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FX.co ★ FTSE 100 Advances; Rentokil Climbs 6% On Results

FTSE 100 Advances; Rentokil Climbs 6% On Results

UK stocks experienced a modest uptick on Tuesday morning. Investors were processing the latest corporate earnings reports while anticipating upcoming monetary policy decisions from the Federal Reserve and the European Central Bank, which may provide further market direction.

The FTSE 100 index rose by 48.84 points, marking an increase of 0.57% to reach 8,552.55.

Rentokil Initial saw a significant surge of over 6% following the release of its strong financial performance results. The pest control service company reported a 2.3% rise in North American organic revenue growth during the fourth quarter of 2024. Specifically, the organic revenue growth for North America's pest control services was 1.5%, attributable to enhanced momentum from marketing-driven inbound leads. Group-wide, the organic revenue growth for the fourth quarter of 2024 was reported at 3.0%. Furthermore, sentiment towards the company's future prospects was bolstered by the departure of North America CEO Brad Paulsen, who had been associated with the previous year's profit warning.

Several other companies also posted gains, with Kingfisher up by 3.2% and Howden Joinery climbing nearly 3%. Stocks such as Halma, Associated British Foods, Spirax-Sarco Engineering, Marks & Spencer, Barratt Redrow, B&M European Value Retail, National Grid, Centrica, Sainsbury, and Whitbread increased by 1% to 2.85%.

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Conversely, F&C Investment Trust, Smiths, Melrose Industries, Rolls-Royce Holdings, and Standard Chartered saw declines ranging from 1% to 2%.

HSBC Holdings fell by more than 0.5% following its announcement of plans to downsize certain sectors of its European investment banking operations. This move is part of a wider restructuring strategy under the guidance of new CEO Georges Elhedery.

Other stocks such as IAG, Mondia, Glencore, Anglo American Plc, and Rio Tinto also showed slight decreases.

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