Why did the FTSE 100 remain nearly flat despite strong gains in energy and utilities stocks?

The FTSE 100 was little changed because gains in energy stocks (up 1.7%) and utilities (up 2%) were offset by declines in financial shares—particularly banks like Barclays, Lloyds Banking Group, and Standard Chartered, which fell between 1% and 1.6%—and a sharp 4.3% drop in the personal goods sector after Burberry warned that Middle East conflict was hurting tourist spending in Europe.

What key political development is highlighted in the news, and what does it signify for UK leadership?

Andy Burnham is set to become the next UK prime minister after becoming leader of the governing Labour Party—the final step before assuming office as Britain's seventh prime minister in a decade—on a pledge to counter the rise of the populist Reform UK.

UK FTSE 100 Flat as Energy Gains Offset Banks; Burnham Set to Become Prime Minister

Jul 17, 2026

Energy stocks rose on higher oil prices amid Middle East tensions, while GSK halted a late-stage drug trial. Meanwhile, Andy Burnham is set to become Britain's next prime minister.

reuters

2026-07-17

UK FTSE 100 Flat as Energy Gains Offset Banks; Burnham Set to Become Prime Minister

UK FTSE 100 Flat as Energy Gains Offset Banks; Burnham Set to Become Prime Minister

FAQ