Kingfisher Share News (KGF)

LONDON (Alliance News) - London share prices started the week firmly Monday, benefiting from a strong close on Wall Street on Friday, which was lifted by a strong US jobs report.

Here is what you need to know at the London market open:
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MARKETS
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FTSE 100: up 0.4% at 6,260.17
FTSE 250: up 0.2% at 17,401.42
AIM ALL-SHARE: up 0.1% at 741.36
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Hang Seng: closed down 0.2% at 22,203.22
Nikkei 225: closed up 1.0% at 19,698.15
DJIA: closed up 2.1% at 17,847.63
S&P 500: closed up 2.1% at 2,091.69
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GBP: down at USD1.5089 (USD1.5112)
EUR: down at USD1.0848 (USD1.0888)

GOLD: down at USD1,083.61 per ounce (USD1,087.00)
OIL (Brent): down at USD42.83 a barrel (USD43.04)

(changes since previous London equities close)
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ECONOMICS AND GENERAL
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Monday's Key Economic Events still to come
(all times in GMT)

09:30 EU Sentix Investor Confidence
15:00 US Labor Market Conditions Index
17:30 US Fed's Bullard speech
20:00 US Consumer Credit Change
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Germany's industrial production rebounded in October after two months of decline, though the growth was less-than-expected, preliminary data from Destatis showed. Industrial production rose a calendar-and-seasonally adjusted 0.2% from September, when it declined 1.1%. Economists had forecast an increase of 0.7%.
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Permanent job placements in the UK increased at the fastest pace in seven months in November, the Report on Jobs compiled by the Recruitment and Employment Confederation and KPMG showed. The number of people placed in permanent jobs rose further in November and the growth was strong and picked up to a seven-month high. Similarly, temporary and contract staff billings climbed at a faster pace, marking the strongest growth in six months.
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British police on Sunday charged a 29-year-old man with attempted murder following a "terrorist" knife attack at a London underground station that seriously injured one man. Counter-terrorism officers were investigating the "violent unprovoked" attack at Leytonstone Underground Station late Saturday, the Metropolitan Police said. One unidentified man was arrested at the station and he remains in custody, while detectives were also "searching a residential address in east London." The 56-year-old victim remains in stable condition in hospital and his injuries are not believed to be life-threatening.
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US President Barack Obama on Sunday sought to reassure Americans in a rare televised address from the Oval Office following a terrorist attack in San Bernardino, California that left 14 dead. Detailing ongoing anti-terrorism measures and the fight against Islamic State, Obama announced no new initiatives, but called on Americans not to give into fear.
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France and Germany are calling for the deployment of EU border agents to safeguard the bloc's external frontiers if member states have "severe deficiencies" in carrying out border controls, according to a letter seen Sunday by dpa. The EU is trying to curb an influx of migrants and asylum seekers, with more than 950,000 people having reached the continent this year. Most are headed for wealthy countries such as Germany and Sweden, with many of them fleeing war-torn Syria. Greece, in particular, has come under fire for failing to secure its coastline and register all arrivals, effectively allowing people to pass through the country unchecked.
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The Greek parliament approved a 2016 budget early Sunday with a narrow majority of just three votes. Finance Minister Euclid Tsakalotos' budget proposal includes EUR5.7 billion in cuts, new taxes and the increase of fees. The plan brings the country's tax burden in line with the European average, he said.
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The OPEC oil cartel revealed a deep rift about its strategy to counter low oil prices on Friday when its ministers failed to determine what its current upper production limit should be. "We can't really put a number on it now," said Abdallah Salem el-Badri, secretary general of the Organization of the Petroleum Exporting Countries. Nigerian Petroleum Minister Emmanuel Kachikwu explained after the meeting that the group would effectively maintain its actual current production level, which analysts said is 2 million barrels per day above the previously agreed target of 30 million barrels per day.
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Negotiators in Paris adopted a draft climate agreement on limiting global emissions Saturday, but many key points in the nearly 50-page document remained undecided as talks enter a second phase. The negotiators have grappled through the week on sticking points including how to fund many of the nationally set carbon emissions mitigation plans that have become a cornerstone of the agreement. Now, the agreement will go to another round of talks to which country ministers will also attend. Talks are scheduled to close on December 11, and France has said an agreement must be agreed to with enough time to translate it into all languages for countries to formally pass it.
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The Venezuelan opposition won national elections by a landslide, the head of the election council said early Monday, with at least 99 of the 167 seats confirmed for the alliance of the Democratic Unity Roundtable, or MUD. It was the first defeat of the socialist movement since its founder Hugo Chavez came to power in a 1998 election. His handpicked successor, President Nicolas Maduro, has struggled with economic and social problems.
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The US Federal Bureau of Investigation is reportedly investigating FIFA president Joseph Blatter's role in a 100-million-dollar bribery scandal, the BBC reported. The British news agency said sports marketing company ISL paid bribes to several officials - including former FIFA president Joao Havelange and executive Ricardo Teixeira - for television marketing rights in the 1990s. Havelange served as president for football's global organization from 1974 to 1998. The report said a letter written by Havelange talks about the payments he received, and says Blatter had "full knowledge of all activities."
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BROKER RATING CHANGES
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TRADERS: NOMURA CUTS KINGFISHER TO 'REDUCE' ('NEUTRAL')
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TRADERS: CITIGROUP RAISES MAN GROUP TO 'BUY'
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TRADERS: JPMORGAN INITIATES PREMIER OIL WITH 'NEUTRAL'
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COMPANIES - FTSE 100
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Royal Bank of Scotland Group said it has agreed to sell a portfolio of Irish real estate loans to a subsidiary of Irish homebuilder Cairn Homes and an affiliate of Lone Star Funds for about GBP360.0 million in cash at current exchange rates. State-backed RBS said the money raised by selling the loan assets of Irish subsidiary Ulster Bank will be used for general corporate purposes. The loans, which equate to about GBP700.0 million in risk-weighted assets, are being sold under the lender's plan to strengthen its capital position and reduce higher risk exposures. Cairn Homes said it will contribute EUR378.0 million for its 75% share of the portfolio, which will provide the opportunity to build over 14,000 new homes.
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Engineer Meggitt said trading has remained in line with its revised guidance in October and November, though it said the negative trends seen in the second half are set to continue into 2016. The group, which will be demoted from the FTSE 100 later this month, said trading in October and November has been in line with the guidance given in its October trading update, when it issued a profit warning driven by severe weakness in energy end markets.
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Vodafone Group said it has launched its mobile money transfer service M-Pesa in Ghana, the 11th market across its Africa, Asia and Europe segment. The service will be launched under the brand 'Vodafone Cash' following a successful pilot in August.
Vodafone said that the M-Pesa service had seen strong, accelerated growth in East Africa during 2015, most notable in Kenya and Tanzania.
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Aviva and Prudential were among 19 insurers whose own capital models were approved by the Bank of England on Saturday, allowing them to have more control over the level of capital they hold. The new Solvency II insurance rules, which are set to come into force on January 1, 2016, are designed to strengthen protection of insurance policyholders across the EU, and the Prudential Regulation Authority's stamp of approval enables insurers on the list of 19 to use their own internal models to calculate their capital levels from day one of the new regime. Legal & General Group, RSA Insurance Group and Standard Life were three other insurers to have their full or partial internal capital models approved by the central bank's PRA. Scottish Widows, owned by Lloyds Banking Group, was another insurer to receive approval for its own model.
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Marks and Spencer Group said late Friday it will begin a share repurchase programme to buy back shares up to a maximum value of GBP20.22 million. The company has entered into an agreement with Citigroup Global Markets to enable the purchase of shares from Monday to no later than March 24, 2016.
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COMPANIES - FTSE 250
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Property developer Derwent London said it has agreed to sell Wedge House on Blackfriars Road in south London for GBP33.5 million to Ennismore, the UK-based real estate developer. Derwent secured planning permission, in a joint venture with Ennismore, over the summer for a 110,000 square foot hotel and office scheme at the site, which will be now be undertaken by Ennismore. Derwent will be retained as development manager on the project and will get fees of GBP1.5 million for taking on the role.
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Pharmaceuticals firm Invidior said it has reached a deal to buy back a total of USD75 million of its syndicated debt in the market at a discount, and will retire this debt early over "the coming days". As a result the company expects its 2015 year-end debt to be between USD635 million to USD645 million, offset by cash of between USD415 million and USD425 million.
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Outsourcer Serco Group said its trading for 2015 is set to come in ahead of previous guidance and while its still expects declines in revenue and trading profit in 2016, free cash outflows will be better-than-anticipated. Serco said trading in 2015 has been ahead of its expectations, with underlying trading profit set to beat its guidance and its reported trading profit to be significant higher than its underlying figures due to an improved operational performance or renegotiation on loss-making contracts.
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In addition to the possible bid for Homebase from former Garden Centre Group boss Nicholas Marshall, The Sunday Times reported a number of other potential suitors have lined up both for the Homebase business and for a break-up bid for owner Home Retail Group. Though some analysts are sceptical that a bid will emerge from Marshall, several retail industry figures have been tapped by private equity firms in recent months to advise on possible bids for the company, the newspaper said.
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COMPANIES - INTERNATIONAL
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Two more executives at CITIC Securities, China's largest stock brokerage, were unable to be located Monday, according to a company statement to the Hong Kong stock exchange. A total of six of the broker's top eight executives are now missing, the South China Morning Post said, amid reports that they have been detained or were helping police with a probe against the company. The China Securities Regulatory Commission two weeks ago notified CITIC that it was to be investigated for allegedly violation of the rules on securities management, financial news agency Bloomberg reported, citing the company. The two officers declared missing Monday were CITIC head of investment banking Chen Jun and the head of global investing Yan Jian Lin, the SCMP reported, citing the statement to the exchange.
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Monday's Scheduled AGMs/EGMs

Restore (re Wincanton Records Management purchase)
Ixico (re acquisition of Optimal Medicine, share issue)
Eclectic Bar Group
Parallel Media Group
Invesco Property Income Trust
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By Tom Waite; thomaslwaite@alliancenews.com; @thomaslwaite

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