FTSE 100 Rises as Utilities and Energy Stocks Surge Amid Middle East Tensions

London's FTSE 100 ends higher, driven by rising utilities and energy shares amplified by increasing oil prices amidst Middle East tensions. Andy Burnham's leadership as the Labour Party head brought political focus. The FTSE 100 climbed 0.3%, while the midcap FTSE 250 fell 0.5%, both achieving weekly gains.

London's FTSE 100 index recorded gains on Friday, driven by a surge in utility and energy shares. The rise in crude oil prices, due to escalating Middle East tensions, played a crucial role in the market's uptick.

Political developments also captured attention as Andy Burnham took the helm of the British Labour Party, introducing an element of political focus into the trading environment.

The FTSE 100 closed up 0.3% at 10,600.4 points, while the midcap FTSE 250 experienced a 0.5% drop, ending a six-day streak of positive momentum. Despite the mixed daily performance, both indexes registered overall gains for the week.