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 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 the index after Peel Hunt raised its price target on the stock. However, large dollar-earning companies, including Unilever and British American Tobacco, slipped on a slightly stronger pound.

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 and British American Tobacco, slipped on a slightly stronger pound. Oil and gas stocks fell 0.5%, tracking lower crude prices. The domestically focussed mid-cap FTSE 250 index added 0.6%.

Rentokil Initial declined 3.2% after saying demand for its disinfection services, which helped first-quarter sales grow, is expected to unwind in the year.