Kingfisher

Ticker KGF

Today's data summary

Market closed
% change
-0.75%
Price Pence
252.50
Change
-1.90
As of 21:54 15 Oct 2018
Market cap. Pound sterling
5,381.55 million
As of 21:54 15 Oct 2018

Latest updates

Randgold share price slides

Randgold Resources
Randgold Resources

Randgold Resources has shifted from the FTSE 100's biggest risers to lead the largest fallers.

On Monday it announced that it was being taken over by Canada's Barrick Gold, sending its stock price higher.

Today, however, its shares have dropped 2.3% to £53.36.

Conversely Kingfisher, owner of DIY-chain B&Q, is the biggest blue chip riser on Wednesday morning, up 2% at 260p.

The wider FTSE 100 is down 0.17% at 7,494.86.

AA is the biggest faller on the FTSE 250, down 6.8% at 110p, after revealing a sharp fall in interim profits.

PZ Cussons' stock rose 2.76% to 236 despite continuing challenges in its Africa business.

It said its quarterly results were in line with expectations.

The FTSE 250 is down 0.17% at 20,425.28.

Kingfisher's troubled renovation

B&Q store
PA

Kingfisher's shares are now down 3.6%.

George Salmon, Equity Analyst at Hargreaves Lansdown feels that although things look bad for Kingfisher, the B&Q owner could still make a recovery.

"Delivering another set of disappointing numbers when expectations are already depressed isn’t a good look, but it’s not quite a case of DIY SOS just yet. The silver lining for investors is the underlying signs of progress in the long-running business makeover," he said.

"Still though, as can be the case with renovation projects, it feels like for every job Kingfisher crosses off the to-do list, another appears. Sorting out the underperforming French divisions is becoming ever more urgent.”

Evraz moves from FTSE faller to riser

On Thursday, Russian steelmaker Evraz was one of the biggest fallers on the FTSE 100. Today, it is the largest riser, up 2.1% at 471p.

B&Q-owner Kingfisher saw its share price fall for a second day, down 1.8% at 269.4p despite reporting better sales growth in the second quarter.

The wider FTSE 100 is up 0.27% at 7,576.86.

After earlier falls, the FTSE 250 is up 6.07 points at 20,468.33.

Kingfisher slides, FTSE rebounds

Kingfisher owns B&Q
Getty Images
Kingfisher's B&Q saw stronger sales during the hot weather

Industrial conglomerate Melrose is leading the FTSE 100 risers as trading heads towards midday, up 2.3% at 218.05p.

Russian steelmaker Evraz led the blue chip fallers, down 4% at 469.6p, closely followed by Kingfisher whose shares dropped 2.9% to 279.8p despite reporting a turnaround in second quarter sales.

The FTSE 100 is up 0.67% at 7,548.15.

The FTSE 250 is ahead 0.86% at 20,494.43.

Castorama weighs on Kingfisher

Kingfisher chief executive Véronique Laury
Kingfisher

While Kingfisher's second quarter sales rose across most of its operations, Castorama in France continues to experience problems.

Its like-for-like sales fell by 3.8% in the three months to 31 July, impacted by weaker footfall.

Kingfisher chief executive Véronique Laury, says: "The performance of Castorama France has been more difficult and as a result we have put additional actions in place to support our full-year performance in France with the benefits expected to come through in the second half of the year."

Sun shines on Kingfisher sales

B&Q basket
Kingfisher

B&Q-owner Kingfisher has reported a 1.6% rise in like-for-like sales during the second quarter after the weather improved.

The company said same store sales at B&Q in the UK and Ireland rose 3.6% during the three months to 31 July. Comparable trade at Screwfix, which sells to professionals, rose by 5.5%.

Kingfisher chief executive Véronique Laury, says: "In the second quarter, I'm pleased that we grew our sales after the exceptionally harsh weather conditions in the first quarter."

Pound and equities head higher

Paddy Power Betfair
Getty Images

The FTSE 100 has extended its lead and is now trading up 30.52 points at 7,622.48.

Paddy Power Betfair is biggest blue chip riser so far this morning, up 3.19% to £85.67.

B&Q-owner Kingfisher is the biggest faller, down 0.82% at 303.3p.

The FTSE 250 has lost some of its gains and is up 19.81 points at 20,662.08.

The pound is up 0.14% on the dollar at $1.3224.

BreakingBeast bites B&Q

Chris Johnston

Business reporter, BBC News

B&Q worker
Kingfisher

The Beast from the East took a big bite out of B&Q sales in the three months to 30 April: like-for-like sales at the DIY chain tumbled 9% in the UK and Ireland.

The woe was not contained to the UK for Kingfisher, however: sales at its French DIY chain Castorama also fell 8%.

Across the group, like-for-like sales slid by 4% in the quarter.

Chief executive Véronique Laury said: "It was a challenging start to the year with exceptionally harsh weather across Europe and weak UK consumer demand. This impacted footfall, especially sales of weather-related categories. February and March were particularly affected with sales improving over the course of April and into May."