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Standard Bank shares gain as investors warm to trading update

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Lender expects headline profit to rise as much as 32% in the six months to end-June

Shares in Standard Bank rose as much 3% in intraday trade on Thursday, reaching their highest level since late June after Africa’s biggest lender by assets said its headline profit is likely to rise up to 32% in the six months to end-June.

The share price jumped the most in a month in midafternoon trade to R164.33, giving the bank a market valuation of R275.77bn. By the close, however, it had pared gains to 2.14% firmer at R162.89...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Source: Digital Coin News (digitalcoinnews.net)

 

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