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UK shares gain with focus on corporate updates
Jul 1, 2025 9:53 AM

*

FTSE 100 up 0.28%, FTSE 250 gains 0.54%

*

AstraZeneca ( AZN ) rises after report says CEO eyeing U.S.

listing

*

Sainsbury's ( JSNSF ) shares slide despite a rise in quarterly sales

*

StanChart falls after facing $2.7 billion lawsuit

(Updates with market closing prices)

July 1 (Reuters) - UK's main stock indexes ended higher

on Tuesday as investors assessed a mixed bag of company news,

including a report that AstraZeneca's ( AZN ) CEO is considering moving

the company's listing to the U.S.

The internationally oriented FTSE 100 rose 0.28%,

while the domestically-focussed midcap index added

0.54%. Midcap stocks ended June by logging their best quarter in

over four years while the blue-chip index logged monthly losses.

Drugmaker AstraZeneca's shares rose 2.7% after

multiple sources told The Times that CEO Pascal Soriot was

considering moving the company's listing to the U.S.

Investors also analysed latest comments from Bank of

England Governor Andrew Bailey for cues on interest rate path.

Bailey said rising uncertainty in the global economy had hurt

economic growth and investment intentions, while highlighting

Britain's softening labour market.

Traders are currently pricing in a 78% chance of a rate

cut by the BoE in August.

Precious metal mining stocks led sectoral

gains, rising 2.4% as safe-haven gold jumped over 1% on weaker

dollar and U.S. tariff uncertainty.

Endeavour Mining ( EDVMF ) and Fresnillo added 2.8%

and 1%, respectively. Hochschild Mining gained 5.3%.

Meanwhile, losses were led by aerospace and defense index

, which declined 2.2%. Rolls-Royce fell 2.9% and

Babcock lost 2.5%.

On the data front, S&P's manufacturing PMI figures showed

that the sector improved for the third month in a row, but

remained below the growth threshold as businesses increased

prices to offset higher labour costs.

Among individual stocks, food retailer Sainsbury's ( JSNSF )

shares slid 1.1% despite reporting a higher-than-expected rise

in quarterly sales.

Standard Chartered Bank ( SCBFF ) shares fell 2% after

liquidators for Malaysia's sovereign wealth fund 1MDB sued the

bank in Singapore alleging fraud that led to more than $2.7

billion in losses more than 10 years ago.

In other news, Britain's competition watchdog cleared

Aviva's 3.7-billion-pound ($5.08 billion) takeover of

smaller rival Direct Line that will create the UK's

largest home and motor insurer. Shares of Aviva were up 0.8%,

while those of Direct Line rose 0.5%.

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