Kingfisher shares boosted by takeover rumour

The City is keeping a very close eye on Kingfisher.

A rumour has been doing the rounds that the B&Q owner could be a bid target, although the speculation is light on potential bidders.

Kingfisher has been on a good run since then, rising 8% during the past three days.

Sources close to the company are keen to put that down to the impact of recent results from overseas rivals such as Saint-Gobain and Lowe.

Good French consumer-confidence numbers and other solid, economic data have played a part too, they point out. Kingfisher climbed 8.9p to 369.15p.

The FTSE 100 ended the week quietly, dipping 3.98 points to 6945.75.

Mike van Dulken, head of research at Accendo Markets, said traders were likely suffering from “mild fatigue” after a data-heavy, record-breaking week on the index.

Source : Oscar Williams-Grut - Evening Standard
www.standard.co.uk/business/markets/market-report-spotlight-on-bqowner-kingfisher-as-takeover-rumours-spread-10074862.html