Tue, 18th Jun 2019
Pearson, the owners of the finance news publication the Financial Times, were the best performers in the FTSE 100 last week, after posting an increase in revenues for the first half of the year.
The company's shares gained 5.5%, climbing to £13.22, after they announced that their revenues rose by 5% year-on-year. The company also announced that they were considering selling their financial intelligence business, Mergermarket, whom they acquired at a price of £101 million seven years ago.
The overall performance of the FTSE 100 was muted on Friday, with other companies posting mixed results. Anglo American was one of the other major gainers, seeing a 0.6 percent increase in shares after announcing that it had a long-term plan which would increase the company's cash flow by $1.3 billion over the next three years. Gas producer BG Group also saw a small increase in share value after publishing better-than-expected profits for the second quarter.
Meanwhile, Rolls-Royce saw its shares fall by more than three percent after it had its rating cut to "sell" by Deutsche Bank. Overlal, the market fell 33.2 points by close of business, as traders became concerned over the announcement of a small stimulus package to bolster the Chinese economy. The fate of the FTSE has been closely tied to China's economic health for quite some time and the markets are flipping between optimism and serious concern as China's economy struggles to move from an investment driven one to a more mature and consumer focused market.