UK Shares Up as Oil Falls, UK-Poland Defense Treaty
UK shares rose as oil prices eased and a UK-Poland defense treaty was due to be signed; FTSE 100 up 0.2% to 10,509.08 and FTSE 250 up 0.8%.
Shares in London rose on Wednesday as oil prices fell and a UK-Poland defense treaty was set to be signed. The FTSE 100 was up 0.2% at 10,509.08 and the FTSE 250 rose 0.8% during mid-session trading in London.
The FTSE 100 recorded its eighth straight session of gains and traded about 4% below its late-February record high.
Oil prices declined after reports of progress in talks between the United States and Iran. Energy stocks fell, with Shell and BP each down about 2%.
Defense stocks gained ahead of the signing of the UK-Poland defense and security treaty. Rolls-Royce advanced about 2%, Chemring rose roughly 2.7%, and the defense sub-index increased about 1.3%.
Traders adjusted expectations for Bank of England policy, pricing in one 25-basis-point interest-rate rise before year-end and assigning about a 50% probability to a further similar increase.
A consumer behavior reading showed British grocery inflation slowed to 3.1% in the four weeks to May 17, the slowest pace since December 2024.
On the FTSE 250, Hollywood Bowl jumped nearly 15% after reporting higher spending per game in the UK and Canada and unveiling a £5 million share buyback program. Pets at Home rose 6.2% after reporting a return to sales growth in the fourth quarter and acceleration since then.
Amazon disclosed it invested more than £15 billion in Britain in 2025, covering site expansions, studio operations and drone delivery trials, part of a plan to invest £40 billion by 2027.
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