ING Rises on Planned Job Cuts as UK Retailer Kingfisher Falls on Sales Slump - Video - TheStreet

ING Rises on Planned Job Cuts as UK Retailer Kingfisher Falls on Sales Slump

European stocks rose Tuesday after a report from Germany’s Federal Statistics Office showed that growth is gathering pace in Europe’s largest economy.
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European stocks rose Tuesday after a report from Germany’s Federal Statistics Office showed that growth is gathering pace in Europe’s largest economy, confirming an earlier estimate of a 0.1% rise in third-quarter GDP. ING Groep NV rose in Amsterdam as investors welcomed its plan to cut 1,700 jobs in the next three years as it seeks to expand in digital banking in the Netherlands. But Kingfisher plc fell more than 4% in London after the home-improvement retailer said sales declined 9.3% in the 13 weeks through November first, mainly dragged down by France, its biggest market. The firm remains cautious in its outlook, especially in France, with plans to focus on boosting margins and costs. The Deal's Renee Cordes reports from Brussels.

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