The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksKingfisher Share News (KGF)

Share Price Information for Kingfisher (KGF)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 261.60
Bid: 262.30
Ask: 262.50
Change: 3.70 (1.43%)
Spread: 0.20 (0.076%)
Open: 259.00
High: 264.20
Low: 257.80
Prev. Close: 257.90
KGF Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

LONDON MARKET MIDDAY: Stocks reverse declines; Deliveroo prices IPO

Mon, 22nd Mar 2021 12:06

(Alliance News) - Stock prices in London recovered opening losses by midday on Monday despite fears over rising coronavirus cases in Europe, while Deliveroo set out plans for the biggest London listing of 2021 so far.

Investors grew more concerned about Europe, where the vaccination programme has stuttered and where a rise in new cases has forced countries including France and Germany to reimpose lockdowns.

UK Prime Minister Boris Johnson Boris Johnson is expected to ask European leaders this week to dismiss any proposals to block coronavirus vaccine exports to the UK.

European Commission President Ursula von der Leyen ramped up the rhetoric this weekend, saying the EU has the power to "forbid" exports, adding: "That is the message to AstraZeneca."

The warning reflects growing frustration on the continent that the EU is not getting the supplies it expected from the Anglo-Swedish drug manufacturer.

The UK PM is expected to contact his EU counterparts ahead of virtual summit on Thursday where European leaders are due to consider the matter, The Financial Times reported.

AstraZeneca was up 2.4% after it said early Monday the US phase III trial of its AZD1222 vaccine - co-developed with the University of Oxford - demonstrated statistically significant vaccine efficacy of 79% at preventing symptomatic Covid-19 and 100% efficacy at preventing severe disease and hospitalisation.

AstraZeneca said interim safety and efficacy analysis was based on 32,449 participants accruing 141 symptomatic cases of Covid-19. The trial had a 2:1 randomisation of vaccine to placebo. Vaccine efficacy was consistent across ethnicity and age. Notably, in participants aged 65 years and over, vaccine efficacy was 80%, it added.

AstraZeneca said it will continue to analyse the data and prepare for the primary analysis to be submitted to the US Food & Drug Administration for Emergency Use Authorization in the coming weeks.

The FTSE 100 index was up 9.17 points, or 0.1%, at 6,717.88. The mid-cap FTSE 250 index was up 35.85 points, or 0.2%, at 21,456.14. The AIM All-Share index was 0.2% higher at 1,201.65.

The Cboe UK 100 index was down 0.1% at 669.32. The Cboe 250 was down 0.2% at 19,113.66, and the Cboe Small Companies down 0.5% at 13,892.44.

In mainland Europe, the CAC 40 in Paris was 0.2% lower, while the DAX 30 in Frankfurt was up 0.2%.

In the FTSE 100, Kingfisher was the still best blue-chip performer, up 3.5%. The DIY retailer hailed a strong annual performance as the pursuit of home improvement projects continued throughout the year.

For the financial year that ended January 31, revenue was up 7.2% at GBP12.34 billion from GBP11.51 billion the year before, while pretax profit multiplied to GBP756 million from GBP103 million.

Kingfisher declared a total dividend of 8.25 pence, having skipped payouts in financial 2020 due to the Covid-19 pandemic.

Looking ahead, Kingfisher said the new financial year has started positively, with first quarter like-for-like sales to March 18 up 24%, reflecting strong demand in the UK and France.

Rightmove was up 2.6% after UBS raised the property portal to Buy from Neutral and Lloyds Banking was up 2.1% after JPMorgan upgraded the UK lender to Overweight from Neutral.

At the other end of the large-caps, International Consolidated Airlines was the worst performer, down 6.1%, after Deutsche Bank downgraded the British Airways parent to Hold from Buy.

In addition, aviation services providers Rolls-Royce and Melrose Industries were down 2.5% and 2.2% respectively.

Travel stocks were lower across the board as the spat between the UK and Europe continued and fears the crucial summer holiday season will be threatened by the slow vaccine rollout on the continent.

In the FTSE 250, budget airline easyJet was down 6.0%, Anglo-German tour operator Tui was off 6.2%, and Hungarian airline Wizz Air was 3.5% lower. In addition, Irish carrier Ryanair was 5.2% lower.

AJ Bell's Russ Mould said: "Airlines and travel operators had seemingly refused to countenance the cataclysmic idea of another heavily disrupted summer and had been busily advertising to an increasingly inoculated UK population. However, the significantly slower pace of the vaccine rollout in the EU, a spike in infections in mainland Europe, and the emergence of new variants has complicated the picture.

"The risk, and one being increasingly acknowledged by government ministers, is this summer is even worse than last for the travel space as the UK keeps restrictions in place to avoid undermining its hard-won success with the vaccine."

Elsewhere, Deliveroo said it will be worth just under GBP9 billion on admission to the London Main Market, as the company edges closer to its float and continues to see increased demand for its takeaway food delivery service.

Deliveroo will price its initial public offering between GBP3.90 and GBP4.60 per share. This would imply a market capitalisation between GBP7.6 billion and GBP8.8 billion. It will be the biggest IPO of 2021 so far.

The IPO will consist of 384.6 million shares, though this does not include any over-allotment stock. At the low end of the price range, this would value the offer at GBP1.5 billion, of which GBP1 billion will be for the company from new shares.

The pound was quoted at USD1.3864 at midday on Monday, down from USD1.3874 at the London equity market close on Friday.

The euro was priced at USD1.1927, higher from USD1.1901. Against the yen, the dollar was trading at JPY108.68, down from JPY108.86.

Brent oil was quoted at USD64.40 a barrel Monday at midday, up from USD64.07 at the London equities close on Friday. Gold was trading at USD1,737.57 an ounce, down slightly from USD1,739.97.

US stock market futures were pointed mostly higher as US treasury yields were easing from recent high levels.

The Dow Jones Industrial Average was called down 0.1%, but the S&P 500 was called up 0.2% and the Nasdaq Composite up 0.8%.

The 10-year US Treasury yield stood at 1.68% on Monday around midday in London, narrowing from 1.69% at the same time on Friday. The yield had jumped above 1.77% at its high last week, reaching its widest point since January 2020.

By Arvind Bhunjun; arvindbhunjun@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

More News
21 Mar 2023 17:32

Easing bank crisis fears help UK stocks rise, Fed meeting in focus

Kingfisher slides on dour forecast, falling profit

*

Read more
21 Mar 2023 17:00

LONDON MARKET CLOSE: Banks lead London higher as confidence returns

(Alliance News) - Stock prices in London closed sharply higher on increased confidence that a full-blown banking crisis has been avoided, following concerted action across the globe.

Read more
21 Mar 2023 11:57

LONDON MARKET MIDDAY: Banking crisis fears calm; Fed decision looms

(Alliance News) - Stock prices in London were higher at midday on Tuesday, with banking stocks continuing to lead the rise in the FTSE 100 as market fears of a banking crisis subsided.

Read more
21 Mar 2023 10:10

Crypto redemption

STOXX 600 up 1.5%

*

Read more
21 Mar 2023 09:20

LONDON BROKER RATINGS: Exane BNP raises Sainsbury to 'outperform'

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning:

Read more
21 Mar 2023 09:17

LONDON MARKET OPEN: Banks at top of FTSE 100 as sentiment improves

(Alliance News) - Stock prices in London opened higher on Tuesday, with banks at the top of the FTSE 100 after a tumultuous few days for the financial sector.

Read more
21 Mar 2023 09:15

European insurers have negligible exposure to AT1s

STOXX 600 up 1.4%

*

Read more
21 Mar 2023 09:10

TOP NEWS: Kingfisher suffers annual profit fall but maintains dividend

(Alliance News) - DIY retailer Kingfisher PLC on Tuesday reported a sharp drop in profit in its most recently ended financial year but said the performance was in-line with its expectations and guidance against a strong comparator year.

Read more
21 Mar 2023 08:49

Financials prop up the STOXX

Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at

FINANCIALS PROP UP THE STOXX (0844 GMT)

Read more
21 Mar 2023 07:57

LONDON BRIEFING: Kingfisher's profit falls amid increased discounting

(Alliance News) - Stocks were set to open higher on Tuesday after the buyout of Credit Suisse by UBS at the weekend helped soothe worries of a full-blown banking crisis.

Read more
21 Mar 2023 07:46

Kingfisher FY profits, revenues decline

(Sharecast News) - B&Q and Screwfix owner Kingfisher posted a drop in full-year profit on Tuesday as sales dipped, with trade normalising following a boost from the pandemic, and said profits are expected to fall again this year.

Read more
21 Mar 2023 07:38

Futures point to bounce in Europe

Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at

FUTURES POINT TO BOUNCE IN EUROPE (0718 GMT)

Read more
20 Mar 2023 12:32

Tuesday preview: UK public sector borrowing, Kingfisher in the spotlight

(Sharecast News) - Investors' focus on Tuesday would continue to be trained on the global banking sector and financial markets' reaction to the Credit Suisse rescue at the weekend.

Read more
14 Mar 2023 15:49

UK earnings, trading statements calendar - next 7 days

Wednesday 15 March 
4imprint Group PLCFull Year Results
Advanced Medical Solutions Group PLCFull Year Results
Balfour Beatty PLCFull Year Results
Centaur Media PLCFull Year Results
FDM Group Holdings PLCFull Year Results
Ferrexpo PLCFull Year Results
Foresight Solar Fund LtdFull Year Results
IG Group Holdings PLCQ3 Results
Keywords Studios PLCFull Year Results
Kin & Carta PLCHalf Year Results
Marshalls PLCFull Year Results
MaxCyte IncFull Year Results
Prudential PLCFull Year Results
Trainline PLCTrading Statement
Thursday 16 March 
Capital LtdFull Year Results
Centamin PLCFull Year Results
Deliveroo PLCFull Year Results
DFS Furniture PLCHalf Year Results
Empiric Student Property PLCFull Year Results
Eurocell PLCFull Year Results
Gelion PLCHalf Year Results
Gem Diamonds LtdFull Year Results
Gym Group PLCFull Year Results
Halma PLCTrading Statement
Helios Towers PLCFull Year Results
Hostmore PLCFull Year Results
Investec PLC and LtdTrading Statement
National World PLCFull Year Results
OSB Group PLCFull Year Results
PensionBee Group PLCFull Year Results
Polymetal International PLCfull Year Results
PYX Resources LtdFull Year Results
Rentokil Initial PLCFull Year Results
Restore PLCFull Year Results
Savills PLCFull Year Results
TI Fluid Systems PLCFull Year Results
WAG Payment Solutions PLCFull Year Results
Friday 17 March 
no events scheduled 
Monday 20 March 
Jubilee Metals Group PLCHalf Year Results
Tuesday 21 March 
Alliance Pharma PLCFull Year Results
Aptitude Software Group PLCFull Year Results
Boku IncFull Year Results
Diversified Energy Co PLCFull Year Results
Ergomed PLCFull Year Results
Fintel PLCFull Year Results
Henry Boot PLCFull Year Results
Kape Technologies PLCFull Year Results
Kingfisher PLCFull Year Results
Luceco PLCFull Year Results
MP Evans Group PLCFull Year Results
Ocado Group PLCTrading Statement
Oxford Nanopore Technologies PLCFull Year Results
Pebble Group PLCFull Year Results
Quixant PLCFull Year Results
ScS Group PLCHalf Year Results
Staffline Group PLCFull Year Results
Tissue Regenix Group PLCFull Year Results
Trustpilot Group PLCFull Year Results
YouGov PLCHalf Year Results
Zotefoams PLCFull Year Results
  
Copyright 2023 Alliance News Ltd. All Rights Reserved. 

Read more
6 Mar 2023 11:42

Jefferies upgrades Tesco, Kingfisher

(Sharecast News) - Jefferies has upgraded Tesco and Kingfisher, as part of a wider review of its UK retailer ratings.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.