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UK Shares Gain As Investors Assess Company News, Economic Data

FTSE 100 rises 0.4%, FTSE 250 gains 0.6%

Mining stocks lead sectoral gains

Shell denies report on bid for BP

Moonpig falls after forecasting 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 investors digested a variety of business results and mulled the outlook for rates of interest after information suggested softening consumer costs.

The globally focused FTSE 100 increased 0.4% by 1100 GMT, while the domestically focused midcap index gained 0.6%.

Traders likewise scrutinised Shell ´ s latest remarks after the oil giant denied reports of ongoing speak with obtain rival BP. Shares in both energy companies traded partially greater in the early morning.

Industrial and rare-earth element miners led sectoral gains, tracking higher mineral costs as a weaker dollar made resources cheaper for holders of other currencies.

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

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

The midcap index has outperformed the FTSE 100 this quarter and is on track for its biggest quarterly increase since late 2020.

Analysts note that domestically focused companies have been reasonably insulated from trade unpredictabilities, while the UK stays amongst the few countries to have signed a trade deal with the United States.

On the information front, British retail sales plunged this month and expectations within the industry for July likewise degraded, a Confederation of British Industry study revealed.

Recent data reports have actually 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.

Among other stocks, Associated British Foods increased 1.1% after the food retailer stated it would close the UK’s biggest bioethanol plant by September unless the federal government provides support – possibly the first casualty of Britain ´ s tariff deal with the United States.

Greeting card retailer Moonpig dropped 9.6% to touch a more than two-month low after forecasting slower earnings development and revealing 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 contracts from in 2015.

Consultancy Next 15 Group plunged 25% after alerting full-year 2026 earnings would substantially miss market expectations. (Reporting by Twesha Dikshit; Editing by Tasim Zahid)