FTSE 100 Slips as Burberry, GSK Weigh on Index

2026-07-17 11:56 By Joana Ferreira 1 min. read

London's FTSE 100 fell 0.1% to 10,560 on Friday afternoon, underperforming earlier gains as a global technology sell-off weighed on European markets.

However, the index continued to outperform its regional peers thanks to its relatively limited exposure to technology stocks.

Burberry was the biggest decliner, falling 5% after reporting second-quarter earnings slightly below expectations and warning that the conflict in the Middle East was hurting tourist spending.

GSK also weighed on the index, with shares down 3.6%.

On the political front, Andy Burnham was confirmed as Labour leader and is set to become prime minister on July 20.

Investors are now awaiting his cabinet appointments, with Home Secretary Shabana Mahmood widely seen as the frontrunner for Chancellor.



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FTSE 100 Slips as Burberry, GSK Weigh on Index
London's FTSE 100 fell 0.1% to 10,560 on Friday afternoon, underperforming earlier gains as a global technology sell-off weighed on European markets. However, the index continued to outperform its regional peers thanks to its relatively limited exposure to technology stocks. Burberry was the biggest decliner, falling 5% after reporting second-quarter earnings slightly below expectations and warning that the conflict in the Middle East was hurting tourist spending. GSK also weighed on the index, with shares down 3.6%. On the political front, Andy Burnham was confirmed as Labour leader and is set to become prime minister on July 20. Investors are now awaiting his cabinet appointments, with Home Secretary Shabana Mahmood widely seen as the frontrunner for Chancellor.
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