(Sharecast News) - London's FTSE 100 was down 0.5% at 8,125.77 in afternoon trade on Tuesday.
Insurer Beazley was under the cosh amid worries about the impact of Hurricane Beryl.
Sainsbury's was also in the red as it reported a slowdown in first-quarter like-for-like sales growth on the back of declines in general merchandise sales and at its Argos division.
Total retail sales excluding fuel increased by 2.6% year-on-year in the 16 weeks to 22 June, with like-for-like sales rising by 2.7%. That's down from the 4.8% LFL growth seen in the fourth quarter of the previous financial year and 7.4% growth in the third.
On the upside, 3i Group was among the gainers after Citi lifted its price target on the shares to 3,800p from 2,650p, implying around 25% upside.
"We value 3i Group's 55% stake in Action, a pan-European discount retailer, at £30bn. This is in line with 3i Group's £30bn market cap and excludes upside from a potential expansion outside of Europe," it said.
"We estimate 7%+ LFL sales growth until 2030 and 15%+ sales growth, while Action's fast inventory turnover and negative working capital makes this growth self-funding," it said.
"We model 3i Group receiving £14bn of dividends from Action by 2031."
FTSE 100 - Risers
Persimmon (PSN) 1,401.00p 2.11%
International Consolidated Airlines Group SA (CDI) (IAG) 166.95p 1.86%
BP (BP.) 486.25p 1.62%
Barratt Developments (BDEV) 485.00p 1.51%
3i Group (III) 3,030.00p 1.47%
Croda International (CRDA) 3,945.00p 1.18%
National Grid (NG.) 894.80p 1.06%
NATWEST GROUP (NWG) 318.10p 0.98%
easyJet (EZJ) 453.00p 0.82%
Flutter Entertainment (DI) (FLTR) 14,770.00p 0.82%
FTSE 100 - Fallers
Beazley (BEZ) 655.50p -4.52%
BT Group (BT.A) 137.70p -2.55%
Anglo American (AAL) 2,374.00p -2.40%
CRH (CDI) (CRH) 5,636.00p -2.32%
Smurfit Kappa Group (CDI) (SKG) 3,466.00p -2.15%
Mondi (MNDI) 1,494.50p -2.10%
Frasers Group (FRAS) 858.00p -2.00%
Compass Group (CPG) 2,131.00p -1.93%
Standard Chartered (STAN) 718.40p -1.88%
Sainsbury (J) (SBRY) 253.00p -1.86%