LONDON -- The FTSE 100 (FTSEINDICES: ^FTSE ) is treading water this morning, up just 12 points to 6,439 as of 9:10 a.m. EDT. Although the formation of a coalition government in Italy has settled some eurozone nerves, recent economic updates have not provided the clarity many were hoping for, and confidence in further stimulation by central banks seems a little weakened.
But even with the FTSE going nowhere, there are still plenty of companies whose shares are on the up. Here are three rising today.
Aberdeen Asset Management
Shares in Aberdeen Asset Management have soared 9.6% this morning after revenue for the six months to March 31 jumped 25% to 516 million pounds. Underlying pre-tax profit is up 37% to 223 million pounds, with underlying earnings per share up 43% to 14.9 pence. This enabled the investment manager to lift its interim dividend by 36% to 6 pence per share.
Chief executive Martin Gilbert said, "We have seen healthy net new business flows which, combined with performance by global markets, has generated strong growth in our revenue and in profit margins," though he remained cautious on market outlook.
Rentokil Initial shares have gotten a 2.6% boost from a couple of news items, including an upbeat first-quarter statement. Revenue at the business services firm, which provides hygiene, pest control, and other services, rose by 3.3% (at actual exchange rates) to 644.8 million pounds, generating an adjusted pre-tax profit of 25.1 million pounds, up 10%.
In other news, Rentokil announced the sale of its City Link subsidiary to private-equity investor BECAP12 Fund, for 1 pound. The buyer will invest 40 million pounds in the business to complete City Link's turnaround plan.
Lloyds Banking Group rose again this morning, albeit modestly: The shares are up 1.4% at the time of writing. It's all down to the long-awaited disposal of a number of branches, and after yesterday's news that TSB Bank is to rise again and be floated, today we heard of the sale of the bank's Spanish retail operations.
The firm's retail and private-banking interests and its investment management business in Spain will be sold to Banco Sabadell. The deal will be settled with a mix of Banco Sabadell shares to the value of 84 million euros and up to 20 million euros in cash payable over the next five years, based on performance.
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