FTSE 100 movers: Burberry shines on update but Pearson tanks

London’s FTSE 100 was up 0.2% to 7,235.79 in afternoon trade, with updates from Burberry and Pearson in focus.

Luxury retailer Burberry was the standout gainer after it reported 4% growth in underlying retail sales for the third quarter, boosted by a return to growth for the Asia Pacific region but with the Americas still in decline.

HSBC was a higher riser as it confirmed it will need to move roughly 1,000 London jobs to its Paris office due to Brexit.

Hikma Pharmaceuticals was on the front foot as it said US subsidiary Roxane Laboratories has received approval from the US Food and Drug Administration for its sodium oxybate oral solution for the treatment of cataplexy – sudden loss of muscle strength – and excessive daytime sleepiness in patients with narcolepsy.

The sodium oxybate oral solution is the generic equivalent to Jazz Pharmaceuticals’ Xyrem, for which the company reported net sales of about $955m in 2015.

On the downside, education publisher Pearson – which has already issued a string of profit warnings in recent years – tanked after it cut its profit forecast for this year and said the dividend will be lower.

Information services company Experian was weaker after it reported a 4% rise in third-quarter organic revenue as it maintained its guidance for the full year.

In the three months to the end of December, total revenue growth from ongoing activities was 6% at constant exchange rates and organic revenue growth was 4%. At actual exchange rates, total revenue growth from ongoing activities was 4% as the weak pound more than offset the improvement in the Brazilian real.

Outsourcer Capita was under the cosh as FTSE 250 peer Mitie issued its third profit warning since September and announced the appointment of a new finance director.

Housebuilders were in the red following a strong bounce in the previous session as sterling rallied on the back of Prime Minister Theresa May’s Brexit plan, with Persimmon and Barratt Developments in the red.

Risers

Burberry Group (BRBY) 1,639.00p 2.89%
HSBC Holdings (HSBA) 680.60p 2.05%
British American Tobacco (BATS) 4,667.50p 1.91%
Compass Group (CPG) 1,449.00p 1.68%
Wolseley (WOS) 4,939.00p 1.50%
Hikma Pharmaceuticals (HIK) 1,941.00p 1.41%
Merlin Entertainments (MERL) 480.50p 1.39%
Diageo (DGE) 2,159.50p 1.31%
Severn Trent (SVT) 2,224.00p 1.18%
Antofagasta (ANTO) 729.50p 1.18%

Fallers

Pearson (PSON) 581.50p -28.03%
Sage Group (SGE) 645.50p -2.12%
Experian (EXPN) 1,550.00p -1.77%
Smurfit Kappa Group (SKG) 2,073.00p -1.75%
Persimmon (PSN) 1,962.00p -1.65%
Legal & General Group (LGEN) 241.10p -1.55%
Capita (CPI) 510.00p -1.45%
Anglo American (AAL) 1,305.00p -1.44%
Barratt Developments (BDEV) 514.50p -1.25%
Barclays (BARC) 228.80p -1.21%