London’s FTSE 100 was down 0.7% at 7,036.66 in afternoon trade on Friday.
Lloyds was the biggest loser on the index, closely followed by Russian steelmaker Evraz and pharma group AstraZeneca.
British Airways and Iberia parent IAG and engine maker Rolls-Royce were both higher, recovering from heavy losses in the previous session.
Education publisher Pearson was also in the black after Citi said the overall risk/reward on the stock “tilts positively”.
The bank, which rates the shares at ‘buy, said there is a risk in the run-up to Q3 that Pearson investors “miss the wood for the trees”.
Citi noted that for the first time in more than a decade, there is a prospect of enrolment growth in US higher education. It also said that Pearson+ will likely be additive to growth over time and could be a catalyst for a re-rating.
Finally, the bank said the recent selloff in the shares has created an “interesting valuation opportunity”.
FTSE 100 – Risers
International Consolidated Airlines Group SA (CDI) (IAG) 184.66p 3.45%
Pearson (PSON) 727.80p 2.25%
Rolls-Royce Holdings (RR.) 143.18p 2.17%
Burberry Group (BRBY) 1,849.50p 1.90%
Compass Group (CPG) 1,551.00p 1.77%
ITV (ITV) 108.35p 1.64%
National Grid (NG.) 895.70p 1.25%
Coca-Cola HBC AG (CDI) (CCH) 2,428.00p 1.21%
Fresnillo (FRES) 790.60p 1.18%
Whitbread (WTB) 3,355.00p 1.18%
FTSE 100 – Fallers
Lloyds Banking Group (LLOY) 45.06p -3.24%
Evraz (EVR) 576.00p -3.10%
AstraZeneca (AZN) 8,734.00p -2.50%
Hikma Pharmaceuticals (HIK) 2,390.00p -2.45%
B&M European Value Retail S.A. (DI) (BME) 576.80p -2.34%
Persimmon (PSN) 2,607.00p -2.29%
British American Tobacco (BATS) 2,551.50p -2.02%
Intertek Group (ITRK) 4,881.00p -1.93%
M&G (MNG) 200.00p -1.77%
Tesco (TSCO) 248.90p -1.74%
