London, July 7, 2026, 10:06 BST
- FTSE 100 up 0.44% at 10,698.60; FTSE 250 almost flat at 23,513.85 on delayed quotes.
- Shell rose after stronger gas-trading guidance; Unilever and BP gained while miners fell.
- Keller and Victrex jumped on company updates; Capita and ITV led the All-Share fallers.
- Trading Economics forecasts put its UK GB100 gauge below the current level by end-Q3 and in 12 months.
Britain’s FTSE 100 (INDEXFTSE:UKX) rose on Tuesday, but the cleaner trade was the split between global earners and the domestic tape. The blue-chip index was up 0.44% at 10,698.60 on delayed quotes, while the more UK-exposed FTSE 250 (INDEXFTSE:MCX) was up just 0.04% at 23,513.85. The London Stock Exchange was open for its normal Tuesday cash session, from 8:00 a.m. to 4:30 p.m. BST.
That gap matters for investors. The headline FTSE move looked firm, but it leaned on oil, consumer staples and stock-specific upgrades rather than a broad UK demand trade. Trading Economics’ GB100 gauge, used as a FTSE 100 proxy, was near 10,698, about 2.2% below its February all-time high of 10,934.94, yet still above the forecaster’s end-Q3 and 12-month estimates.
Shell Plc LON:SHEL did much of the work, rising 3.21%. The oil major raised its second-quarter integrated gas production guidance to 610,000-650,000 barrels of oil equivalent per day and said integrated gas trading and optimisation would be “significantly higher” than in the first quarter. Reuters reported the output range was still below the first quarter’s 909,000 boed, after disruption tied to the Middle East conflict and a Pearl gas-to-liquids shutdown in Qatar. HL
BP Plc LON:BP rose 1.49% and Unilever Plc LON:ULVR gained about 2.8%-2.9%, while miners pulled the other way. Anglo American Plc LON:AAL fell 2.43%, Antofagasta Plc LON:ANTO lost 2.18% and Rio Tinto Plc LON:RIO was down 1.85%.
The sharper moves came below the headline index. Keller Group Plc LON:KLR jumped 19.09% and Victrex Plc LON:VCT rose 17.18%. Capita Plc (LON:CPI) fell 14.00%, while ITV Plc (LON:ITV) dropped 6.48%.
Keller said North America had materially beaten management expectations, helped by infrastructure and data-centre demand, and that 2026 revenue and underlying operating profit should be materially ahead of current consensus. Chief Executive James Wroath said North America had delivered “an exceptional performance across the US and Canada.” Company-compiled consensus had pointed to 2026 revenue of 3.15 billion pounds and underlying operating profit of 223 million pounds. Investegate
Victrex said third-quarter revenue rose 18% from a year earlier and volumes rose 17%, with aerospace and electronics as the main drivers. It kept full-year underlying pretax profit guidance at 42 million pounds to 44 million pounds. Chief Executive James Routh said revenue growth came from “improvement across several end markets.” Investegate
ITV fell after Reuters reported Comcast Corp’s NASDAQ:CMCSA Sky had agreed to buy ITV’s broadcast channels and streaming business for 1.6 billion pounds. ITV is due to receive 1.2 billion pounds upfront and up to 200 million pounds tied to advertising performance, with most of the proceeds set to be returned to shareholders.
Deal interest still gave the UK market some support in the background. On Monday, easyJet Plc (LON:EZJ) gained 9.3% after it accepted in principle a sweetened Castlelake offer valuing the airline at up to 5.5 billion pounds. David Morrison, senior market analyst at Trade Nation, told Reuters there was “plenty of U.S. money” looking at UK assets and called UK companies “a good opportunity” for buyers. Reuters
The domestic read-through was weaker. Lloyds Banking Group Plc LON:LLOY said UK house prices rose 0.2% in June, the first monthly rise in four months, with the average home at 299,330 pounds. Annual growth was 0.6%, below a Reuters poll forecast of 0.8%. Amanda Bryden, head of mortgages at Lloyds, said “affordability remains stretched.” LLOYDS
| Market gauge | Latest check | Forecast or consensus | Gap investors are pricing |
|---|---|---|---|
| UK GB100 / FTSE 100 proxy | 10,698 | 10,485 end-Q3; 9,907 in 12 months | About 2.0% downside to Q3 forecast; about 7.4% to 12-month forecast |
| GBP/USD | $1.3390 | $1.34 end-Q3; $1.36 in 12 months | Little near-term currency help; about 1.6% upside on 12-month forecast |
| UK house prices | +0.6% year on year | Reuters poll: +0.8% | 0.2 percentage point miss versus forecast |
| Keller 2026 | Shares +19.09% | Consensus before update: 3.15 billion pounds revenue; 223 million pounds underlying operating profit | Company now sees both materially ahead of consensus |
Gilts gave local equities less cover. The UK 10-year gilt yield was at 4.82% on Tuesday, while Bank Rate stood at 3.75% ahead of the Bank of England’s July 30 decision. Reuters said financial markets priced about a 75% chance of a 25-basis-point UK rate rise within a year.
