LONDON, July 16, 2026, 14:03 BST — London stocks were trading after the open. Regular session ends at 16:30.
- FTSE 100 slipped 0.34%, while the FTSE 250 edged up 0.33%.
- A takeover name put about 132 points on the index estimate.
- UK GDP was up 0.1% in May, according to the Office for National Statistics.
FTSE 250 edged up Thursday, with Rotork plc LON:ROR making up more than all of that move. Rotork soared 66.85% after ABB Ltd SWX:ABBN offered a £4.14 billion cash deal. FTSE 100 slipped 0.34%.
This is worth noting since the move wasn’t matched by widespread buying in mid-caps. As of May 31, Rotork made up 0.84% of Vanguard’s FTSE 250 tracker, and the stock’s jump pushed the index up by about 0.56 percentage point, or 132 points.
At snapshot time, the FTSE 250 was up just 77.92 points. A preliminary reporter estimate has the rest of the basket lower by around 54 points, or 0.23%. The headline number outpaced what was happening below the surface.
| Measure | Delayed reading | Change | Investor read |
|---|---|---|---|
| FTSE 100 | 10,479.76 | -36.16 / -0.34% | Big stocks slipped |
| FTSE 250 | 23,540.31 | +77.92 / +0.33% | Headline moved up |
| Rotork | 485.3p midpoint | +194.4p / +66.85% | Added about 132 points |
| FTSE 250 excluding Rotork | Preliminary estimate | -54 points / -0.23% | Rest of group down |
This delayed snapshot was taken just before 14:00 BST. The estimate assumes Rotork’s 0.84% tracker weight for May 31, and takes off the implied contribution from the published index move.
ABB put forward an offer of 506p for each Rotork share, dividend included. That’s 73% over where shares closed on Wednesday. The bid gives Rotork an equity value of £4.136 billion and puts enterprise value at £4.084 billion.
ABB shares dropped 4% in midday trading in Switzerland. ABB is buying Rotork at a 19.5x multiple on 2025 adjusted EBITDA. The company said it sees synergies pulling that figure down to the mid-teens level.
ABB CEO Morten Wierod said the company still has room for more deals. “We still have firepower to do more M&A deals,” Wierod said. ABB put its leftover acquisition capacity at $14 billion. Reuters
London had activity beyond Rotork on Wednesday. Gooch & Housego PLC (LON:GHH) took a 1,234.9-pence buyout offer, with its interim dividend counted in the price. That’s a 41.3% premium to Wednesday’s close.
KKR & Co Inc NYSE:KKR has bumped up its offer for DCC plc LON:DCC, with the fresh proposal now at £67.97 per share. The top price factors in £1.25 a share linked to a Nexora unit sale. DCC last traded at £63.55, so the latest bid is just under 7% higher.
Large-cap names lagged. Experian plc (LON:EXPN) dropped after holding its annual forecast steady. RELX PLC (LON:REL) also moved lower with tech stocks under pressure.
UK GDP edged up 0.1% in May, in line with the median forecast from economists. Services advanced by 0.3%. Production and construction both fell. The breakdown did little to fuel a wider move in mid-caps.
Risks: Rotork is trading around 4% under the 506p offer price. The deal aims to close in the first half of 2027. There are still conditions left, so any delay or issue could push the spread wider.
Thursday’s index split was a technical event for investors. The buying went into some UK assets but left much of the mid-cap market flat. That difference is important when traders look at the FTSE 250 for a read on UK growth.
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