Standard Chartered

Ticker STAN

Today's data summary

Market closed
% change
+0.50%
Price Pence
648.00
Change
+3.20
As of 22:18 20 Aug 2018
Market cap. Pound sterling
21,411.74 million
As of 22:18 20 Aug 2018

Latest updates

Standard Chartered avoids trade row fall-out

US-China trade war: Why you should care

Standard Chartered does not expect the trade row between the US and China to have much impact on the Asia-facing bank...for now.

Announcing its interim results, Standard Chartered's chief executive Bill Winters said: "Our direct exposure to increasing tariffs between the US and China is minimal, less than 1% of income.

"It's not a disastrous thing for Standard Chartered ... but if the trade war escalates it could be more disruptive for the global economy and our clients."

Centrica leads FTSE 100 fallers

British Gas
Reuters

British Gas-owner Centrica is the biggest faller on the FTSE 100 this morning - down 4.8% to 145.3p after it said it lost more customer accounts in the first half of the year.

It was followed by banking group Standard Chartered whose share price fell 3.5% to 672.1p despite reporting a rise in interim profits.

IAG, which owns British Airways, is leading the risers, up 1.9% at 707.3p followed by BP which cheered its investors with the first rise in its dividend since 2014.

Its share price is ahead 1.1% at 572p.

The wider FTSE 100 is up 5.52 points at 7,706.37.

Standard Chartered profits grow

Standard Chartered
Getty Images

Pre-tax profits at Standard Chartered rose by 34% to $2.3bn in the six months to June.

Chief executive Bill Winters, says that the bank "performed steadily in the first half".

Good morning!

Welcome to Business Live and a very busy day for company results.

Energy giants BP and British Gas-owner Centrica are reporting their financials this morning - Centrica's boss Iain Conn is on Radio 4's Today programme at around 7.15am.

Mining and commodities groups Glencore and Fresnillo will also reveal their latest figures.

Housebuilder Taylor Wimpey and building supplies firm Travis Perkins will give snapshots of the property market while holiday group Thomas Cook and baker Greggs will also publish updates.

We’ll also get the first results from the banking groups, in this case Standard Chartered. Barclays, Lloyds and RBS report later this week.

As always, we'd love to hear from you. Email us at bizlivepage@bbc.co.uk

Standard Chartered's head of compliance quits

Standard Chartered's head of compliance Neil Barry has resigned with immediate effect, the Financial Times reports, after the bank found his "managerial style, behaviour and language towards some of his colleagues was inappropriate and not in line with our valued behaviours, although it fell short of warranting his dismissal".

According to the paper, Standard Chartered said Mr Barry had "expressed his regret if any of his interactions with his colleagues cause upset or offence - that was never his intention".

Light emerges for banking sector

Today Programme

BBC Radio 4

Barclays
Getty Images

Now that the pressures of the financial crisis seem to have abated, banks are taking stock, says Supriya Menon, senior multi-asset strategist at Pictet Asset Management, which may explain why the reports of a Barclays-Standard Chartered tie-up have emerged.

Ms Menon says that Pictet is "positive" on financial stocks as a whole. "So globally over time we expect bond yields to go higher, we expect that their net interest margins will improve as a result, [there will be] better lending volumes even in places like Italy.

"And in the US in particular, we'd be positive, mainly because regulatory constraints are easing, so we should see a boost to lending."

Barclays and StanChart: Just a fairytale?

Simon Jack

BBC Business Editor

Barclays
Getty Images

The marriage of Barclays and Standard Chartered is many ways a tantalising prospect.

Take the new transatlantic Barclays, with a big US and European investment banking business, and a very profitable UK retail and credit card business, and bolt it on to Standard Chartered's Asian, African and Middle East trade expertise.

Not only that, but Standard Chartered's big Asian deposit base would be a source of cheap capital for Barclays investment bank. Voila - an all-singing, all-dancing bank with a truly global footprint.

Read Simon's full blog here.