Lately-unloved learning company Pearson (PSON) rebounds 14.1% to 750.5p on an encouraging first quarter update. Full year operating profit guidance is unchanged at £570m-to-£630m, a relief following a series of profit warnings.
The academic publisher also outlines well-received plans to further simplify the business, including the possible sale of its US schools publishing arm, reduce the cost base by £300m and speed up its digital transformation.
British Airways and Iberia owner International Consolidated Airlines (IAG) takes off 4.6% to 598p on news of a record performance in the traditionally weakest first quarter. CEO Willie Walsh reports underlying operating profit of €170m, more than 6% better than the consensus estimate thanks to better passenger yields and lower unit fuel costs.
Budget airline EasyJet (EZJ) rises 2.7% to £12.42 as it flags encouraging passenger statistics for April.
Smith & Nephew (SN.) is in rude health, the shares improving 3.3% to £13.12 as the medical device giant assures it is on track to deliver 3-to-4% underlying sales growth for the full year.
Highlights from today’s first quarter update include a return of emerging markets to double digit growth and the continued strong sales of knee implants and advanced wound devices.
Retail bellwether Marks & Spencer (MKS) is marked up 4% to 371.6p on the appointment of legendary retailer Archie Norman, famed for his feats at ASDA and Kingfisher (KGF), as its new chairman. This follows the poaching of Halfords’ (HFD) boss Jill McDonald to head up its Clothing, Home & Beauty business earlier this week.
Building services outfit T Clarke (CTO) sparks up 12.3% to 88p as it says sales and profits for 2017 will be ahead of current market expectations thanks to the success of current projects and a strengthening order book.
Walkie-talkie manufacturer Sepura (SEPU) slumps more than 25% to 11.75p as it reveals the German government is to scrutinise its £74m takeover by Chinese firm Hytera Communications.
