{
  "id": 14940066,
  "title": "UK stocks set for weekly gains as investors seek shelter in defensive sectors",
  "url": "https://urgent.news/2026/10/16/uk-stocks-set-for-weekly-gains-as-investors-seek-shelter-in-defensive",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-16T11:18:47.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/stock-market-news/uk-stocks-set-for-weekly-gains-as-investors-seek-shelter-in-defensive-sectors-4953812"
  },
  "original_language": "en",
  "account": "Britain's main stock indexes were poised for weekly gains on Friday, as cautious investors shifted towards defensive sectors following a global sell-off in AI-related equities. The FTSE 100 index edged 0.08% lower to 10,831.70 points, but was on track for its best week since early April. The midcap FTSE 250 also rose by 0.55%.\n\nWithin this positive trend, the healthcare sector was poised for a near 5% gain throughout the week, even though it fell over 1% on Friday. Companies AstraZeneca and GSK experienced a decline of 1.8% and 1% respectively. Meanwhile, the personal goods sector saw a 7.2% increase for the week.\n\nHowever, banks were hit hard with their stocks sliding on Friday after the Guardian reported that British Finance Minister John Healey planned to impose taxes on the lenders during the upcoming budget. While international banks might be less vulnerable, UK-based institutions were at risk, according to Kathleen Brooks, research director at XTB. Banks NatWest Group and Lloyds Banking Group each fell by 2.2%.\n\nBank of England Governor Andrew Bailey indicated limited signs of second-round inflation ahead of the upcoming September data release. Traders were also factoring in four Bank of England rate hikes over the next 12 months, as per data from LSEG.\n\nDefence stocks played a crucial role in limiting Friday's losses. BAE Systems, Melrose Industries, and Babcock International saw gains ranging from 1.5% to 3.7%. E-commerce giant THG extended its surge of 16% from the previous day and rose by 6.7%. This surge was the result of THG raising its annual adjusted core profit forecast.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}