FTSE 100 falls as stronger pound, oil stocks weigh; Pearson shines

London's FTSE 100 edged lower on Monday as export-oriented companies and heavyweight energy stocks dipped, while shares of Pearson jumped on an upbeat first-quarter earnings update. The mining index rose as Chilean miner Antofagasta gained 1.1% after copper prices hit their highest in over 10 years. The domestically focussed mid-cap FTSE 250 index inched 0.03% higher.

London's FTSE 100 edged lower on Monday as export-oriented companies and heavyweight energy stocks dipped, while shares of Pearson jumped on an upbeat first-quarter earnings update. The blue-chip index fell 0.2% as a stronger pound hit shares in large dollar-earning consumer staples companies Diageo, British American Tobacco, and Unilever.

Heavyweight oil majors BP Plc and Royal Dutch Shell fell because of lower crude prices and were among the biggest drags to the index. The mining index rose as Chilean miner Antofagasta gained 1.1% after copper prices hit their highest in over 10 years.

The domestically focussed mid-cap FTSE 250 index inched 0.03% higher. Global education group Pearson rose to the top of the FTSE 100 index with a 3.3% rise after posting a 5% increase in underlying revenue growth in the first quarter, helped by strong demand for online learning courses.