Thursday preview: Standard Chartered offers trading update

Standard Chartered offers a pre-close trading update on Thursday, with analysts at Credit Suisse noting it recently downgraded the stock to 'Underperform' and that they prefer HSBC in the UK Asian bank space.

Credit Suisse estimates the bank will report 7.2% year-on-year revenue growth, with underlying costs remaining flat in comparison to the previous year (excluding the bank levy and US regulatory costs).

"We estimate 14.6% year-on-year growth in profits before tax excluding US settlement charges," Credit Suisse noted.

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"For wholesale we expect revenues to be up by 8.9% year-on-year...For consumer we estimate 4.6% year-on-year revenue growth and 1.8% year-on-year cost growth."

In a different market entirely, Mulberry's recent profit warning will make investors watch to see if first-half sales numbers have moderated as expected.

"The slowdown of China and the general lack of confidence in the global economy may finally begin to hurt luxury consumers," says Sheridan Admans, investment research manager at The Share Centre.

"The company is currently fairly reliant on UK sales and handbags, so investors will welcome more geographic diversity and to see non hand-bag sales improve."

Admans currently lists Mulberry as a 'buy'.

INTERIMS

Micro Focus International, Mulberry Group, Smith (DS)

INTERIM DIVIDEND PAYMENT DATE

First Derivatives

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Continuing Claims (US) (13:30)

ECB Interest Rate (EU) (12:45)

GDP (1st release) (EU) (10:00)

Initial Jobless Claims (US) (13:30)

Q3

Premier Farnell

FINALS

CareTech Holding, OMG, Redhall Group

ANNUAL REPORT

Carr's Milling Industries

IMSS

Wolseley

EGMS

3Legs Resources, JSC Halyk Bank GDR (Reg S)

AGMS

Altus Resource Capital Ltd., City Natural Resources High Yield Trust, Egdon Resources, Jellybook Ltd (DI), RSM Tenon Group, Wessex Exploration

TRADING ANNOUNCEMENTS

PZ Cussons, Standard Chartered

UK ECONOMIC ANNOUNCEMENTS

Balance of Trade (09:30)

New Car Registrations (09:30)

UK Trade (09:30)

FINAL DIVIDEND PAYMENT DATE

Fidelity Asian Values