FTSE 100 movers: Kingfisher and Centrica boosted by disposals as miners dip

Home improvement retailer Kingfisher edged higher after agreeing to sell a controlling 70% stake in its B&Q China business to Wumei Holdings for £140m.

“I am delighted to have found a strong retail partner who will help us to release the financial value of our business in China," said new boss Véronique Laury. "This will enable us to focus our financial resources and management talent on the large and attractive European home improvement market."

Centrica’s share price also rose after the company sold its interest in a project in the Irish Sea. The sale will bring in £50m, which underscores Centrica’s retreat from offshore wind projects.

Tesco fell after The Financial Reporting Council announced a fresh inquiry over the financial team’s overstatement on profits. The latest blow to the ailing retail group will involve a full investigation of auditor PwC’s behaviour in relation to the preparation and approval of accounts going back to February 2012.

Mining stocks were limiting upside on the stock market with precious metal miners Randgold and Fresnillo among the worst performers as gold and silver prices fell.

FTSE 100 - Risers

Admiral Group (ADM) 1,340.00p +2.37%
Kingfisher (KGF) 330.80p +2.04%
London Stock Exchange Group (LSE) 2,251.00p +1.86%
Smith & Nephew (SN.) 1,108.00p +1.74%
BAE Systems (BA.) 470.60p +1.71%
Johnson Matthey (JMAT) 3,408.00p +1.70%
Reed Elsevier (REL) 1,096.00p +1.67%
Compass Group (CPG) 1,104.00p +1.66%
Capita (CPI) 1,093.00p +1.58%
Land Securities Group (LAND) 1,173.00p +1.56%

FTSE 100 - Fallers
Randgold Resources Ltd. (RRS) 4,157.00p -6.18%
Tullow Oil (TLW) 405.00p -4.53%
Fresnillo (FRES) 716.00p -3.11%
TUI AG Reg Shs (Post- 16/12/14)(DI) (TUIJ) 1,042.00p -2.89%
Tesco (TSCO) 180.45p -2.67%
Anglo American (AAL) 1,171.00p -1.84%
Weir Group (WEIR) 1,872.00p -1.73%
BG Group (BG.) 885.90p -1.71%
RSA Insurance Group (RSA) 446.00p -0.80%
Aviva (AV.) 491.60p -0.69%