By Sara Sjolin, MarketWatch
Kingfisher rises 2.6% after collapsed Mr Bricolage deal
LONDON (MarketWatch) -- The U.K.'s benchmark stock index was on
track to break a four-session losing streak on Monday, with shares
of Kingfisher PLC among star performers after a collapsed takeover
deal.
The FTSE 100 index gained 0.7% to 6,899.99, recovering after
closing at the lowest level in 10 days on Friday. The index got a
boost from an upbeat session in Asia, where Chinese stocks jumped
to a seven-year closing high
(http://www.marketwatch.com/storyno-meta-for-guid) after hints of
further monetary easing from China's central-bank governor and more
details on Beijing's new "Silk Road" plan.
Kingfisher shares jumped 2.6% after the home-improvement
retailer said a deal to buy French do-it-yourself firm Mr Bricolage
has collapsed.
Shares of WPP PLC (WPPGY) climbed 1.4% to GBP15.62 after UBS
lifted the price target on the advertising giant to GBP17. The
analysts cited a "robust outlook" and "results having been slightly
stronger than expected" as reasons behind the target change.
Compass Group PLC picked up 0.9%. The catering company said it's
having a strong first half of the year, with expected organic
revenue growth around 5.5%. Earnings for the six months to March 31
are due on May 13.
Rolls-Royce Holdings PLC added 1.3% after the engine maker said
Air China Ltd. has selected its Trent 1000 engines for 15 new
Boeing 787-9 Dreamliner planes.
And Randgold Resources Ltd. gained 0.6% after the West African
gold producer said it's "looking at the growth opportunities" that
are being generated by the current squeeze in the gold
industry.
Britain's housebuilders reacted mixed to news that the U.K.
mortgage approvals rose to a six-year high in February
(http://www.marketwatch.com/story/uk-mortgage-approvals-rise-to-six-month-high-2015-03-30),
suggesting the housing market is picking up again after cooling at
the end of 2014. Shares of Taylor Wimpey PLC rose 0.3%, Persimmon
PLC added 1.3%, and Barratt Developments PLC fell 0.1%.
On a downbeat note, shares of Wm. Morrison Supermarkets PLC
slipped 0.8% after Goldman Sachs cut the food retailer to neutral
from buy.
Subscribe to WSJ: http://online.wsj.com?mod=djnwires