Pearson shares dip after teaching unit sale

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Shares in Pearson fell 1.7% after the education group said it had sold its language teaching unit Wall Street English for $300m (£225m).

The firm said the sale was part of its focus on “a smaller number of bigger opportunities in global education”.

Pearson has struggled recently, issuing several profit warnings, and in March it reported a record £2.6bn loss after writing down the value of US assets.

The FTSE 100 index was down 2.69 points at 7,406.95 in early trade.

Aviva was the biggest riser in the FTSE 100, up 1.4%, after a report in the Sunday Times said it was planning to spend more than £1bn on a share buyback.

Outside the FTSE 100, shares in Patisserie Valerie owner Patisserie Holdings rose 5.7% after the company reported a 17% rise in full-year profits to £20.2m.

On the currency markets, the pound was unchanged against the dollar at $1.3343 and was also flat against the euro at €1.1172.

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