FTSE 100 movers: Kingfisher rallies on new CEO; Rightmove hit by downgrade
London's FTSE 100 was down 0.1% at 7,406.47 in afternoon trade on Thursday as investors eyed the G20 summit.
B&Q and Castorama owner Kingfisher was the standout gainer as it appointed Thierry Garnier - the chief executive officer of Carrefour Asia - as its new CEO.
Garnier, whose start date is yet to be finalised, will take over from Veronique Laury and join the company in the autumn.
Russ Mould, investment director at AJ Bell, said the fact that Garnier doesn't have a background in the DIY sector might bring some fresh thinking to Kingfisher.
"And the business needs all the help it can get given how profits have been falling of late," he said.
Vodafone was on the rise following a Reuters report a day earlier that the company is set to secure EU antitrust approval for its $22bn bid for Liberty Global's cable networks in Germany and central Europe.
On the downside, Rightmove was weaker as UBS downgraded the stock to 'sell' from 'neutral', as it argued that the company would struggle to accelerate average revenue per agent growth amid a weak UK housing market.
Hiscox retreated as it announced the retirement of chief underwriting officer Richard Watson, while British Land, British American Tobacco and Experian were under the cosh as their stock went ex-dividend.
FTSE 100 - Risers
Kingfisher (KGF) 213.60p 3.79%
TUI AG Reg Shs (DI) (TUI) 757.60p 2.63%
Next (NXT) 5,620.00p 2.44%
ITV (ITV) 107.15p 2.34%
International Consolidated Airlines Group SA (CDI) (IAG) 459.45p 2.24%
NMC Health (NMC) 2,417.00p 2.16%
Marks & Spencer Group (MKS) 209.90p 1.84%
Vodafone Group (VOD) 127.94p 1.73%
Tesco (TSCO) 227.50p 1.47%
Ocado Group (OCDO) 1,152.50p 1.45%
FTSE 100 - Fallers
Rightmove (RMV) 530.90p -4.17%
Croda International (CRDA) 5,135.00p -2.84%
Auto Trader Group (AUTO) 551.40p -2.58%
British Land Company (BLND) 526.00p -2.12%
SEGRO (SGRO) 718.20p -2.02%
Carnival (CCL) 3,405.00p -2.01%
Experian (EXPN) 2,352.00p -1.80%
British American Tobacco (BATS) 2,768.50p -1.44%
DCC (DCC) 6,966.00p -1.36%
Hiscox Limited (DI) (HSX) 1,673.00p -1.36%