Updates from Kingfisher, John Laing Infrastructure Fund and Kier Group

Share rises for beleagured Tesco and Morrisons meanwhile the Dow Jones is bolstered

The FTSE 100 saw a 79-point hike to 6,545.2 on Friday. Tullow Oil climbed 6.8% to 424.2p (though the company's share price has fallen more than 60% since 2012) while Tesco shares also lifted, up 5.4% to 185.40p. Morrisons was also up strongly, by 3.6%, to 176.20p. In contrast shares in SSE dipped 1.4% to 1624p. Sky shares were also down, slipping 1.2% to 889p.

Across the water the Dow Jones climbed 26 points to 17,804.8, a 0.15% climb in total with oil and gas stocks gaining. The Dow ended a difficult week more than 3% higher.

We start with news from B&Q owner Kingfisher. It's selling a controlling 70% stake in its B&Q China business to Wumei Holdings Inc for £140 million. Kingfisher had previously indicated a move for a strategic Chinese partner.

The transaction is conditional on MOFCOM (Chinese Ministry of Commerce) approval and, if approved, is expected to close during the first half of next year says Kingfisher.

Véronique Laury, Kingfisher's group chief exec, says the move "will enable us to focus our financial resources and management talent on the large and attractive European home improvement market."

Next, FTSE 250-listed the John Laing Infrastructure Fundsays it has completed the acquisition of two assets from John Laing: a 50% stake in the Surrey Street Lighting project and an 80% stake in the Kirklees Social Housing project.

Overall, JLIF's total number of assets is upped to 56 with the total value of assets from John Laing and the John Laing Pension Trust coming in at approximately £61 million.

"Both assets," says David Marshall from John Laing Capital Management, "have very similar characteristics to the rest of JLIF's existing portfolio being low risk, availability based and operational."

Finally, property player Kier Group says it has been named, in a joint venture with Clancy Docwra, as a preferred bidder for Thames Water's new £1.0bn alliance, with an estimated value to the joint venture of £500m in the next five years.

The contract is expected to commence in April and will run for up to 15 years. "Through our joint venture with Clancy Docwra," says chief exec Haydn Mursell, "we will be able to support Thames Water in this innovative new alliance, helping them to maximise the performance of their estate and their assets."

Kier recently took on two major local authority outsourcing contracts in Staffordshire and Northamptonshire.

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