May 17 (Reuters) – London’s FTSE 100 slipped for a second session on Wednesday, as the London Stock Exchange Group (LSEG) slid after an investor consortium sold shares in the market operator while Experian slumped 5% following its lacklustre annual forecast.
The London Stock Exchange Group (LSEG.L) dropped 4.1% after U.S. buyout firm Blackstone (BX.N) and Thomson Reuters (TRI.TO) sold shares worth around 2.7 billion pounds ($3.41 billion) of the financial market operator, according to Barclays Bank.
The financial services sector (.FTUB3020) slid 1.1% while the broader FTSE 100 (.FTSE) shed 0.1%.
Shares of Experian Plc (EXPN.L) slipped after the credit data firm forecast annual organic revenue to grow between 4% and 6%, while analysts were expecting a 5.8% growth.
“In early trade, the market looks to be taking a cautious approach (with Experian’s shares),” said Steve Clayton, head of equity funds, Hargreaves Lansdown.
“The group is exposed to the growth of lending appetite among U.S. banks. So, the recent struggles of U.S. regional banks could hold Experian back a little in the near term.”
UK-listed equities have been range-bound since late-April as multiple factors rattled investors, including domestic inflation, a weak outlook for commodity-linked stocks and the risk of a U.S. debt default.
The FTSE 250 (.FTMC) slipped 0.6% as caution lingered with investor focus on whether the outcome of the U.S. debt-ceiling negotiations would result in averting a default.
Among other movers, Watches of Switzerland Group Plc (WOSG.L) slumped 7.4% on a marginal sales decline in the first quarter.
British Land Co Plc (BLND.L) fell 4.6% to a near seven-month low after the real-estate firm reported a drop in its property valuations as high interest rates weighed on the sector.
Ninety One Plc (N91.L) fell 4.8% and logged its worst performance for the year after posting an annual decline in assets under management.
Bucking the sombre mood, Sage Group Plc (SGE.L) rose 3.6% after upgrading its annual organic recurring revenue growth forecast.
Reporting by Johann M Cherian in Bengaluru; Editing by Sherry Jacob-Phillips
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