-

FTSE Close: Standard Chartered soars as FTSE 100 finishes week mixed

London’s blue-chip stocks ended the week with a mixed bag, but Standard Chartered was the clear winner, surging almost 5% after strong earnings and buyback plans. The FTSE 100 gained 0.3% to close at 7,706.28, …

London’s blue-chip stocks ended the week with a mixed bag, but Standard Chartered was the clear winner, surging almost 5% after strong earnings and buyback plans.

The FTSE 100 gained 0.3% to close at 7,706.28, while the FTSE 250 dipped 0.4% to 19,179.56. The AIM All-Share also slipped 0.3% to 747.77.

Standard Chartered led the charge, jumping 4.9% after reporting a 10% rise in operating income for 2023. The Asia-focused bank also proposed a 50% increase in its annual dividend and announced a $1 billion share buyback, sending its shares soaring.

Insurer Beazley continued higher, adding 1.2% after revising its outlook and hinting at a potential $300 million capital return. This positive outlook helped buoy the company’s share price.

Daily Recap

Model railway model firm Hornby saw its stock skyrocket 33% after Frasers Group increased its stake in the company to 8.9%. This latest move fueled speculation about Frasers’ growing influence in the retail sector.

Electric vehicle drivetrain maker Saietta plummeted 79% after warning that it might not be able to continue trading without additional funding. The company said it is exploring financing options and holding discussions, but investors remained wary.

The FTSE 100 finished the week slightly higher, but broader market sentiment remained cautious amid ongoing economic concerns.

FTSE All-Share Gainers

PureTech 11.55%, Stvg 6.57%, Seraphim Sp 6.16%, Standard Chartered 4.85%, Funding Circle 4.73%, Regional Reit 4.7%, TBC Bank Group 3.21%, Jpmorgan Global 3.08%, Hochschild 2.73%, Blackrock Lat A 2.64%.

FTSE All-Share Fallers

888 Holdings -5.29%, Dominos -4.25%, Wag Payment -4.13%, Dowlais -4.02%, ME Group -4.02%, TUI AG -4%, Saga -3.94%, Headlam -3.81%, Harbour Energy -3.45%, Watches Switz -3.36%.

Sign up for Investomania

Subscribe to the Investomania newsletter to have our daily recap delivered directly to your inbox.

No spam. Unsubscribe anytime.