StanChart has agreed to pay $327 million to resolve allegations that it violated U.S. sanctions against Iran, Sudan and two other countries, capping months of legal headaches for the British bank.
Stocks posted a modest gain in thin, volatile trading Thursday ahead of the jobs report, while worries over the looming "fiscal cliff" continued to linger.
European shares finished in positive territory Thursday as the ECB and the Bank of England kept interest rates unchanged.
Futures turned slightly lower Thursday, despite a better-than-expected jobless claims report, as worries over the "fiscal cliff" lingered.
Cormac Leech, bank equity researcher at Liberum Capital, tells CNBC that Standard Chartered bank is extremely well positioned to take advantage of some of the fastest growing regions in the global economy.
Standard Chartered expects to pay $330 million to settle a case with U.S. regulators, further denting profit growth this year.
Jim Antos, Bank Analyst, Mizuho says Standard Chartered is not a recovery story, adding that HSBC's stock will continue to outperform.
Asian shares hit a 16-month high on Wednesday, led by surging Chinese equities on hopes for stable growth, but concerns over whether U.S. lawmakers can break a budget impasse before year-end to avert a possible economic slump kept optimism in check.
SHANGHAI, Nov 6- The yuan closed two points weaker on Tuesday thanks to a last minute bout of dollar buying, but otherwise hugged the strong side of its trading band over the course of the day. The People's Bank of China set its midpoint at 6.3078 p er dollar on Tuesday morning, slightly firmer than Monday's fix, despite a strengthening trend in the dollar index.
*PBOC sets weaker midpoint for third day. SHANGHAI, Nov 5- The yuan closed down slightly on Monday but its weakness was largely imposed by the central bank, which fixed a softer midpoint even as customers continued to unload dollars.
*PBOC sets weaker midpoint for third day. SHANGHAI, Nov 5- China's central bank set the yuan midpoint weaker for the third consecutive trading day on Monday, but customers continued to unload dollars, causing the spot rate to repeatedly bump into the limit of its trading band.
The near term is always always uncertain,'' Christian Murck, president of the American Chamber of Commerce in China and independent director of J.P. Morgan Chase Ltd, told Reuters. A lighter regulatory touch on bond writing, derivatives and funding channels are seen as crucial to foreign banks' growth in China.
LONDON/ FRANKFURT, Nov 2- European banks will dominate the group of lenders required to hold extra capital to protect the global financial system, despite moves to shrink their businesses in response to the region's debt crisis. Eight are from the United States, and four are from Asia.
*AngloGold Ashanti suspends operations at S. African mine. Spot gold was at $1,709.26 at 1102 GMT, down 0.63 percent, while U.S. gold futures for December fell $5.80 to $1,709.70. ``The stronger dollar is bringing down a number of markets including gold,'' Standard Chartered analyst Daniel Smith said.
*Citigroup, Deutsche Bank, HSBC, JPMorgan Chase top list. *G20 finance ministers meet in Mexico this weekend. Nov 1- Citigroup Inc, Deutsche Bank, HSBC and JPMorgan Chase& Co will need to hold the most extra capital of 28 banks considered so large and complex they need an extra buffer to absorb potential losses, global regulators said on Thursday.
WASHINGTON, Nov 1- Standard Chartered is close to wrapping up discussions to resolve U.S. investigations into its Iran- linked transactions and nearing agreement on a fine in the $300- million range, mirroring a much-publicized state settlement over similar allegations, according to four people familiar with the matter.
*Citigroup, Deutsche Bank, HSBC, JPMorgan Chase top list. *G20 finance ministers meet in Mexico this weekend. Nov 1- Global regulators on Thursday said Citigroup Inc, Deutsche Bank, HSBC and JPMorgan Chase& Co will need to hold the most extra capital of 28 banks considered so large and complex they need an extra buffer to absorb potential losses.
LONDON, Nov 1- Banks will have to hold more capital after recent hefty fines, trading losses, money laundering and rate-rigging showed that operational risks are not being covered properly. U.S. energy regulators this week proposed fining the bank $470 million for alleged rigging of California's power markets.
LONDON, Oct 31- Flagging growth prospects for the euro zone's biggest economies will prompt the European Central Bank to ease monetary policy more early next year, according to a slim majority of economists polled by Reuters.
*U.S. stocks higher as Wall Street reopens after 2- day closure. LONDON, Oct 31- World shares and the euro edged up on Wednesday as a storm-hit Wall Street began trading after its two-day closure and investors looked ahead to economic data later in the week.