Standard Chartered Share Discussion Threads

[buywell2] 23/7/2014 06:39

Trouble in ASIA going to hurt STAN

Other banks too

[hvs] 15/7/2014 15:20

Where is my metal.

Looks like it does not exist. Not in China anyway.

What a bunch of numties here.

Yet another hit coming. Its BONUS time , not forgetting the proverbial PENSION TOP UP and FREE share issue.

When will they ever learn ?

[jonojubb] 15/7/2014 10:30

I agree, looks hopeful that 1200 is a good buy in price. I think I will consider topping up at the year low areas - all the negative talk about £10 is too negative I feel.

[betman] 14/7/2014 17:20

If we are lucky this has formed a major double bottom around 1200p and that would be a bullish signal for me. I have seen broker targets at 1450p which would be very tasty but doubtful until there is a clear trend of rising revenues and profits again, could be 2-3 year horizon ?
I am happy to buy at these levels as I believe in 2/3 years it will look a cheap price
Any other views ?

[tweeeek] 27/6/2014 14:04

£10 hvs, you're optimisitc, thought someone like you might tout £6.

[hvs] 27/6/2014 13:03

NOT LOOKING GOOD.

£ 10

[kiwi2007] 27/6/2014 00:28

If there was a serious (i.e. Barclay type) problem (or the market suspected there was) then STAB and STAC, the pref shares, ought to have fallen. So far they haven't.In fact, as STAN itself has fallen recently, they've risen.

[kiwi2007] 27/6/2014 00:22

Chirantan Barua, an analyst at Bernsteinm said: "Cyclical headwinds are yet to arrive in full force in the bank's two key markets - Hong Kong and Singapore. Not that Korea or India is out of the woods either.

"Pack that in with a challenging and uncertain capital regime that won't be resolved until the end of the year and you have a great deal of uncertainty around the stock."......



Equities research analysts at Nomura lowered their target price on shares of Standard Chartered PLC (LON:STAN) from GBX 1,610 ($27.40) to GBX 1,580 ($26.89) in a research note issued to investors on Thursday. The firm currently has a "buy" rating on the stock. Nomura's price target suggests a potential upside of 24.90% from the stock's previous close.


hxxp://www.intercooleronline.com/stocks/standard-chartered-plc-price-target-cut-to-gbx-1580-stan/17238/

Sanford C. Bernstein reaffirmed their underperform rating on shares of Standard Chartered PLC (LON:STAN) in a report issued on Tuesday. They currently have a GBX 1,050 ($17.87) target price on the stock.

hxxp://www.watchlistnews.com/standard-chartered-plc-receives-underperform-rating-from-sanford-c-bernstein-stan-2/47867/

[philo124] 26/6/2014 17:07

Thanks all.

[norbert colon] 26/6/2014 15:43

I cannot confirm 1st hand but I have heard from someone I know that the company has some ugly issues lurking in the background (nothing unusual for banks nowadays) but I could not get any details and can only speculate that they have some nasty financial exposures or compliance issues that are going to surface at some point. It was enough for me to sell a few weeks back at 1340p and I am glad that I did.

[kiwi2007] 26/6/2014 12:00

speculation that rivals ranging from JPMorgan to Barclays could bid.

[libertine] 26/6/2014 11:10

At present levels, Standard's shares trade at a forward P/E of 10.3, which appears cheap when compared to the wider banking sector average of 25. What's more, Standard currently offers a 4.2% dividend yield, once again above the market average.

[revell40] 26/6/2014 11:08

Hope so hvs

[hvs] 26/6/2014 10:57

I see £ 10 here.

Way way overvalued.

[tweeeek] 26/6/2014 10:37

Quite a bumpy ride this one today, over reaction.

[revell40] 26/6/2014 10:34

Long term down more yet I think

[zulu001] 26/6/2014 10:29

Really? I suppose its near support on a long term view.

[stevenrevell] 26/6/2014 10:11

Looking good to buy now

[unastubbs] 26/6/2014 10:03

very ugly

Standard Chartered PLC along with its subsidiaries, (the "Group") will be holding discussions with analysts and investors ahead of its close period for the half year ending 30 June 2014. This statement details the information that will be covered in those discussions.

Peter Sands, Group Chief Executive, commented, "This has been a disappointing first half, with difficult trading conditions, particularly in financial markets. We are making good progress against our refreshed strategy and are taking the right actions in response to a challenging environment - managing costs very tightly, disposing of non-core businesses and optimising the deployment of capital. As we navigate this difficult period, we remain focused on the drivers of value creation for our shareholders, continuing to build our franchise to make the most of the enormous opportunities in our markets."

Unless otherwise stated all comparisons exclude the impact of the UK Bank Levy, Own Credit Adjustment and impairment of goodwill in respect of Korea.

In January, the Group announced a change to its organisation structure effective 1 April 2014. This trading statement provides an update of our financial performance by product and geography. A full set of disclosure reflecting the new structure will be provided in the Group's Half Year results in August 2014.

Group

The momentum of most of the Group's businesses remains in line with expectations. The primary exception is Financial Markets which continues to be impacted by the challenging external environment, alongside the rest of the industry.

Whilst expectations for the Group's first half performance remain ahead of the second half of last year, Group income in the first half of 2014 is expected to be down by a mid single digit percentage on the first half of 2013, or by a low single digit percentage on a constant currency basis.

Markets such as China and Africa continue to grow income well, offset by weaker performance in markets such as India, Korea and Singapore.

Costs remain well controlled and are expected to be only slightly higher than in the same period last year despite continued investment, increases in regulatory and compliance costs and salary and other inflation across our footprint.

Loan impairment is expected to be up by a high-teens percentage in the first half of 2014 in line with expectations. Asset quality remains good and, in line with previous guidance, we remain watchful in India and of commodity exposures.

Other impairment includes some US$75 million in relation to valuation impairment of certain strategic investments.

As a result of these dynamics, the Group's operating profit in the period, whilst up on the second half of 2013, is now expected to be down by around 20 per cent on a strong first half of the same year.

We continue to see growth in customer loans and advances, up by a low single digit percentage on the 2013 year end position. Balance sheet growth has been muted by property cooling measures across several Asian markets, assertive management of Risk Weighted Assets (RWA) generating low returns and continued de-risking of unsecured products in the Retail Clients segment. Customer deposits were broadly flat on the year end position.

Group RWA, on a Basel 3 basis, are expected to have grown by a mid single digit percentage since the start of the year. This is largely the result of the expected introduction of regulatory changes to risk models, in particular the change to Exposure At Default (EAD) calculations, and credit migration. Underlying RWA growth is expected to be largely offset by very good progress on RWA management initiatives.

Our balance sheet remains in excellent shape, highly liquid, well diversified and strongly capitalised.

Income by product

Transaction Banking income is expected to be down by a low single digit percentage. While margins remain lower than a year ago, Trade margins have shown improvement during 2014 and Cash margins are stable at year end levels. Average Trade balances, whilst up on the same period last year, are down year to date as a result of management action to optimise returns. Average Cash balances are also up on a year ago, yet flat year to date.

Financial Markets income remains the main challenge across the Group and is expected to be down by around 20 percent. Across the industry, a number of regulatory and structural changes, combined with cyclical factors, have dampened volatility, put pressure on spreads and led to softer volumes, particularly impacting Rates and Foreign Exchange. Own Account income has seen a strong reduction, whilst Client Income, which represents nearly 90 per cent of the total, has fallen by about half the rate of overall Financial Markets income. We have seen weakness in Rates, with declines in both volumes and spreads, and in Foreign Exchange, where good volume growth has been more than offset by spread compression.

Corporate Finance income is expected to be broadly flat on the same period last year. Political uncertainty in a number of markets has resulted in some delays in deal execution, but the transaction pipeline remains good.

Wealth Management is expected to be up by a mid single digit percentage with broad based growth by product, particularly in Bancassurance.

Income across Retail Products is expected to be down by a mid single digit percentage year on year, impacted by the continued de-risking of our unsecured portfolio, higher levels of competition for deposits and property cooling measures in a number of our markets.

Asset and Liability Management (ALM) income has benefitted from better accrual income and is expected to be up strongly.

Principal Finance income is expected to be down by over 10 percent on the first half of 2013, driven primarily by timing of realisations.

Conclusion

Notwithstanding the performance of the Group in the first half, our franchise remains strong, with deep client relationships and market share gains in selected areas. We are maintaining tight control of costs and risk and have a highly liquid, diverse and well capitalised balance sheet.

Looking forward, Transaction Banking has momentum, Wealth Management will benefit from the recently signed Prudential PLC Bancassurance agreement, and Corporate Finance has a good pipeline. However the outlook for Financial Markets remains somewhat uncertain. Given these dynamics, our expectation is that full year profits, excluding goodwill impairment and Own Credit Adjustment, but including the UK Bank Levy, will be down on 2013. However, profits in the second half are likely to be higher than in the same period last year.

We are responding to near term challenges and we remain confident in the strong underlying potential of our markets and of our competitive positioning, banking the people and companies driving investment, trade and the creation of wealth across Asia, Africa and the Middle East.

We will provide a further update when we release the Group's Half Year results on 6 August.

[unastubbs] 26/6/2014 08:12

tried to have a look but that show is an hour and half long...what time do they talk about STAN.L?

[tiptv1] 25/6/2014 13:51

Darren Sinden from Trader Titan Investment Partners discusses Standard Chartered (STAN) on Tip TV. Watch :

[unastubbs] 21/6/2014 13:24

pre-close period interim statement coming thursday 9.15 uk time

[keith95] 21/6/2014 12:52

Dipped at £12.70 - next buy at £12.00 or lower I guess.