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FTSE 100 movers: StanChart gains on buyback; Beazley bounces again

(Sharecast News) - London's FTSE 100 was up 0.3% at 7,708.26 in afternoon trade on Friday. Asia-focused bank Standard Chartered surged as it unveiled a new $1bn buyback, increased dividend and higher annual profits, but reined in guidance on income for the current year.

The bank reported an 18% rise in pre-tax profit to $5.1bn and lifted its full-year dividend 50% to 27 cents a share, well above estimates of 23.7 cents.

However, it also forecast income growth at the upper end of 5-7% this year, down from the previous estimate of 8-10% given last October. The lender reported a 13% rise in income in 2023 on a constant currency basis.

Beazley was in the black again, having rallied a day earlier as it upgraded its guidance on 2023 undiscounted combined ratio from low-80s to mid-70s thanks to a better-than-expected claims experience during the year.

It also said that as well as an ordinary dividend, shareholders will receive an additional capital return for the year of around $300m.

FTSE 100 - Risers

Standard Chartered (STAN) 656.40p 8.39% JD Sports Fashion (JD.) 115.50p 1.81% Kingfisher (KGF) 229.70p 1.59% HSBC Holdings (HSBA) 598.00p 1.27% Anglo American (AAL) 1,790.80p 1.19% InterContinental Hotels Group (IHG) 8,696.00p 1.12% B&M European Value Retail S.A. (DI) (BME) 534.60p 1.06% NATWEST GROUP (NWG) 230.50p 1.05% Beazley (BEZ) 640.50p 1.03% London Stock Exchange Group (LSEG) 8,924.00p 0.90%

FTSE 100 - Fallers

St James's Place (STJ) 644.80p -2.69% Vodafone Group (VOD) 64.24p -2.28% Centrica (CNA) 125.95p -2.06% BT Group (BT.A) 105.35p -1.95% M&G (MNG) 222.60p -1.68% Admiral Group (ADM) 2,530.00p -1.52% Smith (DS) (SMDS) 319.60p -1.51% Prudential (PRU) 810.80p -1.43% Glencore (GLEN) 374.85p -1.33% Whitbread (WTB) 3,499.00p -1.21

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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