London, July 3, 2026, 10:01 BST
- FTSE 100 (INDEXFTSE:UKX) reached 10,701.32 and then pulled back to 10,630.61, down 0.21% as of 09:38 BST. FTSE 250 (INDEXFTSE:MCX) stayed just above 23,471.
- UK services PMI dropped to 48.8 in June, hitting its lowest since January 2023. Hiring declined for the 21st straight month.
- Miners and utilities led gains early as U.S. cash markets stayed closed for Independence Day.
LONDON – The FTSE 100 (INDEXFTSE:UKX) backed off a four-month high on Friday after data raised worries about UK growth. The FTSE 250 (INDEXFTSE:MCX) held up better.
The London Stock Exchange traded regular Friday hours, open from 8:00 a.m. until 4:30 p.m. BST. U.S. cash markets stayed closed for Independence Day, so London missed the usual stream from New York in the afternoon.
Traders watched the FTSE 100 touch 10,701.32 before dropping 71 points to 10,630.61 at 09:38 BST, nearly erasing the early climb and coming close to the session’s low. The index stayed within 3% of its 52-week high at 10,934.94, but the early momentum faded quickly.
| Gauge | Latest cited level | Day clue |
|---|---|---|
| FTSE 100 (INDEXFTSE:UKX) | 10,630.61 at 09:38 BST | Off 0.21% so far; peaked at 10,701.32 |
| FTSE 250 (INDEXFTSE:MCX) | 23,471.13 at 09:46 BST | Added around 0.23% since last close |
| FTSE All-Share (INDEXFTSE:ASX) | 5,709.96 | Gained 0.17% on Google Finance figures |
The split is key since the FTSE 250 holds fewer global companies than the FTSE 100, so it’s seen as a clearer read on UK demand risk. The index did rise, but that came even as a soft services survey landed.
S&P Global’s UK services PMI slipped to 48.8 in June from 49.3 in May, staying under the key 50 mark that signals contraction. The composite PMI got cut to 49.3, its lowest since April 2025. “June data confirmed a clear loss of momentum for the UK economy,” said Tim Moore, economics director at S&P Global Market Intelligence. Reuters
| UK signal | Latest | Prior / context |
|---|---|---|
| Services PMI | 48.8 | 49.3 in May; lowest since Jan. 2023 |
| Composite PMI | 49.3 | 49.7 in May; weakest since Apr. 2025 |
| Hiring | Fell for 21st straight month | Biggest run of losses since Feb. 2010 |
Utilities and miners outpaced other groups, a move traders linked more to rates and commodities than UK demand. Trading Economics pointed to utility names leading, with SSE (LON:SSE) up about 2.5%, National Grid (LON:NG) higher by 1.5%, Centrica (LON:CNA) up 1.1%, and Severn Trent (LON:SVT) a bit over 0.5%. Fresnillo (LON:FRES) picked up more than 2%, while Antofagasta (LON:ANTO) and Anglo American (LON:AAL) both added just above 1%.
London started higher. Alliance News said Fresnillo rose 1.6%, Glencore (LON:GLEN) gained 1.1%, Anglo American up 0.9% and Antofagasta advanced 0.6%. Gold traded at $4,182.88 an ounce early Friday. Brent crude was at $71.85 a barrel, up from $70.76 Thursday.
Small and mid-cap moves stood out. Entain (LON:ENT) dropped 1.7% after JPMorgan lowered its price target. Close Brothers Group (LON:CBG) ran up 5.0% on a Shore Capital upgrade to “buy”. Craneware (LON:CRW) tumbled 20% after its revenue and adjusted EBITDA warning. RC365 Holding (LON:RCGH) surged 25% following news of a strategic partnership. Lse
FTSE 100 jumps 1.7% as AstraZeneca deal lifts healthcare; defence stocks gain FTSE 100 finished Thursday up 1.7% at 10,652.9, hitting its highest point since late April. The FTSE 250 added 0.4% to touch a two-week high. Healthcare stocks jumped 4.4%, led by AstraZeneca (LON:AZN), which climbed 4.9% after announcing a deal valued at up to $1.77 billion with CSPC Pharmaceutical Group (HKG:1093). Defence names such as BAE Systems (LON:BA), Rolls-Royce (LON:RR), and Babcock International (LON:BAB) rose between 1% and 7.1%.
Swissquote analyst Ipek Ozkardeskaya said, “Futures are positive this morning, as softer Fed expectations are good news for everyone.” Thursday’s U.S. payrolls print eased some of the worries about higher Fed rates. With the U.S. market closed on Friday for a holiday, cross-market pricing was thinner. Lse
Andreas Lipkow, chief market analyst at CMC Markets, said in a note that “weaker UK services PMI data and the US market holiday may keep volumes subdued.” The result was a quieter day in London, with the FTSE 100 hovering near record highs while the services sector, the biggest part of the UK economy, stayed in contraction. Cmcmarkets
