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

IGA, may distribute information/research produced by its respective foreign marketing partners within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

This information/research prepared by IGA or IGA Group is intended for general circulation. It does not take into account the specific investment objectives, financial situation or particular needs of any particular person. You should take into account your specific investment objectives, financial situation or particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. 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. In addition to the disclaimer above, the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.

See important Research Disclaimer.