FTSE 100 increases 0.4%, FTSE 250 gains 0.6%

Mining stocks lead sectoral gains

Shell denies report on bid for BP

Moonpig falls after anticipating slower development

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Inchcape rises on maintaining full-year outlook

June 26 (Reuters) - UK shares edged higher on Thursday, with the midcap index striking a two-week peak as financiers absorbed a variety of corporate outcomes and mulled the outlook for rate of interest after information showed softening customer spending.

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

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

Industrial and valuable metal miners led sectoral gains, tracking greater mineral prices as a weaker dollar made resources less expensive for holders of other currencies.

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

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

The midcap index has outperformed the FTSE 100 this quarter and is on track for its most significant quarterly increase given that late 2020.

Analysts note that domestically focused business have actually been reasonably insulated from trade uncertainties, while the UK remains among the few nations to have signed a trade handle the United States.

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

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 increased 1.1% after the food seller stated it would close the UK's largest bioethanol plant by September unless the federal government offers assistance - potentially the very first casualty of Britain ´ s tariff handle the United States.

Greeting card merchant Moonpig slumped 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 contracts from in 2015.

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