London’s FTSE 100 was down 1% at 7,401.27 in afternoon trade on Tuesday as investors mulled a hotter-than-expected US inflation print for August.
Ocado tumbled after the online supermarket warned of an expected fall in annual sales as customers start to tighten their belts amid the cost-of-living crisis.
Tesco was also in the red.
Going the other way, software company Aveva rallied following a report it is closing in on a takeover agreement with French industrial group Schneider Electric worth about £9bn. According to Sky News, the boards of the two companies and their advisers are discussing a price of more than £30-a-share for Schneider to acquire the roughly-40% of Aveva it does not already own.
FTSE 100 – Risers
Aveva Group (AVV) 3,038.00p 2.67%
Haleon (HLN) 266.90p 1.10%
Harbour Energy (HBR) 484.10p 0.83%
BAE Systems (BA.) 797.00p 0.81%
Unilever (ULVR) 4,050.50p 0.75%
Burberry Group (BRBY) 1,785.00p 0.68%
Compass Group (CPG) 1,935.00p 0.47%
National Grid (NG.) 1,080.50p 0.23%
BT Group (BT.A) 144.65p 0.10%
Imperial Brands (IMB) 1,953.00p 0.05%
FTSE 100 – Fallers
Ocado Group (OCDO) 690.20p -13.20%
Melrose Industries (MRO) 121.05p -4.42%
Kingfisher (KGF) 247.30p -3.74%
SEGRO (SGRO) 913.20p -3.53%
Frasers Group (FRAS) 826.00p -3.50%
Tesco (TSCO) 244.50p -3.40%
Taylor Wimpey (TW.) 107.00p -3.30%
Persimmon (PSN) 1,470.00p -3.26%Q
Next (NXT) 5,872.00p -3.17%
Scottish Mortgage Inv Trust (SMT) 823.80p -3.04%
