Wednesday preview: Standard Chartered unveils second quarter results

25th Jun 2013 14:45

British multinational banking and financial services company Standard Chartered is due to release its second quarter results on Wednesday.Investec said its expectations are "mixed" in a note issued on Tuesday. The broker believes the second quarter is likely to show some continuing revenue headwinds, including margin pressures and weakness in its account. However, with easier competition during the period, the analyst thinks a 8.0% quarter-on-quarter revenue rise is "still feasible", compared to a 2.0% climb in the first quarter."We regard Standard Chartered's extended period of underperformance as understandable in the context of broader emerging market-related concerns, but we do not consider that its current relative or absolute valuations are rational," said Investec analyst, Ian Gordon.In its first quarter interim management statement on May 8th, Standard Chartered reported a continuation of strong volume growth combined with a stabilisation of margins in April. Since then, emerging market currencies, most notably the Indian Rupee, have weakened sharply, which Investec believes will take the edge off reported revenue performance in US dollars in its second quarter results. Investec recommended a 'buy' rating and a target price of 1,900p, saying the traditionally expensive stock has morphed into one that is good value for money.On the economic front, consumer confidence figures in the UK will be unveiled. Wednesday, June 26th FINALSHayward Tyler GroupThe Real Good Food CompanyTRADING ANNOUCEMENTSStandard CharteredAGM Aberdeen New Thai Inv TrustAEC EducationAriana ResourcesBlackRock Smaller Companies TrustBrightside GroupBumiCarador Income Fund USD SharesCellcastDatang International Power Generation Co Ltd.Eurasia MiningExillon EnergyHerencia ResourcesInvestors In Global Real Estate LtdJSC Chelyabinsk Zinc Plant GDR (Reg S)KEFI MineralsLewis Php.5%Pf 5% Cum Prf Stk #1Messaging InternationalMobile Tornado GroupNatasa Mining Ltd. (DI)New Century AIM VCT 2Northern PetroleumOSJC Center for Cargo Container Traffic Transcontainer GDR (Reg S)Press Corp. GDR (Reg S)PuricoreShidu CapitalSilence TherapeuticsTEG Group (The)Tinci Holdings Ltd. (DI)Ukrproduct Group LtdUMC EnergyViperaWalker GreenbankWestside InvestmentsEGMAna Holdings Inc.Carador Income Fund USD SharesGMsHellenic Telecom Industries SA ADSANNUAL REPORTGriffin Mining Ltd.Iomart GroupFINAL EX-DIVIDEND DATEAberdeen All Asia Inv TrustAshley (Laura) HoldingAurora Investment TrustBlue Planet International Financials Investment TrustBraemar Shipping ServicesBrown (N.) GroupCaffynsCharles Stanley GroupCrawshaw GroupDairy Crest GroupDowning Planned Exit VCT 2 'C' SharesDowning Planned Exit VCT 2 'D' SharesDowning Planned Exit VCT 2 'F' SharesDowning Planned Exit VCT 3 'C' SharesDowning Planned Exit VCT 3 'D' SharesDowning Planned Exit VCT 3 F SharesEnsor HoldingsFirst DerivativesFuller Smith & TurnerHogg Robinson GroupICAPIFG GroupKCOM GroupMitie GroupMontanaro European Smaller Companies TrustMontanaro UK Smaller Companies Inv TrustNewRiver Retail Ltd. (Reg S)NextNorcrosOctopus VCTPayPointPetropavlovskREA HoldingsTate & LyleTR Property Inv TrustUK Mail GroupVertu MotorsVislinkWalker Crips GroupFINAL DIVIDEND PAYMENT DATEDillistone GroupPremier FarnellShareSpectrisINTERIM EX-DIVIDEND DATEAlternative NetworksAndrews Sykes GroupCoca-Cola HBC AG (CDI)Compass GroupJupiter Green Inv TrustNoble Investments (UK)Octopus Titan VCT 1Octopus Titan VCT 2Octopus Titan VCT 4One Media IP GroupRWS HoldingsINTERIM DIVIDEND PAYMENTMajedie InvestmentsSPECIAL EX-DIVIDEND PAYMENTPayPointQUARTERLY EX-DIVIDENDAfrica Opportunity Fund Ltd.Dow Chemical CoMercantile Investment Trust (The)Molex Inc.Molex Inc. 'A' SharesSchroder Income Growth FundYamana Gold Inc.UK ECONOMIC ANNOUCEMENTCBI Distributive Trades Surveys (11:00)Consumer Confidence (09:30)GFK Consumer Confidence (00:01)INTERNATIONAL ECONOMIC ANNOUNCEMENTSBuilding Permits (US) (13:30)Crude Oil Inventories (US) (14:30)GDP (Final) (US) (13:30)GFK Consumer Confidence (GER) (07:00)MBA Mortgage Applications (US) (12:30)INTERIM DIVIDEND PAYMENTMajedie InvestmentsSPECIAL EX-DIVIDEND PAYMENTPayPointQUARTERLY EX-DIVIDENDAfrica Opportunity Fund Ltd.Dow Chemical CoMercantile Investment Trust (The)Molex Inc.Molex Inc. 'A' SharesSchroder Income Growth FundYamana Gold Inc.UK ECONOMIC ANNOUNCEMENTCBI Distributive Trades Surveys (11:00)Consumer Confidence (09:30)GFK Consumer Confidence (00:01)INTERNATIONAL ECONOMIC ANNOUNCEMENTSBuilding Permits (US) (13:30)Crude Oil Inventories (US) (14:30)GDP (Final) (US) (13:30)GFK Consumer Confidence (GER) (07:00)MBA Mortgage Applications (US) (12:30)