London’s FTSE 100 was up 1.5% at 7,497.68 in afternoon trade on Monday.
B&Q owner Kingfisher gained after it reiterated annual guidance as it reported an expected fall in first-quarter sales and announced a £300m share buyback. The company said total group sales fell 5.8% to £3.2bn in the three months to April 22, in line with its expectations, against tough comparators last year when a DIY boom amid Covid lockdowns boosted revenues.
Inspection, product testing and certification company Intertek was knocked lower by a downgrade to ‘hold’ at Stifel.
Spirax-Sarco edged down as it said it was considering closing its loss-making Chromalox manufacturing facility in Soissons, France.
The company has begun a consultation with trade unions about the financial underperformance of the facility and its consequences, including potential closure of the site.
FTSE 100 – Risers
Anglo American (AAL) 3,685.00p 4.58%
Vodafone Group (VOD) 126.22p 4.23%
Royal Mail (RMG) 327.40p 3.80%
M&G (MNG) 214.40p 3.68%
Glencore (GLEN) 515.40p 3.63%
Intermediate Capital Group (ICP) 1,442.00p 3.30%
Aviva (AV.) 423.90p 2.86%
Kingfisher (KGF) 253.70p 2.80%
Endeavour Mining (EDV) 1,895.00p 2.71%
BP (BP.) 428.05p 2.60%
FTSE 100 – Fallers
Intertek Group (ITRK) 4,694.00p -4.18%
Smurfit Kappa Group (CDI) (SKG) 3,035.00p -1.97%
Harbour Energy (HBR) 447.20p -0.95%
Rolls-Royce Holdings (RR.) 82.61p -0.84%
B&M European Value Retail S.A. (DI) (BME) 419.10p -0.78%
SEGRO (SGRO) 1,110.00p -0.58%
Reckitt Benckiser Group (RKT) 6,214.00p -0.45%
Spirax-Sarco Engineering (SPX) 10,350.00p -0.43%
Tesco (TSCO) 259.30p -0.38%
WPP (WPP) 958.80p -0.19%
