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Pearson (Q3 statement 16 October)
First-half figures for Pearson showed some signs of growth despite ongoing problems in its US higher education division. Tough comparatives with its South Africa performance last year will make life difficult, and most of the improvement for the year should come from cost reduction. At 14.2 times earnings the shares are now just below their five-year average of 14.8, having seen a notable re-rating since the first half of the year.
Pearson has steadily lost ground since July, with the latest sell-off driving the shares close to the £7.57 high of March. A bounce from here will be positive if it can maintain momentum above the post-September 2017 trendline.