Good morning and welcome to Markets Desk, your midday read on what's moving and why.
Microsoft shares are drawing fresh attention as analysts argue the stock's valuation discount may finally be closing. A combination of building AI catalysts and bullish technical signals has traders reconsidering MSFT's positioning, with the consensus view shifting toward meaningful upside from current levels.
Turning to earnings, Fisher and Paykel Healthcare delivered a strong fiscal twenty twenty six result, with profit climbing on higher revenue. The New Zealand medical device maker raised its dividend and issued a confident fiscal twenty twenty seven growth outlook, sending shares higher across its Australian and New Zealand listings — a clean beat that the market rewarded without hesitation.
Meanwhile, Kingfisher, the pan-European home improvement retailer, reported first quarter total group sales of three point three billion pounds, up one point four percent as reported. But underneath that headline, like-for-like sales slipped zero point nine percent, with underlying like-for-like down zero point seven. Management held firm on full-year guidance, signaling they see the softness as transitory rather than structural — a distinction the market will be watching closely as consumer spending data continues to evolve across the UK and Europe.
That's the tape. Markets Desk, signing off the floor.
