FTSE 100 movers: Pearson pushes higher; Persimmon hit by downgrade

(Sharecast News) - London's FTSE 100 was up 0.1% at 7,494.96 in afternoon trade on Monday. Educational publisher Pearson was the standout gainer on the index.

Persimmon slumped after UBS downgraded its stance on the housebuilder to 'sell' from 'neutral' and cut the price target to 1,230p from 1,290p as it cited the further risk of a de-rating.

""We think Persimmon faces further downside risk as margins and returns start to revert to the sector mean over time," the bank said.

BT was also in the red following a report it is preparing to merge two of its struggling divisions serving corporate clients as it looks to cut costs. According to The Telegraph, the company is poised to combine its Global Services division with its Enterprise unit.

Oil giant BP gushed lower as oil prices slid, as anti-lockdown protests in China fuelled worries about demand.

FTSE 100 - Risers

Pearson (PSON) 990.00p 1.12% Endeavour Mining (EDV) 1,698.00p 0.89% Frasers Group (FRAS) 895.50p 0.84% Relx plc (REL) 2,343.00p 0.77% Flutter Entertainment (CDI) (FLTR) 11,880.00p 0.72% Reckitt Benckiser Group (RKT) 5,942.00p 0.71% Pershing Square Holdings Ltd NPV (PSH) 2,935.00p 0.69% Informa (INF) 612.40p 0.59% Unilever (ULVR) 4,135.00p 0.52% Diageo (DGE) 3,781.50p 0.50%

FTSE 100 - Fallers

Admiral Group (ADM) 2,056.00p -3.38% Persimmon (PSN) 1,284.00p -3.35% Melrose Industries (MRO) 131.25p -2.45% Intermediate Capital Group (ICP) 1,204.50p -2.23% Smurfit Kappa Group (CDI) (SKG) 2,997.00p -1.83% BP (BP.) 479.85p -1.74% Anglo American (AAL) 3,149.00p -1.72% BT Group (BT.A) 124.75p -1.69% Ocado Group (OCDO) 639.00p -1.66% Smith & Nephew (SN.) 1,087.50p -1.45%