- FTSE 100 up 0.2%, FTSE 250 up 0.9%
- Rolls-Royce soars to record high after raising profit forecast
- Shell jumps after Q2 profit beats expectations
- Canada's Brookfield to buy UK's Just Group for $3.2 billion
- Mondi falls on lower first-half profit
July 31 (Reuters) - London's main stock indexes rose on Thursday, boosted by positive corporate updates from heavyweights such as Rolls-Royce, while investors assessed a blitz of tariff announcements.
The internationally oriented FTSE 100 gained 0.2% as of 0928 GMT, and was on track to log a monthly gain, boosted by hopes of a Bank of England rate cut and optimism over the UK-U.S. trade deal.
The domestically focused midcap FTSE 250 index rose 0.9%.
The aerospace and defence index led the sectoral gains, up 5.7%, boosted by Rolls-Royce that hit a record high and was last up 9.2% after raising its full-year operating profit and free cash flow outlook.
Ahead of the August 1 deadline, U.S. President Donald Trump released fresh levies ranging from updates on copper tariffs, goods from Brazil, South Korea and India, as well as ending exemptions for small-value overseas shipments.
Industrial miners led the sectoral decline, down 4.3%, tracking lower copper prices.
Glencore lost 4.3%, Anglo American down 4.8%, Antofagasta dropped 5.7% and Rio Tinto fell 4.1%.
Among corporate updates, Rentokil soared 9.6% after the pest control company kept its full-year outlook unchanged and posted half-yearly revenue growth of 3.1%.
St James's Place rose 7% after the wealth manager's half-yearly net inflows doubled and it also launched a new share buyback.
Shell's second-quarter net profit tumbled by almost a third, but exceeded analysts' forecasts. Shares of the oil major rose 1.9%.
Just Group surged 67.8% to top the FTSE 250 midcap index, after Canada's Brookfield Wealth Solutions agreed to acquire the insurer for 2.4 billion pounds ($3.18 billion).
Mondi fell 5.8% after the packaging firm posted a near 17% fall in first-half pretax profit.
London Stock Exchange Group fell 3.7% despite reporting better-than-expected first-half profit and announcing a share buyback for the second half.
Next week, the Bank of England is expected to cut borrowing costs for the fifth time since last August.
Reporting by Sukriti Gupta in Bengaluru; Editing by Vijay Kishore
Source: Reuters