Standard Chartered, Barclays, Natwest kick off UK bank earnings this week with interest income back in focus April 24, 2023 Profit looks set to increase at the UK’s largest lenders as they line up to report first quarter earnings over the coming two weeks. The FTSE banking giants have seen relative stability over the last few weeks following the extreme volatility in March, but this stability means investors will refocus their attention on other major [...]
FTSE 100 close: Ocado delivers bumper gains while Next zips lower March 29, 2023 London’s FTSE 100 was hoisted higher by the UK’s largest retailers surging today, except high street bellwether Next, which stumbled badly. The capital’s premier index bumped more than one per cent to 7,564.28 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, surged 1.28 per [...]
Traders nervy at FTSE open after Asian bank stocks tank – despite Credit Suisse rescue March 20, 2023 The global sigh of relief at the rescue of Credit Suisse does not appear to have lasted long, with big banks battered in trading overnight in Asia. HSBC and StanChart both took more than a six per cent hit in Hong Kong as investors, already spooked by volatility in banking across the world, took flight. [...]
Standard Chartered announces $1bn buyback scheme and lifts guidance despite weak profit February 16, 2023 Standard Chartered announced a $1bn (£831m) buyback scheme and raised its guidance for the next couple of years despite its results failing to meet market expectations. Results for the bank, which has been subject to takeover speculation in recent months, were much weaker than expected. Profit in the final quarter of 2022 was significantly below [...]
What now for Standard Chartered, and why is the bank still a takeover target? February 15, 2023 Standard Chartered found itself the target of takeover talks last week, after Bloomberg reported that First Abu Dhabi Bank was ready to make an offer once the cooling off period from its last offer, which had been just weeks earlier in January, had passed. The rumours were quickly quashed by First Abu Dhabi Bank (FAB), [...]
Shares in Standard Chartered fall five per cent after First Abu Dhabi quashes hopes of £28bn take-over deal February 10, 2023 First Abu Dhabi Bank (FAB), the United Arab Emirates’ biggest lender, said it was not currently evaluating an offer for Britain’s Standard Chartered, the second time it has quashed reports of an imminent bid. News of the potential offer first came on 5 January, when FAB said it had considered a bid for London-listed Standard Chartered but was no longer doing [...]
Standard Chartered shares jump as investors swoop on renewed reports of possible £28.8bn First Abu Dhabi deal February 9, 2023 Shares in Standard Chartered jumped around 10 per cent following reports from Bloomberg that First Abu Dhabi Bank was still interested in making an offer for the London-headquartered lender. According to Bloomberg, figures at First Abu Dhabi Bank were working on a possible takeover “under the code name Silver-Foxtrot” once the cooling-off period required by [...]
UK banks’ shares slide on fears of recession and bad debt January 19, 2023 UK banks’ share prices dipped on Thursday as increasing fears of recession, bad debt and a fairly poor set of US bank earnings this week spooked investors. Barclays shed 2.8 per cent, HSBC 0.6 per cent and Standard Chartered 0.8 per cent. Domestic-focused lenders Lloyds and Natwest also traded lower, finishing down 1.0 per cent [...]
‘We’re all terrified of being accused of greenwashing’, Standard Chartered boss tells Davos January 19, 2023 Standard Chartered CEO Bill Winters demanded clear rules on climate financing at a Davos meeting as potential lenders are “terrified of being accused of greenwashing”. Winters agreed with panellists that there needed to be much more action on financing climate change initiatives. However, he warned there needed to be standards on “what’s a good project [...]
Standard Chartered mulls sale of £3bn aviation arm days after First Abu Dhabi Bank drops takeover bid January 11, 2023 Standard Chartered is considering selling its £3bn aviation finance business, the bank said today. Standard Chartered’s aviation business, which is based in Ireland, accounts for around two per cent of its total income. The business owns and manages over 120 aircraft, leasing them to over 30 of airlines around the world, according to Airfinance Journal’s [...]