1. Hello Guest Do you know binary.com offers exclusive $20 No Deposit Bonus for FX Binary Point visitors? Click here to sign up

Taylor Wimpey leads housebuilders lower but Standard Chartered jumps 6%

Discussion in 'Market News' started by Lily, Mar 3, 2016.

  1. Lily

    Lily Forum Member

    Joined:
    Aug 29, 2015
    Messages:
    7,416
    Likes Received:
    0
    Builders slide on mixed housing news but buy note boosts bank’s shares

    Housebuilding shares are subsiding after a mixed picture from the latest surveys of property prices.

    Halifax said the average price of a house fell 1.4% over the month in February, while Nationwide said they edged up just 0.3%. Overall, prices are expected to continue rising over the year, but the forthcoming EU referendum could weigh on the market.

    Restructuring a bank tends to be a difficult process where supportive markets are usually helpful. Unfortunately for Standard Chartered, it faces a weak operating environment but, unlike other banks trying to restructure in the sector, Standard now seems to be in control of its destiny. While we expect further losses during the first half of 2016 as Standard finishes dealing with legacy issues, the focus is moving from capital to revenues as balance sheet concerns fade. For that reason, we continue to believe Standard is a bank restructuring that is attractive, considering its 60% discount to tangible book value.

    Continue reading...
     

Share This Page