Pearson falls after trading statement

The price of shares in FTSE 100 educational publisher Pearson (LON:PSON) dropped by 10.65% to 446.40p (as of 09:30 GMT) after it paused its share buyback programme. The company said that while trading until the end of February was in line with expectations, conditions have since changed due to COVID-19.

In particular, the group highlighted uncertainty around courses that rely on access to physical sites, which has already had an impact on operating profits. There has been some improvement in the company’s online business and cost cutting measures are being implemented.