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Share Price: 9,368.00
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Ask: 9,370.00
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Sector movers: Retail stocks slip as Kingfisher's Q1 disappoints

Thu, 29th May 2014 14:30

Retail stocks were off shopping lists on Thursday as results from B&Q owner Kingfisher left investors unimpressed.Europe's biggest home improvement retailer, which also owns Screwfix and Mr Bricolage in France, saw shares fall after reporting retail profits of £142m in the three months ended May 3rd, up 20.3% on the year before but below the consensus estimate of £145m.Constant currency sales during the quarter were 9.2% higher at £2.78bn, though reported growth was limited to just 6.1% as foreign exchange movements and weak consumer confidence pulled sales in France slightly lower. Growth was also flattered by relatively easy comparatives with last year.B&Q reported strong growth, with revenues up 10.5% at £1.01bn. However, a jump in lower-margin sales of outdoor seasonal and building products, as well as higher promotionally-led showroom sales and increased home delivery costs, led to a fall in margins in the UK and Ireland division.Commenting on the results, Will Hedden, Premium Client Manager at IG, said: "Headline numbers might have looked peaky, but missed the all-important analyst estimates, and showed a familiar macro theme of tightening margins in the UK and a reluctant consumer in France."Kingfisher's shares were down 4.5% at 398.7p in afternoon trade, along with sector peer Home Retail (-1.3%), which owns the Argos and Homebase chains. Other stocks such as Dixons, Debenhams, Next and Carpetright were also in the red today.Top performing sectors so far todayHealth Care Equipment & Services 5,685.60 +2.73%Industrial Metals & Mining 1,260.31 +2.43%Tobacco 40,743.46 +1.33%Oil Equipment, Services & Distribution 23,987.17 +1.24%Food & Drug Retailers 3,928.20 +1.16%Bottom performing sectors so far todayGeneral Retailers 2,843.79 -1.57%Chemicals 11,031.09 -1.03%Construction & Materials 4,414.42 -0.94%Forestry & Paper 11,676.15 -0.55%Automobiles & Parts 9,162.88 -0.53%BC
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(Alliance News) - London's FTSE 100 index was outperforming other European stock-price measures at midday on Wednesday, boosted by gains for miners and industrials.

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18 Dec 2023 07:55

LONDON BRIEFING: Games Workshop seals Amazon deal for Warhammer 40,000

(Alliance News) - Stocks in London were set to retreat slightly on Monday, in line with equity markets in Asia, at the start of the last week before the Christmas holidays.

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18 Dec 2023 06:57

PRESS: Frasers Groups in talks to buy retailer Matchesfashion - Sky

(Alliance News) - Frasers Group PLC is in talks to buy Matchesfashion, a luxury clothing retailer, from its private equity owner since 2017, Apax Partners, Sky News reported on Saturday.

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14 Dec 2023 09:29

LONDON BROKER RATINGS: JPMorgan raises Compass and Marston's

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

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6 Dec 2023 09:19

LONDON BROKER RATINGS: RBC likes 3i; JPMorgan raises Ocado

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

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30 Nov 2023 15:29

UK dividends calendar - next 7 days

Friday 1 December 
abrdn Diversified Income & Growth PLCspecial dividend payment date
AEW UK REIT PLCdividend payment date
Bloomsbury Publishing PLCdividend payment date
Bytes Technology Group PLCdividend payment date
C&C Group PLCdividend payment date
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JPMorgan China Growth & Income PLCdividend payment date
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Monday 4 December 
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Next PLCex-dividend payment date
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24 Nov 2023 16:56

LONDON MARKET CLOSE: Pound jumps above USD1.26 mark on Black Friday

(Alliance News) - Global markets saw a lacklustre session this Black Friday, with European markets edging just slightly higher.

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24 Nov 2023 11:42

LONDON MARKET MIDDAY: Stocks edge lower in quiet Thanksgiving trade

(Alliance News) - Stock prices in London were down midday on Friday, in a quiet day of trade as the Thanksgiving holiday saw global markets "hit the snooze button."

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21 Nov 2023 13:04

Deutsche Bank starts coverage of 6 retail stocks; prefers Asos, B&M and M&S

(Sharecast News) - Deutsche Bank initiated coverage on six UK retail stocks on Tuesday, with a preference for Asos, B&M European Value Retail and Marks & Spencer.

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21 Nov 2023 09:54

LONDON BROKER RATINGS: Deutsche says 'buy' B&M and Marks & Spencer

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

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8 Nov 2023 14:59

London close: Retail stocks rise on mixed day for markets

(Sharecast News) - London's stock markets experienced a mixed day of trading on Wednesday after a robust performance from the retail sector, led by gains from Marks and Spencer.

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6 Nov 2023 16:45

London close: Stocks mixed, Ryanair leads low-cost airlines higher

(Sharecast News) - London's stock markets finished mixed on Monday, with low-cost airlines in focus as investors cheered Ryanair's latest figures.

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6 Nov 2023 09:34

LONDON BROKER RATINGS: RBC cuts Next but lifts Dunelm; Citi likes JD

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

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6 Nov 2023 07:57

LONDON BRIEFING: Melrose wins GE Aerospace deal; Prudential optimistic

(Alliance News) - London's FTSE 100 is set for an underwhelming start to the week, ahead of a slew of purchasing managers index readings from the continent to come.

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6 Nov 2023 07:24

RBC Capital upgrades Dunelm, downgrades Next

(Sharecast News) - RBC Capital Markets upgraded Dunelm on Monday, but downgraded Next.

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