Research, Charts & Company Announcements
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|12/10/2016 10:15:02||London Stock Exchange||Publication of a Prospectus|
|06/10/2016 14:25:23||London Stock Exchange||Total Voting Rights|
|28/09/2016 11:55:01||London Stock Exchange||Director/PDMR Shareholding|
|23/09/2016 10:39:46||London Stock Exchange||Director/PDMR Shareholding|
|15/09/2016 14:40:11||London Stock Exchange||Overseas Regulatory Announcement|
|07/09/2016 17:10:29||London Stock Exchange||Total Voting Rights|
|07/09/2016 13:25:40||London Stock Exchange||Director/PDMR Shareholding|
Frequency of research reports
Research reports on STANDARD CHARTERED PLC
Providers covering STANDARD CHARTERED PLC
Income trajectory seen as a primary challenge
08 Mar 16
The second-half results were hit by significant restructuring charges largely driven by asset impairments aimed at accelerating the balance-sheet de-risking. However, the group managed to raise its capital position in line with its mid-term objective thanks to the capital increase, the lack of final dividend payment and the fact that some of the charges were already factored in regulatory equity. Management believes that the group is comfortably capitalised and funded to withstand current headwinds. To it, the major issue relies in reversing the negative income trajectory.
20 Oct 15
STAN will release its third quarter results on 3 November. We have adjusted our forecasts in order to capture the deteriorating economic perspectives in the group’s major markets. We have adopted a new SOTP approach to assess better the sensitivity of the valuation to the deterioration in asset quality.
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Highly concentrated portfolio, strong performance
26 Oct 16
Finsbury Growth & Income Trust (FGT) aims to generate long-term growth in capital and income from a concentrated portfolio of primarily UK equities, which are held for the long term. FGT is benchmarked against the FTSE All-Share index, but is not constrained by its composition; c 70% of the portfolio is invested in consumer stocks. The trust has a progressive dividend policy and annual dividends have compounded by 6.9% pa since FY11; the current dividend yield is 2.0%. FGT has outperformed its peers and the benchmark over one, three, five and 10 years. Strong investor demand along with capital appreciation means the size of the trust has grown significantly; assets under management now approach £1bn.
21 Oct 16
STM* (STM): Acquisition of London & Colonial (CORP) | Hurricane Energy (HUR): £70m placing and open offer (BUY) | Firestone Diamonds* (FDI): Liqhobong commissioning update (BUY) | Accsys (AXS): Acorn aiming to be a mighty oak – analyst interview (BUY) | Avacta* (AVCT): Act now… – analyst interview (CORP) | Tristel* (TSTL): Full year 2016 results – analyst interview (CORP)
Acquisition of London & Colonial
21 Oct 16
The acquisition of LCH for up to £5.4m adds a SIPP offer to STM’s portfolio as well as strengthening the group's Life and QROPS books. Employing cash, debt and an element of deferred purchase terms makes the deal usefully earnings-enhancing, adding £0.5m to 2017 estimates. Forecast EPS of 5.9p for 2017 places the shares on a PE multiple of 8.0x, while retaining net cash on the balance sheet leaves the group well positioned to maintain its commitment to a progressive dividend policy.
UK Housebuilding Sector: Q3 2016 - “I am Steve McQueen”
11 Oct 16
Steve was street savvy, but he was not the smartest knife in the drawer, which makes his Delphic comment to Robert Vaughn all the more surprising. What Steve was saying is that “it’s not over yet”; that there is still a lot more to come (sadly for McQueen, who died in 1980 aged 50, it was a future that was not his). The same is true of Brexit and the collateral undulations that it has riven in the UK Housebuilding Sector. Immediately post-the-Brexit-vote, the UK Housebuilding Sector tanked 36% in value in two trading days (24 and 27 June with a weekend in between); and at one stage was off almost 40%.
N+1 Singer - Morning Song 21-10-2016
21 Oct 16
Xaar has announced that its FD, Alex Bevis, will be leaving to pursue other opportunities after almost 6 years with the group. A search is underway for his replacement and Alex will remain with Xaar until 24th March 2017. While Alex’s departure is disappointing, Xaar’s strategy remains on track, with new product launches expected to drive near term organic sales growth and a target of £220m sales by 2020. This reflects stronger leverage of Xaar’s innovative technology into a broader spread of end products and markets, with the £220m expected to be composed of broadly equal contributions from ceramics, packaging & product printing, Thin film/P4, and partnerships/M&A. Prospects for the group are exciting, with positive news flow on product launches and end markets anticipated over the year ahead.