BUZZ-Kingfisher: weakens after strategic update

Mon, 25th Jan 2016 08:49

** Kingfisher down 2 pct & 2nd biggest loser amongStoxx 600 retail stocks after Europe's largest homeimprovement retailer sets out its strategic plans that will hitprofits over 2 yrs

** Co says it plans to increase sustainable annual profit by500 mln stg in 5 yrs & return 600 mln stg of capital, mostly viaa buyback, over 3 yrs

** Strategic plans to hurt profit by c.50 mln stg in firstyr and 70-100 mln stg in second yr

** Stock, which has lost c.6 pct over past 6 mths, among topFTSE 100 losers on Monday

** Over two thirds of a full day's avg volume traded throughin first 30 mins (RM: esha.vaish.thomsonreuters.com@reuters.net)

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