FTSE 100 Closes Higher at 10,600 as Utilities Support Index; FTSE 250 Falls
The UK’s benchmark FTSE 100 index gained 0.27% to close at 10,600.37 points on Friday, lifted by utility stocks and British American Tobacco. In contrast, the midcap FTSE 250 fell 0.47%, and luxury retailer Burberry shares slid 6.38% following its first-quarter trading update.
FTSE 100 Closes Higher While Midcap Index Declines
The UK’s benchmark FTSE 100 index finished the final trading session of the week higher, gaining 0.27% to close at 10,600.37 points, according to official order book data from the London Stock Exchange. The index added 28.13 points from its previous close of 10,572.24, recovering from an afternoon low of 10,527.65 reached during intraday trading.
In contrast, the midcap FTSE 250 index declined by 0.47% on the day, ending the session at 23,604.83 points. The daily drop ended a consecutive six-day upward trend for the midcap gauge, though both indices recorded a net positive performance of approximately 1.0% over the full trading week.
Defensive Sectors Support Blue-Chip Benchmark
Regulated utilities and defensive consumer stocks led the session’s gains, counterbalancing a broader technology-driven equities sell-off across international markets. According to closing data from the London Stock Exchange, power grid operator National Grid PLC (NG.) advanced 3.33% to close at 1,257.00p, while water supplier Severn Trent PLC (SVT) rose 2.89% to finish at 3,066.00p.
Consumer defensive and aerospace components also provided significant upward support to the large-cap gauge. Tobacco manufacturer British American Tobacco PLC (BATS) climbed 2.95% to close at 4,669.00p, gaining 134.00p on the session. Defense contractor BAE Systems PLC (BA.) rose 2.51% to finish the session at 1,880.00p, while integrated energy major Shell PLC (SHEL) closed up 2.41% at 3,236.00p.
Burberry Shares Fall on Segment Revenue Contraction
Burberry Group PLC (BRBY) finished as the largest percentage decliner on the FTSE 100, with its shares dropping 6.38% to close at 1,049.00p. The luxury fashion retailer issued its first-quarter trading update for fiscal year 2027 via the Regulatory News Service (RNS), reporting total retail sales of £455 million for the three-month period, up from £433 million in the corresponding prior-year quarter.
However, the luxury retailer’s comparable sales within its Europe, Middle East, India, and Asia (EMEIA) geographic segment fell by 3%. The company stated that ongoing regional conflicts in the Middle East impacted international tourist spending in its European retail locations, offsetting a 12% retail expansion in the Americas and a 9% increase in Greater China.
Labour Party Leadership Transition Formally Scheduled
In domestic political developments, Andy Burnham was officially confirmed as the new leader of the governing Labour Party during a special conference at the Trades Union Congress in London on Friday, following an uncontested parliamentary selection process. Burnham updated his official status to Leader of the Labour Party and Member of Parliament for Makerfield.
According to the official transition timeline published by the BBC, Sir Keir Starmer will formally tender his resignation to King Charles III on Monday, 20 July 2026. Burnham is scheduled to meet with the King immediately afterward at Buckingham Palace to accept the mandate to form a government and officially assume office as Prime Minister.
