BUZZ-Stan may be the man as EM sentiment turns
As the idea of picking up bargains among EM-exposed stocks gathers steam, Standard Chartered (HKSE: 2888.HK - news) could find itself in the sweet spot.
** Stock up 13 pct since hitting nearly 2-yr low on March 20 on rising volumes as shorts cover.
** Trades at smallest premium on P/B to UK banks since the 2008 financial crisis. http://link.reuters.com/kyf48v
** Still a big underperformer vs the UK banking index.
** Shorts are covering, with utilization ratio falling by a fifth to 4 pct over the last week according to Markit.
** BofA-ML sales desk and Investec (4-star ranked analyst on StarMine) pushing stock on valuations.
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