London, July 17, 2026, 10:17 BST
- The FTSE 100 in London opened down 0.25% at 10,546.2, while the FTSE 250 declined 0.67%.
- European tech stocks lost 2.3%, and the STOXX 600 index declined roughly 0.6%.
- Shares in Burberry LON:BRBY dropped 5.2%, although quarterly comparable sales rose by 5%.
Britain’s FTSE 100 eased lower on Friday but outperformed both domestic mid-cap stocks and other European shares, despite a broader decline led by a global selloff in chip stocks.
The cushion stemmed from a persistent lack of technology holdings. On July 15, the iShares Core FTSE 100 UCITS ETF (LON:ISF) allocated just 0.96% to information technology.
As a result, London’s strength is seen as a composition trade rather than a wider rally across the UK market. The FTSE 250, with its domestic focus, was down 0.67% at 10:11 BST.
| Market | Level | Session change | Quote time |
|---|---|---|---|
| FTSE 100 | 10,546.2 | down 0.25% | 10:11 BST |
| FTSE 250 | 23,557.7 | down 0.67% | 10:11 BST |
| STOXX Europe 600 | 640.21 | off 0.55% | 09:21 BST, delayed |
| STOXX Europe 600 technology | — | fell 2.30% | 08:07 BST |
Times reflect the most recent Friday quotes provided by each source.
The 42-basis-point difference between London’s main indexes is the most obvious indicator. Blue chips were less affected by the technology shock.
European technology stocks were the main drag on Friday, as upbeat chip outlooks did little to offset worries over high valuations.
This trend was evident on Thursday, when the FTSE 100 rose by 0.5% as the Nasdaq 100 declined by 1.62%.
Chris Beauchamp, chief market analyst at IG Group LON:IGG, attributed the divergence to market rotation. “Market rotation has led investors to move funds out of chip and AI stocks and into sectors where these have less or no presence.” Reuters
Burberry highlighted the hedge’s shortcomings. Its shares slipped 5.2% by 10:16 BST, following a decline of over 6% earlier.
Comparable sales increased by 5%, with revenue totaling £455 million. Sales in the Americas climbed 12%, and China advanced 9%. In contrast, sales in Europe and the Middle East declined by 3%.
Chief Financial Officer Kate Ferry stated, “Tourism is where we’re noticing the most significant effect.” The market reaction indicates investors are still cautious regarding earnings linked to travel. Reuters
Oil applied fresh pressure, with Brent trading close to $84.35 and on track for a weekly rise of more than 10%.
Risks continue to be balanced. A recovery in chips may reduce London’s defensive position. A steeper increase in oil prices could dampen demand and put pressure on company margins.
At present, London’s limited exposure to technology is supporting the blue-chip index. The FTSE 250 points to continued softness in broader UK risk appetite.
