UK shares mixed as investors assess corporate news, dealmaking

By Twesha Dikshit

July 2(Reuters) - London's blue-chip stock index edged higher and the midcap index fell on Wednesday as investors assessed a mixed bag of corporate news, including a media report that AstraZeneca is moving its listing to the U.S.

The blue-chip FTSE 100 .FTSE added 0.2% while the domestically focussed midcap index .FTMC fell 0.5% by 0930 GMT.

FTSE's most valuable company AstraZeneca is considering moving its listing to the U.S., the Times reported on Thursday, citing multiple sources.

“The CEO seems frustrated at the lack of financial support to open new laboratories and manufacturing facilities in Europe and might see a full U.S. stock listing as a stepping stone to receiving better treatment Stateside," said Dan Coatsworth, investment analyst at AJ Bell.

The UK stock market has lost out on major initial public offerings in recent months including money transfer firm Wise WISEa.L and online fast fashion retailer Shein, with Brexit-related challenges pressuring UK market valuations.

Gains on Wednesday were led by industrial metals and mining stocks .FTNMX301010 tracking higher metal prices. Glencore GLEN.L rose 3.2% and Ferrexpo FXPO.L and Antofagasta ANTO.L were both up 2.3%.

Oil and gas companies .FTNMX601010 gained 1.6%, with heavyweights BP BP.L and Shell SHEL.L adding 2.2% and 1% each.

Among individual stocks, Spectris SXS.L gained 4.6% after the firm agreed to a debt-inclusive 4.7 billion pounds ($6.46 billion) offer from KKR KKR.N over Advent's rival offer.

Bytes Technology BYIT.L slumped 26% to the bottom of the midcap after warning of lower operating profit for the first half of 2026.

British fast food chain Greggs GRG.L fell 14.1% on saying its annual operating profit could dip as a heatwave in the UK discouraged customers from eating out.

Restaurant chain operator SSP Group SSPG.L climbed to the top of the midcap index, rising almost 8% after filing for Indian IPO of airport lounge operator Travel Food Services.

 For related prices, Reuters users may click on -  UK stock report     .L     FTSE index:         0#.FTS6  techMARK 100 index: .FTT1X         FTSE futures:     0#FFI:  Gilt futures:       0#FLG:         Smallcap index:    .FTSC  FTSE 250 index:     .FTMC          FTSE 350 index:    .FTLC  Market digest:      .AD.L          Top 10 by vol:     .AV.L  Top price gainers:  .NG.L          Top % gainers:     .PG.L  Top price losers:   .NL.L          Top % losers:      .PL.L 
     For related news, click on - UK hot stocks:      HOT and GB     Wall Street:          .N Gilts report:       GB/            Euro bond report GVD/EUR Pan European stock report: .EU Tokyo stocks:       .T             HK stocks:           .HK Sterling report:    GBP/           Dollar report:      USD/
     For company prices, click on - Company directory:  UKEQ          By sector:          FTAX 
     For pan-European market data, click on - European Equities speed guide................ EUR/EQUITY  FTSE Eurotop 300 index........................... .FTEU3  DJ STOXX index................................... .STOXX  Top 10 STOXX sectors........................ .PGL.STOXXS  Top 10 EUROSTOXX sectors................... .PGL.STOXXES  Top 10 Eurotop 300 sectors.................. .PGL.FTEU3S  Top 25 European pct gainers.................... .PG.PEUR  Top 25 European pct losers..................... .PL.PEUR