FTSE 100 Modestly Higher; Kingfisher Up Sharply After Raising Profit Forecast
(RTTNews) - U.K.'s FTSE 100 index is modestly higher around noon on Tuesday with investors largely making cautious moves, reacting to some corporate news, and looking ahead to a fresh batch of U.S. economic data.
The FTSE 100 was up 30.65 points or 0.32% at 9,565.56 a few minutes before noon.
Shares of home improvement retailer Kingfisher are rising 5.2% after the company raised its profit outlook. For the third quarter, the company posted sales of GBP 3.252 billion, up 1% from last year. On like-for-like basis, sales grew by 0.9%.
Kingfisher expects adjusted pre-tax income of GBP 540 million to GBP 570 million for the full-year, compared with the earlier guidance of GBP 480 million to GBP 540 million.
Airtel Africa is up 4%, and Antofagasta is climbing up 2.75%. Burberry Group, Anglo American Plc, Metlen Energy & Metals, Lloyds Banking Group, Vodafone Group, Natwest Group, BT Group, Barratt Redrow and Barclays are up 1.5 to 2.3%.
Rolls-Royce Holdings, Mondi, Imperial Brands, Next, Rio Tinto, SSE and WPP are also up with solid gains.
Easyjet is down 2.7% despite reporting better-than-expected full-year operating profit.
Beazley is plunging nearly 10% after the company warned of growth slowdown. The company has cut its annual insurance written premiums forecast to a growth rate of flat to low single digits from an earlier forecast of low to mid single digits.
Intertek Group is down 4.5%, while Compass Group is down 2.3%. Auto Trader Group, Croda International, IAG, Pearson, Tesco and Hiscox are also notably lower.
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