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All things considered, the FTSE 100 index is having a great year — up 11% as I type this.
But some of its members aren’t faring quite so well. And there’s one stock in particular that could be in for a rough ride next month.
Not looking good
B&Q and Screwfix owner Kingfisher (LSE: KGF) is down to report its latest set of half-year numbers on 23 September. Personally, I’m a bit cautious about what the market might make of them.
Shares in the £5bn cap business have been pretty volatile of late. Positive momentum in the first half of the year — helped by some encouraging Q1 figures in May — has been lost. Much of this may be down to analysts getting (even more) pessimistic about the UK economy and speculating that cyclical sectors like DIY could suffer as real wage growth slows and unemployment concerns increase.
Perhaps this helps to explain the current popularity…
