Kingfisher Share News (KGF)

City sources predict the FTSE 100 will open flat after it yesterday closed at 6,649.47, with US markets closed today for the Thanksgiving holiday and no data scheduled for release in the UK. Wednesday's session saw markets finish in positive territory as investors reacted to a flurry of economic data from home and away, with sentiment lifted as indices overseas continued to set new records.The DAX in Frankfurt and the Dow Jones Industrial Average and S&P 500 in New York were all trading at or close to all-time highs, while the Nasdaq was reaching levels not seen in over 13 years during yesterday's session.The second estimate of UK gross domestic product (GDP) showed that the economy expanded by 0.8% during the three months through September, in line with the initial forecast and up from the 0.7% growth recorded in the second quarter.In company news, revenues at Wolseley rose by a solid 7.4% during its fiscal first quarter as a strong performance in its fast-growing markets of the US and UK once again helped to offset more subdued growth elsewhere. Ongoing revenues totalled £3,470m in the three months to October 31st, compared with £3,232m the year before. Like-for-like (LFL) revenues increased by 3.5%. Trading profit from continued operations increased by 9% to £218m from £200m, as the gross margin rose 0.2 percentage points to 27.6%.A weak performance in France held back third-quarter retail profits at DIY retailer Kingfisher. While UK and Irish profits were strong, and other territories even stronger, the French arm surrendered 5.6% of profits in constant currencies to limit group retail profits to a 1.7% gain, less than analysts had forecast.Rio Tinto said it will increase its mine production capacity to 360m tonnes a year at lower capital cost per tonne at its iron ore business in Western Australia. As part of a plan to optimise growth at the business, a series of low-cost brownfield expansions will bring on early tonnes to feed the expanded infrastructure which is being developed.LondonMetric Property has sold three retail parks in two separate transactions, earning a total of £31.6m. "These disposals clearly endorse the validity of our business model by demonstrating the potential value that can be created through institutionalising good quality secondary stock and demonstrates the depth of demand amongst institutional investors for well let real estate assets," the company said. UK pub retailer Marston's served up improved full-year revenue and said it had made an encouraging start to the new financial year. Revenue rose to £782.9m for the 53 weeks ended October 5th from 719.7m a year earlier. The group reported pre-tax profit of £69.8m compared to a loss of £135.5m a year before. NR