London stocks gain on financials, retail boost
London stocks gain on financials, retail boost For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window
June 25 (Reuters) - London's main FTSE indexes edged higher on Thursday, with financial and retail companies posting strong business updates, while investor interest piqued after easyJet kept the door open to a Castlelake buyout.
The blue-chip FTSE 100 index .FTSE rose 0.3% by 0901 GMT, while the midcap FTSE 250 .FTMC climbed 0.7%. Both indexes were set to mark one-week highs.
Financials .FTNMX302020 led sectoral gains, up 3.4%, with private equity group 3i Group <III.L> adding 9.7% after its retail brand Action reported a 3.3% rise in like-for-like sales, as of 25 weeks ended June 21.
Greeting card retailer Moonpig <MOONM.L> jumped 10.3% after announcing upbeat annual pre-tax profits, as customers traded up to higher priced gifts.
Bicycles and car parts retailer Halfords <HFD.L> soared 16.1% after forecasting fiscal year 2027 profit towards the top end of analyst expectations.
British budget carrier easyJet <EZJ.L> rose 6.2% after rejecting a fourth, sweetened £4.93 billion ($6.50 billion) takeover proposal from U.S.-based investment firm Castlelake, but said it would grant the suitor limited access to commercial information in hopes of drawing a higher bid.
ITV <ITV.L> jumped 2.3% after Comcast CMCSA.O-owned Sky agreed on terms to buy the FTSE midcap's broadcast and streaming unit.
Advanced Medical Solutions Group AMSU.L shot up 16% after the medical supplier received a £715 million buyout deal, including debt, from U.S.-based adhesives maker H.B. Fuller FUL.N.
A key U.S. inflation report, which could offer clues into the monetary policy path ahead, is expected later in the day.
Traders anticipate the Bank of England to hike borrowing costs by 25 basis points by year-end, according to LSEG-compiled data.
In politics, Finance Minister Rachel Reeves announced her support for Andy Burnham, who is widely anticipated to become the UK's seventh prime minister in a decade two weeks from now.
($1 = 0.7582 pounds)
(Reporting by Johann M Cherian in Bengaluru; Editing by Harikrishnan Nair)
((johann.mcherian@thomsonreuters.com))