FTSE 100 movers: Pearson plunges on refund demands, Unilever higher on strong Q1

Publishing group Pearson plummeted on reports that the Los Angeles Unified School District is seeking a refund from the firm and its technology partner, Apple, over a botched $1.3bn effort to supply students with iPads,

BAE Systems dipped following a downgrade from 'buy' to 'neutral' from analysts at UBS, who cited a lack of "sufficient upside potential". The broker also downgraded Meggit to 'sell' from 'neutral', as a result of "anti-trust issues in both wheels & brakes and aerospace fire protection."

Consumer goods colossus Unilever jumped after enjoying a strong start to 2015 with underlying sales for the first quarter coming in ahead of analysts' estimates.

Miller Lite and Grolsch maker SABMiller also rose as strong growth in Africa and Latin America helped to accelerate net producer revenue growth in the fourth quarter. Shares in sector peer Diageo, however, fell as organic sales declined in the third quarter, disappointing market expectations for an increase.

Supermarket group Morrisons was trading higher after saying it will recruit 5,000 new staff in-store and start consultations to streamline its head office operations by cutting 720 roles.

Meanwhile,Sainsbury's slipped on reports the retailer is planning to convert some 1.5m square foot of food space to non-food.

Miners Randgold Resources, BG Group and Fresnillo were all continuing higher.

Risers

Unilever (ULVR) 3,038.00p +3.54%
Randgold Resources Ltd. (RRS) 5,125.00p +2.81%
Fresnillo (FRES) 756.00p +2.44%
SABMiller (SAB) 3,653.00p +1.90%
CRH (CRH) 1,891.00p +1.83%
GKN (GKN) 370.20p +1.68%
Royal Dutch Shell 'A' (RDSA) 2,105.00p +1.62%
Old Mutual (OML) 239.20p +1.31%
National Grid (NG.) 908.00p +1.05%
BG Group (BG.) 1,198.00p +1.01%

Fallers
Intu Properties (INTU) 350.20p -3.71%
BAE Systems (BA.) 514.50p -3.38%
Meggitt (MGGT) 546.00p -3.19%
Pearson (PSON) 1,383.00p -3.08%
Diageo (DGE) 1,910.50p -2.87%
Sainsbury (J) (SBRY) 277.60p -2.49%
International Consolidated Airlines Group SA (CDI) (IAG) 570.00p -2.31%
Smith & Nephew (SN.) 1,146.00p -2.22%
Johnson Matthey (JMAT) 3,433.00p -2.08%
Hikma Pharmaceuticals (HIK) 2,129.00p -2.02%