UK's Kingfisher down after Barclays downgrades to 'equal weight'
** Shares of British home improvement retailer Kingfisher KGF.L down 2.4% at 277.3p
** Stock is top loser on London's blue-chip index .FTSE
** Barclays downgrades stock to "equal weight" from "overweight"
** Brokerage says downgrade reflects a combination of the overall market re-rating, the market seeing through near-term earnings weakness and being more confident about the management's medium-term plan to reinvigorate its French business
** Sees KGF to report Q2 LFL sales decline of 3.5% and a PBT decline of 17% to 280 mln pounds ($367.86 mln)
** "If macro-economic factors move in Kingfisher's favour and the company executes well, then there could be a very positive scenario in which the UK business remains robust and recovery in France and Poland drives significant profit growth over the medium-term," Barclays says
** As of last close, stock up 19% YTD
($1 = 0.7612 pounds)
Reporting by Radhika Anilkumar in Bengaluru;
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