Media stocks drag FTSE lower

Pearson, the owner of the FT, posted the biggest losses with a drop of 2.85% to 817.5p, despite announcing it was on track to report record profits for the last year, while Reed Elsevier slipped 1.88% to 600p. Enterprise Inns was also down 2.02% to 653.5p, closely followed by BAE Systems which slipped 1.98% to 421p, while Smiths Group dropped 1.88% to £10.73, although losses were limited by Drax which added 1.51% to 739p. However, further down the main FTSE indices 3I Group was the biggest riser on with gains of 2.11% to £10.67, closely followed by Capita Group which climbed 1.57% to ...