By Sara Sjolin, MarketWatch
Kingfisher rises 2.7% after collapsed Mr Bricolage deal
LONDON (MarketWatch) -- The U.K.'s benchmark stock index was on
track to break a four session losing streak on Monday, with shares
of Kingfisher PLC leading the charge higher after a collapsed
takeover deal.
The FTSE 100 index gained 0.5% to 6,890.11, recovering after
closing at the lowest level in 10 days on Friday.
Kingfisher shares jumped 2.7% after the home-improvement
retailer said a deal to buy French do-it-yourself firm Mr Bricolage
has collapsed.
Shares of WPP PLC (WPPGY)climbed 1.7% to GBP15.66 after UBS
lifted the price target on the advertising giant to GBP17. The
analysts cited a "robust outlook" and "results having been slightly
stronger than expected" as reasons behind the target change.
Compass Group PLC picked up 1.2%. The catering company said it's
having a strong first half of the year, with expected organic
revenue growth around 5.5%. Earnings for the six months to March 31
are due on May 13.
On a more downbeat note, shares of Wm. Morrison Supermarkets PLC
slipped 0.2% after Goldman Sachs cut the food retailer to neutral
from buy.
Later in the morning, mortgage approvals and consumer-credit
numbers for the U.K. are due. HSBC analysts expect mortgage
approvals to have risen for a third straight month in February,
"although this will still leave the number of loans down 12%
compared with February 2014."
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