Media stocks drag down European equities from highs

April 16, 2015 10:31 AM

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LONDON, April 16 (Reuters) - European equities retreated from a 14-year high on Thursday, with media stocks leading the market lower after Pearson fell sharply following troubles with one of its educational technology projects.

The STOXX Europe Media index dropped 1.3 percent, the top sectoral decliner, dragged down by a 3.6 percent fall in Pearson after a report saying the Los Angeles Unified School District was seeking a refund from Apple over a bungled $1.3 billion iPad plan with curriculum from Pearson.

Also read: How major US stock market indexes fared on Wednesday

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