U.K. FTSE 100 Index Retreats, Paced by Kingfisher; Johnson Matthey Falls

(Bloomberg) -- U.K. stocks declined, led by
retailers after Sports Direct International Plc said it expects
flooding and higher interest rates to hurt earnings this year.
Kingfisher Plc and Home Retail Group Plc led the drop in the FTSE
100.

Johnson Matthey Plc fell after the company reported first-
quarter earnings. Friends Provident Plc slid after Societe
Generale lowered its recommendation on the shares. Yell Group Plc
paced advancing shares.


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