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London Movers: Pearson, Lloyds

CNBC.com
Monday, 27 Jul 2009 | 5:13 AM ET

Shares in publishing group Pearson surged by nearly 10 percent, topping the FTSE, after it reported strong earnings due to a rise in its educational publications business, the largest in the world.

Pearson, the publisher of the Financial Times newspaper, cut its exposure to advertising to 3 percent of total sales. The FT Group reported a fall of 13 percent in underlying profit in the first half of the year. Pearson's underlying adjusted operating profit rose 21 percent.

Lloyds Banking Group shares rose nearly 4 percent after Nomura upgraded the stock to "buy" from "reduce."

Shares of Royal Bank of Scotland were also 3 percent up.

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PSON
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LLOY
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