FTSE 100 Advances; Rentokil Climbs 6% On Results
(RTTNews) - U.K. stocks are modestly higher Tuesday morning with investors digesting some corporate earnings updates, and looking ahead to monetary policy announcements from the Federal Reserve and the European Central Bank for further direction.
The benchmark FTSE 100 is up 48.84 points or 0.57% at 8,552.55.
Rentokil Initial is surging more than 6% after strong results. The pest control services company announced that its North America Organic Revenue growth was 2.3% in the fourth-quarter of 2024, with Organic Revenue growth in North America Pest Control Services of 1.5%, reflecting improved momentum in inbound lead flow from its marketing initiatives. Group organic revenue growth in the fourth quarter 2024 was 3.0%, the company said.
Meanwhile, the departure of North America CEO Brad Paulsen, whose division was linked to last year's profit warning, is seen as a positive move by investors.
Kingfisher is gaining 3.2% and Howden Joinery is up nearly 3%. Halma, Associated British Foods, Spirax-Sarco Engineering, Marks & Spencer, Barratt Redrow, B&M European Value Retail, National Grid, Centrica, Sainsbury and Whitbread are up 1 to 2.85%.
F&C Investment Trust, Smiths, Melrose Industries, Rolls-Royce Holdings and Standard Chartered are down 1 to 2%.
HSBC Holdings is down more than 0.5%. The bank has announced plans to scale back parts of its European investment banking operations as part of a broader restructuring led by new CEO Georges Elhedery.
IAG, Mondia, Glencore, Anglo American Plc and Rio Tinto are also moderately lower.
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