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2026-07-17 16:08:12
[FTSE 100 Bucks Trend, Up 0.9% for the Week; Limited Impact from Tech Sell-off] ⑴ The London FTSE 100 index erased early losses on Friday, rising slightly to around 10,590 points, hovering near its highest level since July 8th, and is on track for a weekly gain of approximately 0.9%. The index outperformed other European stock indices as the global tech sell-off had a limited impact. ⑵ Unlike most major stock indices, the FTSE 100 has a lower weighting in tech stocks and a higher weighting in defensive consumer and healthcare sectors, which were favored by the market today. Among individual stocks, Burberry fell 5%, the worst performer in the index, after its second-quarter results slightly missed market expectations. ⑶ Politically, Andy Burnham is expected to be confirmed as the new Labour Party leader later today and will become the new Prime Minister of the United Kingdom next week. Investors' focus is now shifting to the Chancellor of the Exchequer selection.
