Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Standard Chartered $500m share buyback announced
Half-year numbers from Standard Chartered [LON:STAN] show income up 10% on a normalised basis with that weighted slightly into Q2. The all critical for the sector metric of Return on Tangible Equity (RoTE) came in at 10.1%, up 20 basis points from the comparative period and the company has announced a $500m share buyback, despite also incurring a credit impairment charge of $267m.
#2. NatWest Group interims come with bonus of special divi for investors
Sticking with banks and NatWest Group [LON:NWG] also released their half year numbers today. Another strong performance was seen here with RoTE coming in at 13.1% and an attributable profit of almost £1.9 billion. The company has also realised a net impairment release of £46m in the ongoing banking – so called Go-forward – side of the business. Shareholders are being rewarded with a special dividend of 16.8p per share plus an interim payout of 3.5p per share
#3. Glencore half-year production report cautions over increased capital requirement
A half year production report from miner Glencore [LON:GLEN] painted a rather mixed picture, although the financial performance was buoyed as a result of those high energy prices. More details here will be released next week with the interim financial report but the company cautions that net capital requirements have increased driven by higher underlying prices as well as the increased margining requirements being seen by commodity exchanges.