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BUZZ-Kingfisher: bottom of STOXX on "more uncertain" UK outlook

Wed, 21st Mar 2018 08:29

** Kingfisher down 7.5 pct and on track for worstday since June 2016

** Co beats forecasts with a 1.3 pct rise in annual profit,but that is overshadowed by UK outlook and Q4 trading reflectingweaker demand there for big ticket items

** "The tone of the outlook statement is not particularlyencouraging, with management reiterating its confidence in itstransformation plan but warning of potential further"disruption"," Morgan Stanley says

** MS suspects that consensus forecasts for FY 2018/19 willcome down by c.3-4% to reflect the weak trading in the UK

** Stock bottom of Stoxx 600 as well as FTSE 100

** Third most actively traded on Stoxx 600

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