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FTSE 100 movers: Pearson pushes higher on update; Prudential in the red
(Sharecast News) - London's FTSE 100 was up 0.6% at 7,011.05 in afternoon trade on Monday, as Rishi Sunak became the UK's next prime minister. Pearson surged after reaffirming its expectations for full-year sales and adjusted operating profit as it posted a 7% jump in third-quarter underlying sales.
AJ Bell financial analyst Danni Hewson said: "Education publisher Pearson's digital transition continues to pay off. Despite inflationary pressures, the company was able to keep full-year guidance in place as third quarter underlying sales saw solid growth.
"The company's English language learning products are notably enjoying strong demand and the robust update suggests that after a difficult decade and transition from big academic textbooks to a more internet-based offering, Pearson is in a good position."
Auto Trader rallied after saying it had sold its Webzone subsidiary to Mediahuis Ireland for €30m.
On the downside, Asia-focused Prudential was the worst performer on the index following heavy losses in Asian markets.
FTSE 100 - Risers
Pearson (PSON) 957.80p 7.93% SSE (SSE) 1,516.00p 4.55% Whitbread (WTB) 2,683.00p 4.44% Auto Trader Group (AUTO) 507.20p 4.32% Unite Group (UTG) 875.00p 3.86% Rightmove (RMV) 476.40p 3.77% Persimmon (PSN) 1,261.50p 3.53% Spirax-Sarco Engineering (SPX) 10,660.00p 3.50% Centrica (CNA) 69.60p 3.33% RS Group (RS1) 972.00p 3.29%
FTSE 100 - Fallers
Prudential (PRU) 806.80p -8.98% Anglo American (AAL) 2,660.50p -2.69% Antofagasta (ANTO) 1,119.50p -2.48% Fresnillo (FRES) 700.20p -2.48% Rio Tinto (RIO) 4,718.00p -1.81% Glencore (GLEN) 494.15p -1.58% HSBC Holdings (HSBA) 470.70p -1.50% Standard Chartered (STAN) 559.40p -1.34% Ocado Group (OCDO) 478.40p -1.28% Shell (SHEL) 2,321.00p -0.98%
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