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Latest Share Chat

BUZZ-Kingfisher: multi-month lows as Street's optimism fading

Wed, 05th Nov 2014 09:04

** Home improvements retailer Kingfisher hits 18-1/2month lows as Deutsche Bank sounds note of caution on upcomingquarters.

** Broker cuts rating to "hold" vs "buy" in run up to co'sQ3 trading update on Nov 25.

** Notes weak end markets & negative currency continue totake toll on earnings; comparison base becoming progressivelymore challenging in Q4 & Q1 with no obvious respite fromconsumer.

** Stock down 2.3 pct, second-worst performer faller on a0.5 pct firmer FTSE 100 index.

** Volume solid with a third of 90-day daily average alreadytraded less than hour after open.

** Weakness comes even as peer M&S leaps nearly 8 pct onearnings beat, margins outlook.

** Underperforms other peers; Home Retail up 1.6pct, Next 0.9 pct firmer, Debenhams up 0.3 pct. (RM: tricia.wright1.thomsonreuters.com@reuters.net)

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