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| Version 1 | Version 2 |
|---|---|
| London Market Report | London Market Report |
| (about 1 hour later) | |
| (Noon): Shares on London's main stock market turned higher in mid-morning trade, after opening lower. | |
| The FTSE index was up 6 points, or 0.09%, at 6804.44. | |
| Shares in the DIY group Kingfisher were the biggest fallers, down more than 7% after worse than expected second quarter earnings. | Shares in the DIY group Kingfisher were the biggest fallers, down more than 7% after worse than expected second quarter earnings. |
| Shares in the budget airline group EasyJet also fell, down about 4%, after its profit forecast failed to meet investor expectations. | Shares in the budget airline group EasyJet also fell, down about 4%, after its profit forecast failed to meet investor expectations. |
| The group predicts pre-tax profit for the year to September to be between £545m and £570m. | The group predicts pre-tax profit for the year to September to be between £545m and £570m. |
| "We think that this outlook statement adds to investor unease that consensus forecasts have generally run ahead," said Cantor Fitzgerald analyst Robin Byde. | "We think that this outlook statement adds to investor unease that consensus forecasts have generally run ahead," said Cantor Fitzgerald analyst Robin Byde. |
| Kingfisher said the distraction of the World Cup and weaker trading in France and Poland had hurt trading. | Kingfisher said the distraction of the World Cup and weaker trading in France and Poland had hurt trading. |
| "Our markets in the second quarter, notably in June, have been slower than anticipated particularly in France and Poland," admitted Kingfisher's chief executive Sir Ian Cheshire. | "Our markets in the second quarter, notably in June, have been slower than anticipated particularly in France and Poland," admitted Kingfisher's chief executive Sir Ian Cheshire. |