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 rejects report on quote for BP

Moonpig falls after anticipating slower development

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Inchcape rises on keeping 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 blended bag of business outcomes and mulled the outlook for interest rates after data indicated softening customer costs.

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

Traders likewise scrutinised Shell ´ s most current remarks after the oil giant rejected reports of ongoing talks to obtain competing 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 prices as a weaker dollar made resources less expensive for holders of other currencies.

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

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

The midcap index has outshined the FTSE 100 this quarter and is on track for its greatest quarterly rise because late 2020.

Analysts note that domestically focused companies have been relatively insulated from trade uncertainties, while the UK stays amongst the couple of countries to have signed a trade deal with the United States.

On the data front, British retail sales dropped this month and expectations within the industry for July also degraded, a Confederation of British Industry study showed.

Recent information reports have actually signalled a softening economy, and 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 seller said it would close the UK’s biggest bioethanol plant by September unless the federal government supplies support – potentially the very first casualty of Britain ´ s tariff offer with the United States.

Greeting card retailer Moonpig slumped 9.6% to touch a more than two-month low after forecasting slower incomes growth and revealing its CEO ´ s departure.

Outsourcing firm Serco increased 2% on expectations of North American market driven first-half development due to a high volume of defence contracts from last year.

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