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FIVE AT FIVE: Tech rout wipes 2% off the Nasdaq, LSEG jumps on its Octus deal and Inchcape loses 9%

Meta spooks Wall Street, a supermarket disappoints and a car distributor takes a bruising

The image depicts the Nasdaq building in Times Square, New York City, illuminated with vibrant blue lighting during twilight. Reflections of traffic and nearby skyscrapers can be s — Credit: AI-generated (ChatGPT)
AI-generated (ChatGPT)
  1. The FTSE 100 closed 29 points lower at 10,725.03, a relatively contained finish given the wider bloodletting, as the Nasdaq tumbled 2.2% after Meta fell nearly 6% on concerns about surging capital expenditure, with Brent crude pushing above $111 a barrel adding to the pressure.
  2. LSEG, the London Stock Exchange Group, jumped 4% after confirming its $3.5 billion acquisition of Octus, the credit data provider, alongside a raised full-year guidance that gave the City more confidence in the earnings trajectory.
  3. Sainsbury's, the UK supermarket group, fell 4% as softer second-quarter grocery growth took the shine off an otherwise solid half-year beat.
  4. Barclays held steady after a profit beat, though UBS flagged a miss in fixed income, currencies and commodities trading as a note of caution for the investment bank's franchise.
  5. Inchcape, the automotive distribution group, shed 9% after weakness in its Australian operations forced a cut to margin guidance.

That's your five for Thursday.