Kingfisher Lowers Profit Outlook Amid Sales Decline

London's FTSE 100 is expected to open higher as it anticipates a strong week ahead, with key retail sales data and business confidence indicators due for release. Kingfisher, the parent company of B&Q and Screwfix, has reduced its full-year profit guidance following a mixed third quarter where total sales declined 0.6% and like-for-like sales dropped 1.1%, attributed to heightened consumer uncertainty and adverse weather. The company's adjusted pre-tax profit is now projected to be between £510 million and £540 million, down from a previous range. CEO Thierry Garnier noted that while there were strong performances from some brands, such as Screwfix, overall market conditions remain challenging. Additionally, Kingfisher faces financial impacts from recent government budget changes in both the UK and France. AstraZeneca also reported positive results from a clinical trial for a new cancer treatment, showcasing ongoing developments in the pharmaceutical sector.