FTSE 100 Closes Up 0.3%, Standard Chartered Outperforms on Buyback
The FTSE 100 index closed Friday up 0.3% at 7706 points lifted by banks after Standard Chartered's earnings and despite a fall in oil-exposed stocks and miners. Shares of the Asian-focused bank led the index's top risers, up 4.85%, after launching a new share buyback and beating profit expectations, followed by Rightmove and the pharmaceutical heavyweight Astrazeneca, up 1.85% and 1.8% respectively. On the other side of the table, St. James's Place shares closed down 3%, followed by Admiral Group and Schroders, down 1.4% and 1.3%, respectively.
COMPANIES NEWS:
Standard Chartered Unveils New Buyback, Guides for Growth -- Update
Standard Chartered PLC unveiled a $1 billion buyback and forecast higher income this year, after it posted a quarterly earnings beat on the back of topline growth, lower impairments and the sale of its aviation finance business.
---
Volvo Car to Give Shareholders $919 Mln in Polestar Stock as It Pares Down Stake
STOCKHOLM--Volvo Car will give Polestar shares worth around 9.5 billion Swedish kronor ($919.4 million) to its shareholders as it pares down its stake and follows through on a pledge to stop funding the electric car maker.
---
STM Group Expects Higher Revenue on Better-Than-Expected Interest Income
STM Group expects to report revenue ahead of views with in-line overall performance for 2023 as its takeover by Jambo progresses.
---
Chemring Group Expectations Unchanged Despite Bad Weather Delaying Orders
Chemring Group said expectations for the fiscal year remain unchanged despite bad weather hurting operations at its manufacturing sites and causing delays to some deliveries scheduled for the first quarter.
---
Coca-Cola Europacific Profit, Revenue Rises Despite Soft Demand in Asia-Pacific
Coca-Cola Europacific Partners said its pretax profit and revenue rose last year due to strong performance in Europe offsetting Asia-Pacific weakness.
Contact: London NewsPlus, Dow Jones Newswires;
(END) Dow Jones Newswires
February 23, 2024 12:06 ET (17:06 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What History Tells Us About the Fed’s Next Move
-
What’s Happening In the Markets This Week
-
Alphabet’s New Dividend: What Investors Need to Know
-
Going Into Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
Going Into Earnings, Is Eli Lilly Stock a Buy, a Sell, or Fairly Valued?
-
What’s the Difference Between the CPI and PCE Indexes?
-
5 Stocks to Buy That We Still Like After They’ve Run Up
-
Markets Brief: Stocks Are Starting to Look Cheap Again
-
AbbVie Earnings: Next-Generation Immunology Drugs Help Offset Humira Biosimilar Pressure
-
Exxon Earnings: Ignore Earnings Shortfall as Long-Term Growth and Improvement on Track
-
American Airlines Earnings: We See Costs Overshadowing Market Share This Year
-
Snap Earnings: Advertising Growth and Snapchat+ Drive Monetization
-
STMicro Earnings: We Still See an Attractive Margin of Safety Despite a Poor First-Half Forecast
-
Alphabet Shares Surge on Strong Earnings, Dividend Surprise
-
Microsoft Earnings: Firm Beats Forecasts on Strong AI and Cloud Demand
-
PG&E Earnings: Near-Term Regulatory Certainty Supports Industry-Leading Earnings Growth