Kingfisher announce results tomorrow

Kingfisher is up 1% today as traders await its full-year results on Tuesday.

Kingfisher is trading at 411p, down 0.3%, as traders look forward to the company’s annual results tomorrow morning. The share price is up over 8% since the company announced its third-quarter results at the end of November. The stock price came under pressure in early February, in line with the rest of the market, because of fears concerning emerging markets. However, the share price quickly recovered.

Kingfisher is the largest home improvement retailer in Europe and the third biggest in the world. The company’s announcement in November revealed a 13% increase in group profits, which amounts to £271 million, for the 13 weeks until early November; this missed analysts’ expectations of £280 million.

The home improvements industry goes hand-in-hand with the property market, and the recent announcement that the Help to Buy scheme will be extended until 2020 should boost the already growing British property market; this could lead to higher revenue for Kingfisher.

We have been in a clear uptrend since May 2013, with the 100-hour moving average providing support at the 406p level. If the figures are good tomorrow, we could break the recent high of 416p.

Kingfisher chart

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen. 79% van de retailbeleggers lijdt verlies op de handel in CFD’s met deze aanbieder.
Het is belangrijk dat u goed begrijpt hoe CFD's werken en dat u nagaat of u zich het hoge risico op verlies kunt permitteren.
CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen.