British stocks struggle as M&S, Pearson dip

British stocks struggle as M&S, Pearson dip

On Tuesday, blue chip shares in Great Britain struggled, with Pearson PLC stocks swinging steeply lower on the eve of a $1 billion stake-selling deal. Meanwhile, Marks & Spencer Group PLC stocks sagged after the department-store operator released a trading update.

The FTSE 100 index UKX decreased 0.7% being worth 7,317.26, while only the basic materials group managed to gain. On Monday, the index tacked on 0.3%.

Pearson PLC PSON stocks lost 6.2%, though they had been up approximately 3% during early trade after the education and publishing company told it’s already selling its 22% stake in Penguin Random House for up to $1 billion to Bertelsmann SE, German media company, its joint-venture partner.

Marks & Spencer MKS stocks went down 3.5% because the giant retailer told that fiscal first-quarter 2018 like-for-like sales in Great Britain decreased 0.5%. As for food like-for-like sales, they dipped 0.1%, while home sales and clothing lost 1.2%.

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