LONDON MARKETS: FTSE 100 Breaks Four-session Losing Streak

By Sara Sjolin, MarketWatch

Kingfisher rises 2.7% after collapsed Mr Bricolage deal

LONDON (MarketWatch) -- The U.K.'s benchmark stock index was on track to break a four session losing streak on Monday, with shares of Kingfisher PLC leading the charge higher after a collapsed takeover deal.

The FTSE 100 index gained 0.5% to 6,890.11, recovering after closing at the lowest level in 10 days on Friday.

Kingfisher shares jumped 2.7% after the home-improvement retailer said a deal to buy French do-it-yourself firm Mr Bricolage has collapsed.

Shares of WPP PLC (WPPGY)climbed 1.7% to GBP15.66 after UBS lifted the price target on the advertising giant to GBP17. The analysts cited a "robust outlook" and "results having been slightly stronger than expected" as reasons behind the target change.

Compass Group PLC picked up 1.2%. The catering company said it's having a strong first half of the year, with expected organic revenue growth around 5.5%. Earnings for the six months to March 31 are due on May 13.

On a more downbeat note, shares of Wm. Morrison Supermarkets PLC slipped 0.2% after Goldman Sachs cut the food retailer to neutral from buy.

Later in the morning, mortgage approvals and consumer-credit numbers for the U.K. are due. HSBC analysts expect mortgage approvals to have risen for a third straight month in February, "although this will still leave the number of loans down 12% compared with February 2014."

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