UK Market Sinks Amid Heathrow Power Outage and Airline Stocks Plummet

UK shares dropped on Friday due to a power outage at Heathrow Airport, disrupting major travel. FTSE 100 and FTSE 250 both fell slightly. Airline stocks, including British Airways-owner IAG, declined significantly. Despite the disruptions, ASOS experienced a notable increase. Inflation data is eyed for next week.

UK shares tumbled on Friday as a power outage at Heathrow Airport caused significant travel disruptions, leading to a slump in travel and leisure stocks.

Both the FTSE 100 and FTSE 250 saw slight declines, with the former down 0.46% and the latter decreasing by 0.47%. The outage, stemming from a fire at a nearby electrical substation, hit British Airways-owner IAG hard, causing its shares to slide by 1% amidst widespread flight disruptions.

The travel and leisure sector recorded substantial losses, particularly affecting major carriers including Wizz Air and EasyJet. Meanwhile, JD Sports Fashion and J D Wetherspoon also reported sharp declines. Next week, attention shifts to inflation data and the government's budget update.

(With inputs from agencies.)