Kingfisher Share News (KGF)

- US GDP and housing data boosts stocks- 'Fiscal cliff' concerns ease after politicians' comments- Mining stocks rise on demand hopesHopes about the US economy were driving gains on Thursday as investors reacted positively to comments from politicians about the 'fiscal cliff' and decent economic data Stateside.US Republican Speaker of the House John Boehner said that he was "optimistic that we can continue to work together to avert this crisis sooner rather than later." He said that Republicans were willing to put "revenue on the table" as long as it is accompanied by spending cuts. Meanwhile, President Barack Obama told the public in a press conference today to pressure Congress to act to avert the automatic tax increases, saying: "When the American people speak loudly enough, lo and behold, Congress listens." He said he expects a deal by Christmas. Nevertheless, market strategist Ishaq Siddiqi from ETX Capital said that "markets remain extremely sensitive over the fiscal cliff issue - it could take just one negative headline suggesting the talks are stalling to send the bulls running back to the exit so today's move to the upside is unlikely to sustainable in the sessions ahead."For now however, Eurozone debt worries are in the back seat and improved US macro data is driving the afternoon cheer," he said.US gross domestic product (GDP) growth in the third quarter was revised higher from the initial flash estimate of 2% to 2.7%. Meanwhile, jobless claims declined last week and pending home sales surged in October.Market analyst Craig Erlam from Alpari said: "The housing market is naturally a good barometer of economic conditions as it highlights not only the consumer's confidence in the economy but also the banks' willingness to lend. The improvement we've seen in recent months suggests that the US economy could be performing better than the Federal Reserve are suggesting and is likely to be reflected in the fourth-quarter data."Economic newsGerman unemployment rose for the eighth consecutive month in November, up a seasonally adjusted 5,000 to 2.94m, according to the Federal Labor Agency. However, this was much less than the 16,000 increase predicted. The Confederation of British Industry's (CBI) distributive trades survey index for the month of November rose to 33 points, after 30 in the previous month (Consensus: 18). The latest Bloomberg poll has the world economy in its 'best shape' for 18 months, as the US is expected to avoid the fiscal cliff, albeit with political manoeuvres expected before hand, and as China's prospects improve.FTSE 100: Miners surge on US and Chinese hopesMining stocks jumped this afternoon after the robust economic figures from the world's largest economy, America, and upbeat comments yesterday about the second-biggest powerhouse, China. Chinese Commerce Minister Chen Deming said on Wednesday that the country would definitely hit its growth target of at least 7.5% this year. Sector peers Kazakhmys, Antofagasta, ENRC and Anglo American were among the best performers.Rio Tinto gained after Chief Executive Tom Albanese boasted at an investors seminar that the company was "very well positioned despite the challenging global environment". The company said it is targeting $5bn of cost savings by the end of 2014. BHP Billiton was also in demand after its Chief Executive Officer Marius Kloppers gave a cautiously optimistic outlook at the company's annual general meeting. He highlighted the company's diversified portfolio, which he stressed means it is "poised to capture the opportunities presented by markets in all stages of the demand cycle". Utilities firm Pennon, which owns South West Water and waste business Viridor, was another high riser after delivering half-year pre-tax profits in line with expectations, up 3.4% to £111.1m. Energy services giant Wood Group lead the fallers on reports that the Wood family trust and members of the Wood family reduced its stake in the firm by 4.4%. DIY group Kingfisher was lower after seeing like-for-like sales fall 2.8% in the third quarter. In the UK, Kingfisher's biggest market, total sales declined by 0.7% to £1.05bn, and were down 3.8% in like-for-like terms. Pay-TV and broadband group BSkyB was lower after Jefferies downgraded its rating on the stock from 'hold' to 'underperform' and cut its target price from 700p to 650p. In contrast, water group Severn Trent rose after RBC upped its view on the shares to 'market perform'.Standard Chartered was making decent gains as it continued to boosted by hopes that it is close to a settlement regarding the transactions with Iranian clients that may have violated US sanctions against the country. The Wall Street Journal reported yesterday that the bank is close to agreeing on a $300m fine with US authorities.FTSE 250: Invensys continues to soarTechnology group Invensys extended yesterday's surge after announcing last night that it is to sell its rail division to Siemens for £1.742bn, pay down its pension deficit and return £625m in cash to shareholders. Thus, its shares were again catapulted higher as talk picked up amongst analysts about potential bids for the now leaner, streamlined and more focused automation outfit.Shares in translation and communications software group SDL have recovered somewhat since the company issued a profit warning on Monday. Transport company National Express Group was also on the up having cheered investors with news of a contract wins in both America and Spain. Meanwhile, rigid plastic packaging supplier RPC Group dropped after seeing net profit halve in the first half as it was hit by restructuring costs and impairment losses. Imagination Technologies shares took a hit after Jefferies reduced its target price from 724p to 628p, although kept its buy recommendation. UBS upgraded the stock from sell to neutral. FTSE 100 - RisersKazakhmys (KAZ) 719.00p +5.97%Rio Tinto (RIO) 3,090.00p +5.08%Pennon Group (PNN) 624.50p +4.34%Antofagasta (ANTO) 1,292.00p +4.28%Johnson Matthey (JMAT) 2,388.00p +3.92%Severn Trent (SVT) 1,637.00p +3.74%Eurasian Natural Resources Corp. (ENRC) 274.80p +3.66%Weir Group (WEIR) 1,879.00p +3.41%Burberry Group (BRBY) 1,317.00p +3.38%Anglo American (AAL) 1,764.00p +3.34%FTSE 100 - FallersWood Group (John) (WG.) 780.00p -4.29%Hargreaves Lansdown (HL.) 750.50p -1.70%ARM Holdings (ARM) 762.50p -1.29%British Sky Broadcasting Group (BSY) 771.50p -0.96%Kingfisher (KGF) 279.00p -0.57%Diageo (DGE) 1,872.50p -0.32%Pearson (PSON) 1,175.00p -0.25%Imperial Tobacco Group (IMT) 2,504.00p -0.20%Melrose Industries (MRO) 212.70p -0.14%Tate & Lyle (TATE) 768.50p 0.00%FTSE 250 - RisersInvensys (ISYS) 305.00p +8.93%Centamin (DI) (CEY) 59.50p +6.82%National Express Group (NEX) 175.50p +6.69%SDL (SDL) 473.00p +6.65%Kenmare Resources (KMR) 32.70p +5.83%New World Resources A Shares (NWR) 262.10p +4.84%Balfour Beatty (BBY) 258.20p +4.49%Supergroup (SGP) 610.50p +4.45%Dialight (DIA) 1,106.00p +4.24%Taylor Wimpey (TW.) 59.25p +4.13%FTSE 250 - FallersRPC Group (RPC) 390.00p -8.43%Imagination Technologies Group (IMG) 411.20p -3.52%JD Sports Fashion (JD.) 712.00p -2.47%Stobart Group Ltd. (STOB) 103.10p -2.27%NMC Health (NMC) 176.00p -2.22%Rank Group (RNK) 144.00p -1.84%COLT Group SA (COLT) 101.60p -1.45%PayPoint (PAY) 843.00p -1.40%Travis Perkins (TPK) 1,120.00p -1.15%Cranswick (CWK) 791.00p -1.12%BC