FTSE 100 increases 0.4%, FTSE 250 gains 0.6%

Mining stocks lead sectoral gains

Shell rejects 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 indicated softening customer costs.

The globally 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 rejected reports of ongoing speak to obtain rival BP. Shares in both energy business traded partially greater in the morning.

Industrial and rare-earth element miners led sectoral gains, tracking higher mineral rates 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 gained 6.2% to top the midcap FTSE index after keeping fiscal-year outlook through cost-cutting measures that offset U.S. tariffs and increased competition.

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

Analysts note that locally focused companies have actually been reasonably insulated from trade uncertainties, while the UK stays amongst the few nations 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 likewise degraded, a Confederation of British Industry study revealed.

Recent data 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 merchant said it would close the UK's largest bioethanol plant by September unless the federal government provides assistance - potentially the 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 earnings development and revealing its CEO ´ s departure.

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

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