(Updates after markets close)
* FTSE 100 up 0.3%, FTSE 250 down 0.5%
* Burberry ( BBRYF ) slides as Middle East conflict hits tourist
spending
* Andy Burnham becomes British Labour Party leader
July 17 (Reuters) - London's FTSE 100 ended higher on Friday
as utilities shares rose and energy giants gained, tracking
higher crude oil prices amid escalating Middle East tensions,
while the focus was on politics as Andy Burnham became the
British Labour Party leader.
The blue-chip FTSE 100 index gained 0.3% at 10,600.4
points, while the midcap FTSE 250 dipped 0.5% to snap a
six-day winning streak. Both indexes, however, clocked weekly
gains.
* The United States struck bridges and an airport in Iran,
provoking Tehran to respond by hitting a power and desalination
plant in Kuwait.
* Energy stocks gained 2.1% as oil prices
rose on concerns over supply disruptions.
* Utilities rose 2.7%, leading sectoral gains,
while food, beverages and tobacco added 1.6%.
* Higher crude oil prices weighed on travel and leisure
, which fell 0.9%.
* Financial stocks were weaker with banks
down 0.4%, while investment bank and brokerage services
shed 1.5%.
* Personal goods fell 5% after Burberry ( BBRYF )
warned that the conflict in the Middle East was hurting
tourist spending in Europe, sending shares in the British luxury
brand down 6.4% despite strong sales growth in the United States
and China during the April-June quarter.
* On the political front, Burnhamwas elected leader of
Britain's governing Labour Party, the final step before becoming
its seventh prime minister in a decade on a pledge to thwart the
rise of the populist Reform UK.
* Among other stocks, GSK fell 2% after the
drugmaker said it would halt development of its experimental
treatment for refractory chronic cough after the therapy failed
a late-stage trial and missed key efficacy goals across multiple
dosages.