FTSE CLOSE: Footsie weak as Pearson struggles on lacklustre results; oil stocks suffer
17.15 (close): London's top-flight index sunk into the red as investors punished education publisher Pearson over a lacklustre set of results.
The FTSE 100 Index dropped back below the 7,000 mark, down 66 points to 6,947.55, with the former owner of the Financial Times leading the market lower after reporting a seven per cent drop in underlying global sales in the nine months to September.
Pearson said declining revenues in its higher education courseware business had taken investors by surprise, with shares slipping more than eight per cent or 70p to 762.5p.
Oil majors were also weighing... read more
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