News article

Kesa and Dixons enjoy strong growth

Kesa and Dixons enjoy strong growth
The FTSE 250 fell in stock market trading on Monday (May 16th), but two major electrical firms enjoyed significant boosts.

Kesa and Dixons went against the overall trend in the second-tier index by growing by 5.3 per cent and 5.4 per cent, reported the Financial Times.

This growth has been prompted by suggestions over the weekend that the former organisation may be getting ready to sell off UK retailer Comet, one of several electrical firms the company owns in Europe.

While this potential change added value to the shares of Kesa and Dixons, it did not stop the overall FTSE 250 slipping by 0.2 per cent. The FTSE 100 experienced losses of 0.1 per cent.

Speaking to the news provider, IG Markets analyst Cameron Peacock added: "The general theme of risk aversion comes back into play.

"Friday's negative leads from Wall Street and renewed falls in commodity prices have been weighing through the Asian session."

Kesa is listed on Euronext, as well as the London Stock Exchange.

Posted by Clive ArneilADNFCR-1681-ID-800534703-ADNFCR