LONDON MARKETS: Kingfisher Leads Losses In London After Trading Update

By Carla Mozee, MarketWatch

LONDON (MarketWatch) -- Stocks in the U.K. fell Thursday, with shares of Kingfisher PLC dropping after a downbeat trading update from the home-improvement retailer.

The FTSE 100 fell 0.3% to 6,780.51.

Kingfisher shares were the leading decliner, with a slide of 7.3%. In its trading report Thursday, the retailer said trading in its markets in the second-quarter, notably in June, has been "slower than anticipated, particularly in France and Poland."

But shares of Reed Elsevier PLC rose 1.7% as the publishing and information services company backed its outlook for the year, even though first-half profit fell, on lower revenue.

Also, mining stocks gained after a preliminary gauge of Chinese manufacturing activity from HSBC hit an 18-month high in July. China is a major buyer of metals and other natural resources.

Antofagasta PLC rose 1.4%, Glencore PLC tacked on 0.3% and Rio Tinto PLC (RIO) moved up 0.2%.

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