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UK equities mixed as investors assess tariff-related updates, company news
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UK equities mixed as investors assess tariff-related updates, company news
Jul 7, 2025 2:56 AM

(For a Reuters live blog on U.S., UK and European stock

markets, click or type LIVE/ in a news window)

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FTSE 100 unchanged, FTSE 250 rises 0.2%

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Oil and gas stocks lead sectoral losses

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Shell drops after trimming second-quarter forecast

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Ferrexpo ( FEEXF ) slides after iron-ore production falls

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Curry falls on RBC rating downgrade

July 7 (Reuters) - London's main stock indexes were

mixed on Monday as investors focused on corporate updates and a

three-week delay in higher U.S. tariff rates, alongside progress

on trade agreements.

The blue-chip FTSE 100 was flat by 0910 GMT, while

the domestically oriented midcap index rose 0.2% after

ending the previous week in the red.

U.S. President Donald Trump said on Sunday that Washington

was close to several trade agreements and would notify other

countries of higher tariff rates set to go into place on August

1, a delay from the July 9 deadline.

Oil and gas stocks weighed on the index,

dropping 2.6%, with energy giant Shell losing almost 3%

after trimming its second-quarter outlook for integrated gas

division and liquefied natural gas production ahead of full

results.

Other oil companies also came under pressure with oil prices

slipping after OPEC+ hiked output above expectations in August.

BP was down 1.9%. Diversified Energy, Harbour

Energy ( PMOIF ) and Ithaca Energy all fell over 1% on the

midcap.

Among individual stocks, miner Ferrexpo ( FEEXF ) slid 1.7%

as iron ore production fell after the discontinuation of

Ukraine's value-added tax refunds reduced operations.

Electricals retailer Currys ( DSITF ) fell 6.2% and led

midcap losses, after an RBC downgrade.

Online trading platform Plus500 was among the top

gainers on the FTSE 250 after positive second-quarter results.

Weir Group ( WEIGF ) was the top gainer on the blue-chip

after Citigroup raised its rating and price target.

On the data front, Halifax data showed that British house

prices stagnated in June from the previous month following the

increase in tax on property transactions from April.

In other news, British finance minister Rachel Reeves is set

to announce a 28.6 million pound ($39 million) investment into a

carbon capture project, which is expected to create jobs in

central and northern England.

($1 = 0.7325 pounds)

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