STAN.L - Standard Chartered PLC

LSE - LSE Delayed price. Currency in GBp
696.60
-1.00 (-0.14%)
At close: 4:35PM GMT
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Previous close697.60
Open699.80
Bid684.00 x 0
Ask735.00 x 0
Day's range693.40 - 702.60
52-week range573.80 - 742.60
Volume5,209,581
Avg. volume7,716,535
Market cap22.265B
Beta (3Y monthly)1.47
PE ratio (TTM)38.27
EPS (TTM)18.20
Earnings date29 Jul 2019 - 2 Aug 2019
Forward dividend & yield0.17 (2.45%)
Ex-dividend date2019-08-08
1y target est8.78
  • Emerging-Market Local-Currency Bonds Look 'Quite Compelling'; StanChart
    Bloomberg

    Emerging-Market Local-Currency Bonds Look 'Quite Compelling'; StanChart

    Nov.19 -- Manpreet Gill, head of fixed income, currency and commodities strategy at Standard Chartered Private Bank, talks about the yen, Federal Reserve policy and U.S. Treasury yield curve. He also discusses the pond, the dollar, and emerging-market bonds. He speaks with Juliette Saly and Rishaad Salamat on "Bloomberg Markets: Asia."

  • Reuters - UK Focus

    UPDATE 1-Company logos vanish from Prince Andrew's website as sex scandal grows

    A scheme for entrepreneurs founded by Prince Andrew has taken down the logos of its corporate sponsors from its website, as firms and charities distance themselves from the British royal over a sex scandal. Andrew, Queen Elizabeth's second son, denies an allegation that he had sex with a 17-year-old girl procured for him by his friend Jeffrey Epstein, who killed himself in a U.S. prison in August while awaiting trial on sex trafficking charges. The scandal has escalated since Andrew's rambling denials and explanations in a disastrous TV interview aired on Saturday left many viewers incredulous, and his apparent lack of compassion for Epstein's victims drew widespread condemnation.

  • Dollar Roadblock From Fed’s Balance Sheet Sets Up Euro Rally
    Bloomberg

    Dollar Roadblock From Fed’s Balance Sheet Sets Up Euro Rally

    (Bloomberg) -- It doesn’t look good for the dollar. Morgan Stanley sees a glut looming, while Standard Chartered Plc says the growing U.S. monetary base will undercut the greenback.There’s a rising tide of supply as the Federal Reserve pumps dollars into bank-funding markets in the wake of September’s upheaval. That has the potential to dent the yield advantage that U.S. markets offer just as a change of management at the European Central Bank could draw a line under monetary easing in the euro’s home region.“So far, the Fed’s liquidity-add has been absorbed by commercial banks’ year-end-related liquidity demand,” say Morgan Stanley strategists including Hans Redeker. “Once the year-end turn has passed, dollar scarcity may turn into a dollar glut.”That, coupled with stronger global growth outside of the U.S. and dwindling portfolio inflows, makes a decline in the value of the dollar one of Morgan Stanley’s top trends to watch next year. While the world’s gross domestic product growth may slow to 3.1% this year, that’s around a percentage point higher than the U.S., according to estimates compiled by Bloomberg.Research from Standard Chartered analysts including Steve Englander shows that since 2011, a rapidly growing U.S. monetary base has been a good indicator of euro strength.Meanwhile, the uncertainty posed by a public impeachment inquiry into U.S. President Donald Trump’s actions involving Ukraine and the 2020 American elections could hurt the dollar’s appeal, which may dim relative to the euro. The White House’s criticism of the Fed’s monetary policy returned to the fore in Washington, when Trump said he “protested” to Chairman Jerome Powell about interest rates, which the president considers to be too high relative to other developed countries. The shared currency held steady at $1.1070 Tuesday, after Monday’s gain of 0.2% trimmed its 2019 decline to 3.5%.Credit Agricole SA says the worst may be over for the euro-dollar cross because the economic downturn in the euro area may have bottomed out. Morgan Stanley sees the euro rallying in the first quarter because of “narrowing U.S.-Europe growth differentials” and improving political factors, while Deutsche Bank AG’s euro-area data-surprise indicator turned positive for the first time in 20 months.That makes euro-area purchasing managers’ indexes due Friday all the more important. A confirmation that the region’s economies aren’t as pressured as previously feared could boost the common currency.The caveat that most analysts point to is potential progress in trade talks between the U.S. and China. If there’s no deal, and more tariffs are imposed, then the dollar could win out and risks to global economic growth may ramp up.Questions over possible fiscal stimulus from Germany and uncertainty over the ECB’s path are also wild cards for the euro. Growth that continues to muddle along risks keeping calls for a fiscal boost in check and ECB accommodation in limbo, sapping support for the currency.“With the ECB racked by internal disagreement on monetary policy as the Christine Lagarde era commences, policy in the euro zone is as stalled and unclear as ever,” according to John Velis, a foreign exchange and macro strategist at Bank of New York Mellon Corp.(Adds detail on Trump’s meeting with Powell in sixth paragraph, updates euro price)\--With assistance from Alyce Andres.To contact the reporter on this story: Michael Hunter in London at mhunter72@bloomberg.netTo contact the editors responsible for this story: Dana El Baltaji at delbaltaji@bloomberg.net, Benjamin Purvis, Anil VarmaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Bloomberg

    Aramco Failure to Win Foreign Money Makes IPO Local Event

    (Bloomberg) -- Two years ago, when the initial public offering of Saudi oil giant Aramco held the imagination of foreign investors, President Donald Trump felt compelled to publicly lobby for the share sale to happen in America.“Would very much appreciate Saudi Arabia doing their IPO of Aramco with the New York Stock Exchange,” Trump tweeted in November 2017.Today Saudi Aramco isn’t just shunning New York -- and other international exchanges -- as a listing venue, but has decided it won’t even market the IPO to American, Canadian, European or Japanese investors. Instead, Aramco plans to rely heavily on ultra-wealthy Saudis, many of whom have been pressed to invest, to get the deal done. Saudi banks are loosening lending regulations to allow locals to buy more shares.The IPO once was promoted as the strongest sign of economic change in Saudi Arabia: the deal that was going to attract tens of billions of foreign capital into the kingdom. Instead, a slimmed down share sale is starting to look more like a levy on the country’s economy as Saudi investors, large and small, take the place of foreign money managers.It may well still be the world’s largest IPO, perhaps raising about $25 billion and valuing the company at $1.6 trillion to $1.7 trillion, well above the biggest names of Silicon Valley. But that’s short of the $100 billion that Saudi Crown Prince Mohammed bin Salman said he was hoping to raise when he first mooted the IPO in 2016. At that point, he targeted a valuation of at least $2 trillion.“Saudi Arabia has been moving the IPO toward becoming more focused on regional investors for a while,” Ayham Kamel, Middle East practice head at consultant Eurasia Group. “Western demand was going to be lukewarm given the valuation and the geopolitical risk.”So poor is the international appetite for the deal, even at the lower valuation, Saudi Aramco decided at the last minute against marketing the IPO in the U.S., Canada and Japan -- three markets traditionally seen as a must-go destination for any big Wall Street deal. Instead of the planned approach to American investors, using what lawyers and bankers know as the 144A rule of the U.S. Securities Act, Aramco decided on Sunday the tepid interest meant it wasn’t worth the trouble.The array of Wall Street banks, including Goldman Sachs Group Inc, Morgan Stanley and JPMorgan Chase & Co, with mandates to sell the stock to international investors, were taken aback by the sudden decision, according to people familiar with the matter, who asked not to be named discussing private conversations.Skipping the U.S. means saying goodbye to powerful American pension funds with billions of dollars managed from cities like Boston and Los Angeles.On Monday, Aramco’s banks told investors in London and other European cities that roadshow events planned for this week had been canceled.In a sign of Aramco’s shifting ambitions, the company published an English version of the updated prospectus more than 24 hours after the Arabic version posted the target price range early on Sunday.“The valuation range is higher than most institutional investors would consider attractive,” said Neil Beveridge, analyst at Sanford C. Bernstein & Co. “Aramco’s price range would imply a premium valuation to western oil majors on almost every valuation metric.”The new valuation implies Aramco, which has promised a dividend of at least $75 billion next year, will reward investors with a dividend yield of between 4.4% and 4.7%, below what other oil majors pay. Exxon Mobil Corp. pays a dividend yield of just under 5%, while Royal Dutch Shell Plc pays 6.4%.The difference between local and foreign investors is that Prince Mohammed, the country’s day-to-day ruler, has leverage at home. Overseas, he has almost none.Many of the rich Saudi families that will now become key investors in Aramco learned the ruthlessness of Prince Mohammed during the crackdown that saw many arrested in the Ritz Carlton hotel in Riyadh in 2017. Prince Mohammed also controls the local banking industry, which will lend billions of dollars to Saudi retail investors to buy shares.Despite the tepid interest overseas, the 34-year-old Prince Mohammed is all but sure to get the job done -- even if the result falls short of his original ambitions. As well as a lower valuation between $1.6 and $1.7 trillion, it won’t be the 5% of company’s capital he envisioned. Instead just 1.5% will be offered.The combination of a lower valuation and a smaller stake means that there will almost certainly be enough Saudi money to buy the shares – and perhaps guarantee reasonable post-IPO trading -- but the sale will be a long way from the seismic global financial event Prince Mohammed touted in back in 2016.(Adds publication of Aramco prospectus.)\--With assistance from Dinesh Nair, Jack Farchy, Matthew Martin, Archana Narayanan and Swetha Gopinath.To contact the reporter on this story: Javier Blas in London at jblas3@bloomberg.netTo contact the editors responsible for this story: Will Kennedy at wkennedy3@bloomberg.net, Amanda JordanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • UK lawmaker blames HSBC, Standard Chartered, Bank of Baroda in South Africa corruption
    Reuters

    UK lawmaker blames HSBC, Standard Chartered, Bank of Baroda in South Africa corruption

    Corruption under South Africa's former president Jacob Zuma was enabled by international banks, companies and governments which should now seek to recover the loot they helped to launder, British lawmaker Peter Hain told an inquiry on Monday. HSBC, Standard Chartered and India's Bank of Baroda as well as their senior directors were "directly culpable" in the looting of South Africa's treasury under Zuma, Hain said in his submission to the Judicial Commission of Inquiry into Allegations of State Capture.

  • Reuters - UK Focus

    UPDATE 2-UK lawmaker blames HSBC, Stanchart, Baroda in S.Africa corruption

    Corruption under South Africa's former president Jacob Zuma was enabled by international banks, companies and governments which should now seek to recover the loot they helped to launder, British lawmaker Peter Hain told an inquiry on Monday. HSBC, Standard Chartered and India's Bank of Baroda as well as their senior directors were "directly culpable" in the looting of South Africa's treasury under Zuma, Hain said in his submission to the Judicial Commission of Inquiry into Allegations of State Capture.

  • Reuters - UK Focus

    UPDATE 2-SMFG's chances of buying Permata improve after Singapore banks drop out-sources

    Sumitomo Mitsui Financial Group's (SMFG) chances of snapping up Indonesia's PT Bank Permata have improved after two key rivals dropped out of the race to buy the $2.4 billion-valued lender, sources said on Friday. One of the sources said SMFG was in advanced talks to negotiate terms for the purchase of the mid-sized bank, in which Standard Chartered and Indonesian conglomerate PT Astra International each own a 45% stake.

  • Reuters - UK Focus

    Japan's SMFG boosted after two rivals drop out from Bank Permata bidding-sources

    Sumitomo Mitsui Financial Group's (SMFG) chances of acquiring a majority stake in PT Bank Permata have improved after two key rivals dropped out of the race to buy the $2.4 billion-valued Indonesian lender, sources said. While Singapore lender OCBC Group Holdings and DBS Group Holdings Ltd had shown interest in the auction for mid-sized Permata, they are no longer pursing it, the sources, who declined to be named because they were not authorised to talk to the media, said. Reuters reported last week that SMFG and OCBC were working on competing offers and were seen as the frontrunners for Permata.

  • Reuters - UK Focus

    REFILE-HSBC, Emirates NBD cut jobs in UAE as banks look to reduce costs-sources

    DUBAI/ABU DHABI, Nov 14 (Reuters) - HSBC Holdings has laid off about 40 bankers in the United Arab Emirates (UAE) and Emirates NBD is cutting around 100 jobs, as banks in the Arab world's second-biggest economy reduce costs, sources familiar with the move told Reuters. The job cuts come at a time of weak economic growth, especially in the region's business hub - Dubai - which is suffering from a property downturn. HSBC's redundancies came after the London-based bank reported a sharp fall in earnings and warned of a costly restructuring, as interim Chief Executive Noel Quinn seeks to tackle its problems head-on in his bid for the full-time role.

  • Forget Bitcoin. I’d buy these 2 bargain FTSE 100 shares to make a million
    Fool.co.uk

    Forget Bitcoin. I’d buy these 2 bargain FTSE 100 shares to make a million

    I think these two FTSE 100 (INDEXFTSE:UKX) stocks could offer a superior risk/reward ratio compared to Bitcoin.

  • Reuters - UK Focus

    UPDATE 2-Trade woes, HK unrest knock European shares off 4-yr peak; Spain lags

    European shares retreated from four-year highs on Wednesday, as ambiguity over a U.S.-China trade deal and intensifying unrest in Hong Kong kept investors at bay, while Spanish stocks underperformed as Rome braced for more political uncertainty. The pan-European STOXX 600 index fell 0.2% with trade-sensitive autos and miners hurt as a much awaited speech by U.S. President Donald Trump gave scant clues on the progress of a trade deal with China.

  • Reuters - UK Focus

    GLOBAL MARKETS-Stocks, dollar rise as Trump says trade deal is near

    Global equity markets and the dollar rose on Tuesday as U.S. President Donald Trump reiterated the United States is close to signing a trade deal with China but offered no new details. Stocks on Wall Street set fresh record highs before Trump's highly anticipated remarks to the Economic Club of New York, but slowly pared some gains after the speech, which contained no major policy announcements. Trump touted his administration's economic record in a campaign-style speech but did not announce a venue or date for signing a trade deal with Chinese President Xi Jinping as market speculation had suggested he might.

  • Reuters - UK Focus

    GLOBAL MARKETS-Stocks climb as investors hope Trump delivers on trade

    Equity markets and government bond yields rose on Tuesday as investors awaited a speech by U.S. President Donald Trump on U.S. trade policy, in which he is expected to discuss talks with China and a tariff decision on European automakers. First, that there would be reassurances the China talks were progressing and second, that there would be a nod to overnight reports that a decision on European car tariffs would be delayed another six months. Overnight in Asia, MSCI's broadest measure of Asia-Pacific shares outside Japan climbed 0.5% while Japan's Nikkei ended 0.8% higher.

  • Reuters - UK Focus

    GLOBAL MARKETS-Stocks climb, investors seek enlightenment from Trump on trade

    World shares and benchmark government bond yields inched higher on Tuesday, as investors awaited a speech by U.S. President Donald Trump on U.S. trade policy and an inevitable maelstrom of headlines. Firstly, that there would be reassurances that China talks were progressing, and secondly, that there would be a nod to overnight reports that a decision on European car tariffs would be delayed for another 6 months. Trade-sensitive chipmakers helped pushed Europe's STOXX 600 up 0.4% and U.S counterparts including Micron Technology, Nvidia and NXP rose between 0.6% and 0.9% in premarket New York trading.

  • Reuters - UK Focus

    UPDATE 2-Defensive stocks help European shares end flat, London lags

    Demand for defensive stocks helped European shares recover from early losses on Monday as investors grappled with issues ranging from violent Hong Kong protests to an inconclusive Spanish election and weak data from China. After falling nearly 0.5% at one point, the pan-European STOXX 600 index closed flat, helped by a turnaround in bank shares and gains for sectors considered safer bets during times of economic uncertainty, such as food and beverage and real estate. London's FTSE 100 led declines among the major regional indexes with a 0.4% drop, while stocks in Frankfurt fell 0.2% and Paris rose 0.1%.

  • Rupee Declines Most in Asia as Moody’s Cuts India Rating Outlook
    Bloomberg

    Rupee Declines Most in Asia as Moody’s Cuts India Rating Outlook

    (Bloomberg) -- India’s rupee declined the most in Asia and sovereign bonds dropped after Moody’s Investors Services lowered the nation’s rating outlook to negative citing growth concerns.The reduction comes at a time when investors have been skeptical about the government meeting its budget targets amid a slowdown in tax revenues and September’s surprise $20 billion tax giveaway for companies.The rupee fell as much as 0.5% to the weakest in three weeks and stocks gave up their early resilience to Moody’s warning in the red in the final hour of the session, thanks to profit-booking after the benchmark index’s recent record closing spree.A change in the rating outlook is the first step toward a downgrade, the action is no reason to exit the nation’s assets, economists and analysts said. Moody’s confirmed what is well known in the markets, and investors saw the move as a catch up, rather than a warning on the nation’s credit rating, as the agency rates India a notch higher than its peers Fitch Ratings and S&P Global Ratings.“Most participants were aware of the issues” cited by Moody’s, Kanika Pasricha, a Mumbai-based economist at Standard Chartered Plc, wrote in a research note. “Moody’s rates India one notch higher than Fitch and S&P, and the market probably saw this coming.”The yield on benchmark 10-year bonds rose five basis points, the most in a month, to 6.56%. The S&P BSE Sensex index of shares fell 0.8% at the close after rising as much as 0.2% earlier.“Investors have been aware of the decline in consumption and the economic slowdown cited by Moody’s for the past few quarters,” said Dharmesh Kant, head of research at Indianivesh Securities Ltd. “The rating processes are based on historic data, so it always comes with a lag, but the market is likely to take it in stride.”Indian assets have got a boost in recent weeks from strong overseas inflows. That’s after better-than-expected earnings in the September quarter stoked optimism that companies have weathered the worst of an economic slowdown following a series of government stimulus measures and five back-to-back rate cuts so far this year.Foreigners have bought stocks worth $501 million in November, after pumping in more than $2 billion in October, and have been buyers of sovereign debt for nine straight sessions.Going StrongThe Sensex still capped its fourth weekly gain in five as better-than-expected company earnings attracted investors. Twenty-six of the 41 Nifty 50 firms that have posted earnings so far this season have beaten or matched the average analyst estimate.“The index had climbed to a record high in the previous session and investors expected a small decline in stocks,” said Jitendra Panda, chief executive officer at Peerless Securities Ltd. “It is more of profit-booking rather than jitters due to the Moody’s.”Not everyone expects the change in outlook to raise overseas borrowing costs for local companies. Indian firms may raise another $20 billion via offshore debt in the six months through March after seeking $25 billion in the six months ended September, Care Ratings said in a note Thursday.“I don’t expect it to lead to any significant rise in borrowing costs as Moody’s is currently rating India a notch higher than Fitch Ratings and S&P Global Ratings,” which still hold the nation’s outlook at stable, said Ajeet Choudhary, executive director for fixed income at J.P. Morgan Private Bank in Asia. “I expect minor correction of 5-10bps in spreads for India IG papers.”\--With assistance from Rahul Satija, Abhishek Vishnoi, Manish Modi, Denise Wee, Ronojoy Mazumdar and Nupur Acharya.To contact the reporters on this story: Subhadip Sircar in Mumbai at ssircar3@bloomberg.net;Kartik Goyal in Mumbai at kgoyal@bloomberg.netTo contact the editors responsible for this story: Tan Hwee Ann at hatan@bloomberg.net, Ravil Shirodkar, Shikhar BalwaniFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Standard Chartered Slashes CEO Pension After Shareholder Row
    Bloomberg

    Standard Chartered Slashes CEO Pension After Shareholder Row

    (Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Standard Chartered Plc halved the pension money the bank hands to Chief Executive Officer Bill Winters after months of pressure from investors.The Asia-focused lender cut the retirement allowance for Winters and Chief Financial Officer Andy Halford from 20% of their annual salary to 10%, according to a statement Friday, putting the figure in line with benefits offered to other employees.More than a third of the London-based bank’s shareholders failed to support its pay policy at a vote in May. British firms are being pressed to make their pension policies more egalitarian, with the U.K. Corporate Governance Code recommending that awards for top employees stay close to those for rank-and-file staff.Most of the bank’s investors “wish to see the concerns of other shareholders in relation to pension allowances resolved,” while supporting the overall pay package for executive directors, the bank said.Winters’ pension allowance will fall 50% from 474,000 pounds ($607,336) a year to 237,000 pounds from the start of next year. Halford’s allowance will fall from 294,000 pounds to 147,000 pounds. The reduction will result in an 8% cut to the duo’s fixed pay.Standard Chartered said it had consulted with investors representing about 60% of its shares. “At these meetings, we listened to the range of views and concerns,” the bank said.The bank’s stock is down about 30% since Winters took over four years ago and began grappling with issues ranging from a bloated cost base to government probes. His efforts have helped the bank put the worst behind it, and its shares have rallied 20% in 2019.The rebound didn’t prevent Winters from being the target of a campaign by Glass, Lewis & Co., a proxy adviser that researches corporate governance and advises institutional investors how to vote. As the battle became more acrimonious, Winters called the criticism of his pension arrangements “immature and unhelpful.”Investors including Schroders Plc and Aberdeen Standard Investments, both among the bank’s 20 biggest shareholders, welcomed Standard Chartered’s announcement.“We are pleased that the company has listened to shareholders, and are very supportive of this move,” said Daniel Veazey, head of corporate governance analysts at Schroders.(Adds background and analyst reaction from 7th paragraph.)To contact the reporter on this story: Harry Wilson in London at hwilson57@bloomberg.netTo contact the editors responsible for this story: Ambereen Choudhury at achoudhury@bloomberg.net, Keith Campbell, Marion DakersFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • What to Watch: Markets cautious on trade deal, Bitcoin slides, British Airways-owner cuts growth forecast
    Yahoo Finance UK

    What to Watch: Markets cautious on trade deal, Bitcoin slides, British Airways-owner cuts growth forecast

    A daily overview of the top business, market, and economic stories to watch in the UK, Europe, and abroad.

  • Bank CEO takes pay cut after investor rebellion
    Yahoo Finance UK

    Bank CEO takes pay cut after investor rebellion

    Bill Winters, the CEO of Standard Chartered, is taking a £237,000 pay cut.

  • StanChart bows to investor ire by cutting pension of CEO Winters
    Reuters

    StanChart bows to investor ire by cutting pension of CEO Winters

    Standard Chartered joined some of its British rivals in cutting its chief executive's pension allowance on Friday after protests from shareholders, putting pressure on other banks such as Lloyds to follow suit. British banks have faced mounting criticism from investors for awarding their top executives more favourable pension arrangements than the rest of their employees. Standard Chartered said its CEO Bill Winters and Chief Financial Officer Andy Halford had agreed to have their pension allowances cut to 10% from 20% of their salary from January, putting them in line with the rest of its workforce in Britain.

  • Reuters - UK Focus

    UPDATE 2-StanChart bows to investor ire by cutting pension of CEO Winters

    Standard Chartered joined some of its British rivals in cutting its chief executive's pension allowance on Friday after protests from shareholders, putting pressure on other banks such as Lloyds to follow suit. Standard Chartered said its CEO Bill Winters and Chief Financial Officer Andy Halford had agreed to have their pension allowances cut to 10% from 20% of their salary from January, putting them in line with the rest of its workforce in Britain. The bank's definition of 'total salary' includes both base salary and a fixed pay allowance paid in shares.

  • Does Standard Chartered's (LON:STAN) Share Price Gain of 30% Match Its Business Performance?
    Simply Wall St.

    Does Standard Chartered's (LON:STAN) Share Price Gain of 30% Match Its Business Performance?

    If you want to compound wealth in the stock market, you can do so by buying an index fund. But one can do better than...

  • Reuters - UK Focus

    UPDATE 2-Japan's SMFG, Singapore's OCBC compete for majority stake in Indonesian bank -sources

    Sumitomo Mitsui Financial Group (SMFG) and Singapore lender OCBC Group Holdings are vying to buy Indonesia's PT Bank Permata and are working on respective offers, sources familiar with the matter said on Thursday. Japanese and other Asian banks are increasingly targeting a presence in Indonesia in the hope of tapping an emerging middle class in the country with a population of 260 million people.

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