FTSE hovers on the wings of Kingfisher

The benchmark UK stock index closed up 8.1 points or 0.2% to 4556.5 after Kingfisher announced its profits are up 30%. As a result, Kingfisher closed up 9.5p or 3.3% to 299.5p. That did not generate as much excitement as the gains made at Corus, which managed to make a profit for the first time, of £100m compared with a loss of £125m this time last year. Corus gained 3p or 6.1% to 52.5p. MMO2, the mobile operator, also saw its share price climb 2.25p or 2.4% to 94.75p after one of the Spanish newspapers hinted Telefonica may be thinking of putting in a bid to buy the firm. While al...