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    PSON   GB0006776081


Delayed London Stock Exchange  -  11:35 2022-09-30 am EDT
866.80 GBX   +3.36%
09/30European ADRs Move Higher in Friday Trading
09/27JPMorgan Keeps Pearson at Overweight, Raises PT
09/21PEARSON PLC : Security operations
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

FTSE 100 closes down as oil stocks drop and sterling gains

08/01/2022 | 04:57am EDT

(For a Reuters live blog on U.S., UK and European stock markets, click or type LIVE/ in a news window)

* Crude dive weighs on oil majors

* HSBC jumps as it reverts to paying dividends

* Quilter soars on report of NatWest considering bid

* FTSE 100 down 0.1%, FTSE 250 off 0.4%

Aug 1 (Reuters) - A slump in oil stocks and rally in sterling weighed on Britain's top share index on Monday, as investors looked ahead to the Bank of England's next move on interest rates amid a weakening global economic outlook.

As sterling hit a one-month high, the FTSE 100 , packed with multinational companies that earn a large part of their revenue overseas, ended down 0.1%. The index had gained as much as 0.7% earlier.

Shares of oil majors BP and Shell fell almost 2% each as crude prices sank nearly 5% after weak manufacturing data in several countries weighed on the demand outlook.

Wall Street indexes also wavered after strong gains last week, driven by better-than-expected earnings.

"Earnings season has brought optimism that perhaps market pessimism has been somewhat overdone, yet today has seen data take a nosedive in Europe and China," said Joshua Mahony, senior market analyst at online trading platform IG.

"Between the biggest German retail sales decline since 1994, and contraction in manufacturing PMI surveys in China, Italy and Spain, the economic picture remains discouraging for investors."

Meanwhile, a survey showed British manufacturing output and new orders declined in July at the fastest rate since May 2020.

The BoE will meet on Thursday, when policymakers are expected to lift interest rates by 50 basis points to 1.75% to tame surging prices, according to a Reuters poll taken over the past week as several economists changed their minds.

The BoE has never raised Bank Rate by a half point since it was made independent in 1997.

Among single stocks, HSBC jumped 6.1% after Europe's biggest bank announced a higher profitability target and a bullish dividend outlook. It also pushed back on a proposal by top shareholder Ping An Insurance Group Co of China to split itself.

Pearson surged 12.7% as the education group reiterated its full-year profit outlook and said its new integrated structure under boss Andy Bird was helping save costs and grow the top line.

The domestically focused midcap index also reversed course to end the session down 0.4%.

Quilter jumped 14.6% after a media report said NatWest Group is considering a bid for the fund manager. NatWest gained 1.2% (Reporting by Sruthi Shankar in Bengaluru; Editing by Uttaresh.V and David Holmes)

© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / BRITISH POUND (AUD/GBP) 0.00% 0.5732 Delayed Quote.8.60%
BP PLC 0.24% 433.1 Delayed Quote.31.04%
CANADIAN DOLLAR / BRITISH POUND (CAD/GBP) 0.00% 0.647992 Delayed Quote.11.93%
EURO / BRITISH POUND (EUR/GBP) 0.01% 0.87822 Delayed Quote.4.68%
FTSE 100 0.18% 6893.81 Delayed Quote.-6.65%
FTSE MID 250 INDEX 2.25% 17168.34 Delayed Quote.-26.88%
INDIAN RUPEE / BRITISH POUND (INR/GBP) -0.34% 0.011 Delayed Quote.11.22%
LONDON BRENT OIL -3.84% 85.29 Delayed Quote.13.53%
NATWEST GROUP PLC 2.17% 225.9 Delayed Quote.-7.06%
PEARSON PLC 3.36% 866.8 Delayed Quote.41.36%
PING AN INSURANCE GROUP COMPANY 2.22% 39.2 Delayed Quote.-30.19%
QUILTER PLC 2.43% 91.72 Delayed Quote.-47.06%
SHELL PLC 0.22% 2246.5 Delayed Quote.38.52%
US DOLLAR / BRITISH POUND (USD/GBP) 0.09% 0.896057 Delayed Quote.21.12%
WTI -2.49% 79.673 Delayed Quote.5.74%
All news about PEARSON PLC
09/30European ADRs Move Higher in Friday Trading
09/27JPMorgan Keeps Pearson at Overweight, Raises PT
09/21PEARSON PLC : Security operations
09/19PEARSON PLC : Security operations
09/16PEARSON PLC : Security operations
09/15PEARSON PLC : Security operations
09/14PEARSON PLC : Security operations
09/13Pearson plc Declares Interim Dividend for the Year 2022, Payable on 20 September 2022
09/13PEARSON PLC : Security operations
09/13PEARSON PLC : Dividends
More news
Analyst Recommendations on PEARSON PLC
More recommendations
Sales 2022 3 751 M 4 180 M 4 180 M
Net income 2022 255 M 284 M 284 M
Net Debt 2022 622 M 693 M 693 M
P/E ratio 2022 24,3x
Yield 2022 2,57%
Capitalization 6 296 M 7 016 M 7 016 M
EV / Sales 2022 1,84x
EV / Sales 2023 1,70x
Nbr of Employees 21 350
Free-Float 99,0%
Duration : Period :
Pearson plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends PEARSON PLC
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 16
Last Close Price 866,80 GBX
Average target price 906,93 GBX
Spread / Average Target 4,63%
EPS Revisions
Managers and Directors
Andrew Bird Chief Executive Officer & Non-Executive Director
Sally Kate Miranda Johnson Chief Financial Officer & Executive Director
Omid R. Kordestani Non-Executive Chairman
Marykay Wells Chief Information Officer
Linda Koch Lorimer Independent Non-Executive Director
Sector and Competitors