FTSE needs home improvement

Home-improvement retailer Kingfisher has fallen 6.5p, or 2.7%, to 232.5p. Credit Suisse has cut its pretax profit estimate for next year 12%, saying the recovery is unlikely to start until well into 2006/2007. Shell has declined 17p, or 0.9%, to 1,849p. Morgan Stanley has cut its recommendation on the shares to "equal weight" from "overweight". Centrica has also fallen 1.50% to 295.50p with dealers saying investors did not expect the bid from Russia's Gazprom to materialise. But other companies in the utility sector gained on the prospect of a move by the Russian firm into the UK m...