Nov 25 (Reuters) – The UK’s FTSE 100 touched a one-month closing high on Monday, joining a global rally fuelled by Scott Bessent’s nomination as U.S. Treasury secretary, while Kingfisher slumped after the home improvement retailer issued a profit warning.
Kingfisher shares (KGF.L), tumbled 13.2%, the biggest decliner among the FTSE 100 components, after it warned of a 45 million pound ($57 million) hit to 2025/26 profit from tax raising measures in government budgets in both the UK and France.
“Kingfisher has a growth problem and until the backdrop radically improves, it is stuck in quicksand, slowing sinking,” said Russ Mould, investment director at AJ Bell. “Consumer sentiment remains patchy and economic growth lacklustre, which suggests darker days ahead for Kingfisher.”
The blue-chip FTSE 100 (.FTSE), however rose 0.4% to its strongest close since October 22.
Shares of heavyweight miners Glencore (GLEN.L), Anglo American (AAL.L),…
