Kingfisher, Inland Homes and Savills

“The FTSE100 was on the back foot in early trading in the wake of sizeable falls on Wall Street and in Asia overnight,” says AJ Bell Investment Director Russ Mould.

“Kingfisher was the biggest blue-chip faller in early trading with political uncertainties outweighing positive full-year results. The group continues to by buoyed by its Screwfix arm where like-for-like sales rose by 13.8%. Total sales at the group’s DIY chain B&Q fell by 3.3% although like-for-like sales were up by 3.1%. But Kingfisher has flagged concerns over the UK economic outlook following the EU referendum and it is cautious on the outlook for France, especially in light of the forthcoming presidential elections. Kingfisher’s shares were down by more than 3.2%.

“Brownfield regeneration specialist Inland Homes’ shares rose after the group was given planning consent for more than 1200 homes. The group is focused on the South and South East of England where property pressures remain the most intense and now has a pipeline of 2,340 permitted plots. Inland Homes’ shares were up by over 1.9% in early trading.

“Estate agent Savills increased its total dividend by 12% following a record performance despite geopolitical distractions in some of its markets. The group benefited from the scale of its operations across the globe, which have grown substantially over recent years, as well as a highly resilient performance in the UK.”

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