FTSE 100 rises on miners, industrials boost; Rentokil Initial slumps
London’s FTSE 100 edged higher on Thursday, boosted by mining and industrials stocks, although the gains were capped by a…
London’s FTSE 100 edged higher on Thursday, boosted by mining and industrials stocks, although the gains were capped by a fall in heavyweight energy stocks and a stronger pound.
The blue-chip index rose 0.2%, with engineer Melrose Industries jumping 2.5 to the top of index after Peel Hunt raised its price target on the stock.
However, large dollar-earning companies, including Unilever (LON:ULVR) and British American Tobacco (LON:BATS), slipped on a slightly stronger pound. Oil and gas stocks fell 0.5%, tracking lower crude prices. [GBP=][O/R]
The domestically focussed mid-cap FTSE 250 index added 0.6%.
Rentokil Initial (LON:RTO) declined 3.2% after saying demand for its disinfection services, which helped first-quarter sales grow, is expected to unwind in the year.
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