By Carla Mozee, MarketWatch
Los Angeles schools ditching Apple-Pearson tech package
U.K. stocks retreated from a record high Thursday, with Pearson
PLC shares yanked lower on a refund demand related to technology
partner Apple Inc.
The FTSE 100 fell 0.5% to 7,060.45, slipping from Wednesday's
record close at 7,096.78. The decline was in step with a selloff in
the broader European market that left the Stoxx Europe 600 also
falling away from a record high.
Pearson PLC shares ended at the bottom of the British blue-chip
benchmark, suffering its worst loss since February 2014, according
to FactSet data. The stock dropped 4% following a report
(http://www.latimes.com/local/lanow/la-me-ln-ipad-curriculum-refund-20150415-story.html)that
the Los Angeles Unified School District is canceling a program
under which it purchased Apple (AAPL) iPads featuring curriculum
from Pearson.
Stock in Diageo also ended in the red Thursday, falling 3.6%
after the Smirnoff vodka and Johnnie Walker Scotch whisky maker
said net sales fell 0.3%
(http://www.marketwatch.com/story/diageo-9-month-organic-sales-fall-2015-04-16)
in the nine months ended March 31.
On the bight side, Unilever PLC shares were perched at the top
of FTSE 100 as they rose 2.6%. Sales at the consumer-products
heavyweight jumped 12% in the first quarter
(http://www.marketwatch.com/story/unilever-sales-lifted-by-favorable-forex-movements-2015-04-16).
Underlying sales grew 2.8%.
SABMiller rose 1.4%, after the brewer posted growth in revenue
of 6% in the fourth quarter. But the maker of Fosters, Miller and
Peroni said depreciation of key currencies against the dollar
(GBPUSD) also dented results.
In the energy group, shares of Royal Dutch Shell PLC (RDSB)
gained 1.1%, and BG Group PLC picked up 0.3%, withstanding losses
for energy prices (CLK5) as U.S. oil futures came off their highest
level this year
(http://www.marketwatch.com/story/oil-prices-stay-supported-brent-trades-above-60barrel-2015-04-16-11031855).
But BP PLC slipped 0.5%. The oil major's chief executive, Bob
Dudley, warned that oil prices
(http://www.marketwatch.com/story/bp-ceo-warns-oil-could-stay-low-for-few-years-2015-04-16)
could stay low for several years.
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