Investing.com -- British stocks higher on Thursday as a ceasefire between Israel and Iran held, while in major corporate news, Shell (LON:SHEL) denied a report that it is pursuing a bid for BP (LON:BP), saying no talks are underway.

As of 1244 GMT, the blue-chip index FTSE 100 gained 0.3% and the British pound rose 0.5% against the dollar to above $1.37. 

DAX index in Germany rose 0.4%, the CAC 40 in France gained 0.06%.  

BoE’s Bailey: rising inflation adds uncertainty

Bank of England Governor Andrew Bailey said that a recent rise in inflation has added uncertainty to the outlook for price growth.

He also noted growing signs of slack in the UK economy, particularly in the labor market, as the central bank considers its next move on monetary policy.

ABF warns Vivergo bioethanol unit faces shutdown

Associated British Foods PLC (LON:ABF) said that its bioethanol division, Vivergo, is at risk of closure due to regulatory challenges and a new U.K.-U.S. trade agreement permitting duty-free imports of American ethanol.

The company cautioned that without immediate financial support and a long-term plan from the U.K. Government, the unit may be forced to shut down; formal talks with officials are underway, but employee consultations have begun and wheat purchases were halted on June 11.

Shell denies BP takeover plans

Shell firmly denied on Thursday that it plans to acquire BP, stating it is neither pursuing nor actively considering such a takeover.

The denial comes after a Wall Street Journal report on Wednesday claimed Shell was in discussions to acquire its rival. Under U.K. regulations, Shell’s statement prevents it from making a formal offer for BP for the next six months.

Inchcape maintains 2025 guidance

Inchcape PLC (LON:INCH) reaffirmed its full-year 2025 guidance in a trading update ahead of its half-year results, citing expected growth driven by second-half product launches.

Inchcape anticipates some impact from tariffs on supply, demand, and market competition. The company forecasts higher earnings per share growth driven by profit increases and ongoing share buybacks.

About £150 million of its planned £250 million buyback program has been completed, representing around 7% of outstanding shares.

Serco raises revenue outlook 

Serco (LON:SRP) raised its full-year revenue forecast to £4.9 billion after a strong first-half performance. The company projects first-half revenue of £2.4 billion, reflecting 2% year-over-year growth, with both organic growth and acquisitions contributing 2% while currency factors reduced reported revenue by 2%.

Serco increased its guidance for full-year organic revenue growth from flat to around 1%, citing higher volumes in immigration services and new defence work in the UK. The revenue forecast now ranges from £4.8 billion to £4.9 billion, compared to the previous estimate of approximately £4.8 billion.

Despite the revenue upgrade, Serco maintained its full-year underlying operating profit forecast at approximately £260 million.

Moonpig CEO exits, 2026 EPS outlook positive

British greeting card and gifting retailer Moonpig (LON:MOON) announced Thursday that CEO Nickyl Raithatha will leave the company after seven years of service.

The company also shared its financial outlook, projecting an 8% to 12% increase in adjusted earnings per share for 2026.

Moonpig reported its adjusted earnings per share grew 18.1% to 15 pence in 2025.

The retailer, known for its personalized greeting cards and gifts, did not provide details about succession plans or the exact timing of Raithatha’s departure.

(This story will be updated)