Business

Kingfisher shares up on revamp plan

  • 31 March 2015
  • From the section Business
Trader in London

(Open): Shares in Kingfisher led the FTSE 100 higher after it announced plans to close about 60 B&Q stores over the next two years.

Kingfisher shares rose 3.7% after its new chief executive Veronique Laury unveiled plans to revamp the business, which also include the closure of some loss-making stores in Europe.

The FTSE 100 index rose 6.90 points to 6,898.33.

Outsourcing firm Mitie fell 5.9% after it issued a profit warning.

The company said that due to "market pressures in the homecare and social housing businesses we expect our full year headline operating profit to be slightly below current market expectations".

Thomas Cook shares rose 2.3% after the travel firm said it was on track to meet full-year forecasts, helped by strong winter bookings.

On the currency markets, the pound fell 0.21% against the dollar to $1.4779, while against the euro, sterling rose 0.39% to €1.3719.