Britain's FTSE 100 Advances as Kingfisher Jumps on Profit Beatby
U.K. stocks gained for a second day, rising with European stocks that more than recouped losses recorded after Tuesday’s deadly terror attacks in Brussels.
Kingfisher Plc, Europe’s largest home-improvement retailer, climbed 3 percent after reporting profit that beat estimate amid growth in the U.K. and Poland. Carnival Corp. rebounded after news of the attacks yesterday weighed on travel stocks. Sky Plc rose 2.4 percent after Exane BNP Paribas upgraded the stock to outperform. J Sainsbury Plc advanced 1.3 percent, on track for an April 2015 high, after Barclays Plc wrote positively about its takeover of Home Retail Group Plc. Randgold Resources Ltd. led mining stocks lower.
The benchmark FTSE 100 Index added 0.2 percent to 6,207.06 in London, heading for a 2016 high. The broader FTSE All-Share Index and Ireland’s ISEQ Index also increased. This year, the FTSE 100 has lost 0.6 percent, posting the best performance among major European markets, as the pound weakened and commodity producers rebounded.