FTSE 100 Modestly Higher; Kingfisher Up Sharply After Raising Profit Forecast

U.K.’s FTSE 100 index is modestly higher around noon on Tuesday with investors largely making cautious moves, reacting to some corporate news, and looking ahead to a fresh batch of U.S. economic data.

The FTSE 100 was up 30.65 points or 0.32% at 9,565.56 a few minutes before noon.

Shares of home improvement retailer Kingfisher are rising 5.2% after the company raised its profit outlook. For the third quarter, the company posted sales of GBP 3.252 billion, up 1% from last year. On like-for-like basis, sales grew by 0.9%.

Kingfisher expects adjusted pre-tax income of GBP 540 million to GBP 570 million for the full-year, compared with the earlier guidance of GBP 480 million to GBP 540 million.

Airtel Africa is up 4%, and Antofagasta is climbing up 2.75%. Burberry Group, Anglo American Plc, Metlen Energy & Metals, Lloyds Banking Group, Vodafone Group, Natwest Group, BT Group, Barratt Redrow and Barclays are up 1.5 to 2.3%.

Rolls-Royce Holdings, Mondi, Imperial Brands, Next, Rio Tinto, SSE and WPP are also up with solid gains.

Easyjet is down 2.7% despite reporting better-than-expected full-year operating profit.

Beazley is plunging nearly 10% after the company warned of growth slowdown. The company has cut its annual insurance written premiums forecast to a growth rate of flat to low single digits from an earlier forecast of low to mid single digits.

Intertek Group is down 4.5%, while Compass Group is down 2.3%. Auto Trader Group, Croda International, IAG, Pearson, Tesco and Hiscox are also notably lower.