FTSE off its record high as Pearson’s shares are knocked - London Report

BRITAIN’S top share index slipped off record highs on Thursday, with media group Pearson underperforming after a newspaper report of a glitch in a lucrative contract.

The blue-chip FTSE 100 index initially rose to an all-time high of 7,119.35 points but then edged back and closed down 0.5 per cent at 7,060.45 points.

Pearson fell four per cent, the worst performer on the FTSE, after the Los Angeles Times reported that the Los Angeles Unified School District was seeking a refund from Apple over a bungled $1.3bn effort to supply students with iPads with curriculum material from Pearson.

Diageo, the world’s largest spirits maker, fell 3.6 per cent after reporting lower quarterly sales.

The FTSE has hit a series of record highs this month despite political uncertainty before the General Election on 7 May, which has hit sterling.

Elsewhere, consumer goods group Unilever rose 2.6 per cent after better-than-expected sales. Miners Randgold and Fresnillo also advanced.

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