Standard Chartered's Byron Grote shows faith after shares slide
31st Oct 2014 10:39
Standard Chartered non-executive director Byron Grote gave a show of support for the financial services group after its share price slumped. The director purchased 10,000 at 952.30p apiece, spending a total of £95,230. The Asia-focused lender on Tuesday reported a 21% drop in commercial client reve
Read moreFTSE 100 movers: Smith and Nephew rises after first quarter results
30th Oct 2014 16:14
Medical devices maker Smith & Nephew rose strongly after it posted a 3% increase in both revenue and profit for the third quarter, thanks to an improvement in its emerging and international markets units, recent product launches and investment in the sales force. On an underlying basis, turnover cli
Read moreStanChart drops after US re-opens investigations into Iran dealings
30th Oct 2014 13:13
Shares in StanChart have fallen for a fourth day amid reports US prosecutors have re-opened their investigations into whether the lender withheld information into the possible violation of the sanctions regime on Iran. That comes after the lender entered into a deferred prosecution agreement in 201
Read moreBroker tips: Intertek, Next, StanChart
29th Oct 2014 16:13
JP Morgan on Wednesday analysts Robert Plant, Chris Gallagher and Jolyon Wellington reiterated their 'overweight' recommendation on shares of testing services firm Intertek. That followed a meeting with the company's chief executive officer, Wolfhart Hauser, on Tuesday afternoon. "It was an interes
Read moreCharles Stanley downgrades StanChart to 'hold'
29th Oct 2014 11:23
Broker Charles Stanley has lowered its recommendation on shares of Standard Chartered to 'hold'. That follows the "stark" reversal by management on its outlook for underlying profits in the second half of the year. Just a few months ago it had been saying that momentum was ahead of that seen in the
Read moreLondon close: Markets stabilise ahead of Fed meeting
28th Oct 2014 16:35
UK stocks ended Tuesday's session on an upbeat note thanks to a strong performance by the mining sector and a level of stability not seen on markets for several weeks. The FTSE rose early on, dipped around 10:30, but recovered to deliver a steady performance throughout the afternoon, ultimately endi
Read moreFTSE 100 movers: StanChart slides after third-quarter results disappoint
28th Oct 2014 14:46
Shares in banking group Standard Chartered dropped after the company reported a 16% decline in operating profit in the third quarter and said that full-year earnings would be lower than last year. Shares in banking counterpart Standard Chartered dropped after the company reported a 16% decline in op
Read moreSector movers: Standard Chartered, Lloyds drag UK banks lower
28th Oct 2014 13:20
The second profit warning in a year from Standard Chartered and some underwhelming results from Lloyds ensured that the banking sector was the worst-performing segment in London on Tuesday. Shares of Asia-focused StanChart were down 9% in afternoon trade after the bank warned that second-half underl
Read moreAnalysts lower targets for StanChart after second profit warning this year
28th Oct 2014 09:35
Analysts at Numis Securities and Investec have cut their target prices for shares of Standard Chartered after the emerging markets-focused bank warned that second-half underlying profits would be below last year's. The stock fell sharply on Tuesday morning after StanChart issued its second profit wa
Read moreTuesday broker round-up UPDATE
28th Oct 2014 09:18
Afren: Credit Suisse lowers target price from 132p to 115p staying with its outperform rating. African Barrick Gold: Westhouse moves target price from 230p to 240p and keeps an add rating. Anglo American: Investec reduces target price from 1603p to 1588p and keeps a buy recommendation. APR Energy:
Read moreLondon open: UK stocks rise, but Lloyds and StanChart fall
28th Oct 2014 08:54
Despite some heavy falls from banking heavyweights Lloyds and Standard Chartered, UK stocks advanced on Tuesday morning as the FTSE 100 rebounded from a one-week low. London's benchmark index was up 0.6% at 6,404 in early deals, helped by decent gains from oil major BP. The Footsie closed at 6,363.
Read moreLondon pre-open: Calm session expected ahead of Wednesday's FOMC decision
28th Oct 2014 07:42
London's blue chips are set for a reversal of Monday's losses, with a degree of calmness expected in markets ahead of Wednesday's Federal Open Market Committee (FOMC) meeting. City sources predict the FTSE 100 will open around 32 points higher than Monday's close of 6,363.46. "It's been a very calm
Read moreStanChart lowers second half profit guidance - UPDATE
28th Oct 2014 06:19
Asia-focused lender Standard Chartered (StanChart) saw operating income rise by 1% in the third quarter, despite a 21% drop in commercial client revenues to $294m. However, a 4.1% increase in expenses pushed operating profits lower to $1.99bn. Further weighing on the lender's results, impairment lo
Read moreTuesday broker round-up UPDATE
21st Oct 2014 08:50
African Barrick Gold: JP Morgan cuts target price from 340p to 300p and stays with its overweight rating. Anglo American: JP Morgan raises target price from 1240p to 1310p, while leaving its underweight rating unchanged. Investec increases target price from 1573p to 1603p and stays with its buy reco
Read moreMonday broker round-up UPDATE
20th Oct 2014 09:48
African Barrick Gold: Westhouse Securities cuts target price from 285p to 230p maintaining an add rating. Antofagasta: Westhouse Securities reduces target price from 805p to 720p retaining its neutral rating. Centamin: Westhouse Securities shifts target price from 65p to 70p upgrading to buy. DCC:
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