UPDATE 1-British mid-cap stocks close at over two-year high on earnings optimism For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window. FTSE 100 up 1.2%, FTSE 250 gains 2.3% US PCE in line with estimates Focus on Fed, BoE decisions next week Updated at 1620 GMT July 26 (Reuters) - British mid-cap stocks rallied to their strongest finish in more than two years on Friday, helped by a slew of upbeat company earnings reports and a rebound on Wall

BUZZ-UK's Drax hits over 1-year high on sturdy H1 results, buyback ** Shares of power generator Drax DRX.L up 12.5% at 637.5 pence, its highest level since April 2023 ** Posts 37% growth in H1 pre-tax profits to 463 mln pounds ($595.3 mln) ** Also announces share buyback worth 300 mln pounds ** Sees 2024 adj core profit to be above analysts' consen

UPDATE 1-UK Stocks-Factors to watch on July 26 Adds new items, updates futures July 26 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening higher on Friday, with futures FFIc1 up 0 .2%. * NATWEST: NatWest's NWG.L first-half pretax operating profit fell by a less-than-expected 16% to 3 billion pounds ($3.86 billion), it said, with margins hit by mortgage market competition and savers shifting deposits to higher-paying products.

UPDATE 2-UK's Drax shares soar on profit rise, share buybacks Updates throughout with CEO comment, share price By Susanna Twidale July 26 (Reuters) - Shares in Drax DRX.L soared 15% on Friday morning after the British power generator posted a 37% rise in first-half profit and announced a 300 million pound ($386 million) share buyback programme. Britain's largest renewable power generator by output has converted four coal-power units to use biomass and operates hydro power projects.

BRIEF-Drax Announces 300 Mln Stg Share Buyback July 26 (Reuters) - Drax Group PLC DRX.L : DRAX GROUP PLC: IMPROVED OUTLOOK FOR 2024 AND £300M BUYBACK DRAX GROUP PLC: INTERIM DIVIDEND OF 10.4 P/SHARE (H1 2023: 9.2 P/SHARE) DRAX GROUP PLC: EXPECTED FULL YEAR DIVIDEND UP 12.6% TO 26.0 P/SHARE (2023: 23.1 P/SHARE) DRAX GROUP PLC: FULL YEAR 2024 EXPECTATIONS FOR ADJUSTED.