Post-Christmas blues lower FTSE

Tesco has lost 1.7% to 312.57p with finance director Andy Higginson saying the long-term trend suggests consumers will "tighten their belts" after sales increased at Christmas as the retailer cut prices. Next has also slipped 2% to 1,650p as Deutsche Bank AG downgraded the retailer's stock to "hold" from "buy", while J Sainsbury has fallen 3.25p, or 1.1% to 306p. Meanwhile, Pearson has gained 6.5p, or 1%, to 677p. The world's largest educational publisher and owner of the Financial Times says the newspaper continued its advertising growth and broke even last year after three years of op...