fiscal-year outlook through cost-cutting procedures that offset U.S. tariffs and increased competition.

The midcap index has surpassed the FTSE 100 this quarter and is on track for its most significant quarterly rise considering that late 2020.

Analysts keep in mind that locally focused business have actually been fairly insulated from trade unpredictabilities, while the UK remains amongst the couple of countries to have signed a trade handle the United States.

On the information front, British retail sales plunged this month and expectations within the market for July also weakened, a Confederation of British Industry survey showed.

Recent data reports have indicated a softening economy, and traders are now pricing in a 25 basis point Bank of England rate cut in September, according to LSEG information.

To name a few stocks, Associated British Foods rose 1.1% after the food merchant stated it would close the UK’s biggest bioethanol plant by September unless the government offers assistance — potentially the first casualty of Britain ´ s tariff handle the United States.

Greeting card retailer Moonpig dropped 9.6% to touch a more than two-month low after anticipating slower earnings development and announcing its CEO ´ s departure.

Outsourcing company Serco increased 2% on expectations of North American market driven first-half development due to a high volume of defence agreements from in 2015.

Consultancy Next 15 Group dropped 25% after alerting full-year 2026 revenue would considerably miss out on market expectations. (Reporting by Twesha Dikshit; Editing by Tasim Zahid)