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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.

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