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A £2.5bn loss might not look like the most obvious prompt for a share price rise, but Pearson investors took heart from better than expected revenues at the FTSE 100 on Friday morning.

Shares in the education group climbed as much as 3 per cent in early trading, but by publication time had pulled back to a 1 per cent rise, to 651p.

The company’s shares have recovered more than 15 per cent since a profit warning sent them to their lowest level since the financial crisis last month. However, that still leaves them down almost 20 per cent for the year so far.

Copyright The Financial Times Limited 2017. All rights reserved.

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