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%
