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Highlights
FTSE 100 and FTSE 250 rise, with midcaps reaching a ten-month peak
Shell (LON:SHEL) gains after denying acquisition talks involving BP (LON:BP.)
Moonpig Group (LON:MOON) and Next 15 Group (LON:NFG) face declines amid shifting sentiment
The FTSE 100 and FTSE 250 closed higher on Thursday, with midcap stocks marking a ten-month high. Market participants evaluated a mix of corporate results and monetary policy outlooks as macroeconomic indicators pointed toward subdued consumer activity.
Oil and gas shares moved slightly upward after Shell (LON:SHEL) issued a statement refuting claims of merger discussions with BP (LON:BP.). The denial helped maintain stability across energy stocks, with both companies witnessing moderate positive movement. The development brought attention back to the sector’s broader performance and strategy rather than speculative commentary.
The broader FTSE landscape also saw attention on shifts in global interest rate expectations. Reports around early nominations for the leadership of the U.S. Federal Reserve intensified discussions across global financial markets, adding another layer to recent rate speculation.
Among the decliners, Moonpig Group (LON:MOON), which operates in the online greeting card and gifting sector, saw a downturn. The move followed cautious sentiment surrounding consumer-facing technology platforms amid evolving retail dynamics.
Next 15 Group (LON:NFG), a digital marketing and consultancy firm, also experienced a drop in performance. The shift coincided with ongoing reviews of media and communications sector revenues in the face of restrained advertising budgets and continued digital transition pressures.
Despite weaker-than-anticipated retail data, the pound maintained upward momentum, which contributed to shifts in equity allocations across select sectors. This currency strength added complexity to the earnings outlook for companies with a significant international presence.
While the larger caps on the FTSE 100 reflected moderate gains, the standout movement occurred in the FTSE 250, driven by positive reactions to earnings announcements and broader sector recalibrations.
Overall, market direction on the day was shaped by a blend of corporate updates, central bank developments abroad, and the currency's resilience in the face of tepid domestic economic signals.
