MARKET TALK: StanChart's Update Strong But Likely Priced In

28th Jun 2010 07:11

0611 GMT [Dow Jones] Standard Chartered's (2888.HK) interim trading update out lunch time mostly continues 1Q10 trends, stock likely won't react much in afternoon; shares +0.7% at HK$205.80 at interval. Emerging markets-focused lender says it had strong performance in 1H10, driven by both consumer banking, wholesale banking businesses. Says 1H income expected to be flat from year-ago period, but should show double-digit growth over 2H09; encouraging is bank says it's "taking market share," and loan impairment trends "very good" in all businesses. Tone of trading statement appears strong but is flagged, captured by stock's 20.1% outperformance vs HSBC (0005.HK) (+4.3% year-to-date vs HSBC down 15.8%). ([email protected]) Contact us in Singapore. 65 64154 140; [email protected] (END) Dow Jones Newswires June 28, 2010 02:11 ET (06:11 GMT)