London's FTSE 100 erased early losses to trade slightly higher at around 10,590 on Friday, hovering near its highest level since July 8 and putting the index on track for a weekly gain of roughly 0.9%.
The UK benchmark also outperformed its European peers, as the global technology sell-off had only a limited impact.
Unlike many major indices, the FTSE 100 has relatively little exposure to technology stocks and is instead heavily weighted toward defensive consumer and healthcare companies, sectors that appear to be in demand today.
On the corporate front, Burberry fell 5%, making it the weakest performer on the index after its Q2 earnings came in slightly below market expectations.
On the political front, Andy Burnham is expected to be confirmed as the new Labour leader later today, positioning him to become the UK's next prime minister next week.
Investor focus is now shifting to his choice of Chancellor.