LONDON (ShareCast) - Standard Chartered offers a pre-close trading update on Thursday, with analysts at Credit Suisse noting it recently downgraded the stock to 'Underperform' and that they prefer HSBC in the UK Asian bank space.

Credit Suisse estimates the bank will report 7.2% year-on-year revenue growth, with underlying costs remaining flat in comparison to the previous year (excluding the bank levy and US regulatory costs).

"We estimate 14.6% year-on-year growth in profits before tax excluding US settlement charges," Credit Suisse noted.

"For wholesale we expect revenues to be up by 8.9% year-on-year...For consumer we estimate 4.6% year-on-year revenue growth and 1.8% year-on-year cost growth."

In a different market entirely, Mulberry’s recent profit warning will make investors watch to see if first-half sales numbers have moderated as expected.

"The slowdown of China and the general lack of confidence in the global economy may finally begin to hurt luxury consumers," says Sheridan Admans, investment research manager at The Share Centre.

"The company is currently fairly reliant on UK sales and handbags, so investors will welcome more geographic diversity and to see non hand-bag sales improve."

Admans currently lists Mulberry as a 'buy'.


INTERIMS
Micro Focus International, Mulberry Group, Smith (DS)

INTERIM DIVIDEND PAYMENT DATE
First Derivatives

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Continuing Claims (US) (13:30)
ECB Interest Rate (EU) (12:45)
GDP (1st release) (EU) (10:00)
Initial Jobless Claims (US) (13:30)

Q3
Premier Farnell

FINALS
CareTech Holding, OMG, Redhall Group

ANNUAL REPORT
Carr's Milling Industries

IMSS
Wolseley

EGMS
3Legs Resources, JSC Halyk Bank GDR (Reg S)

AGMS
Altus Resource Capital Ltd., City Natural Resources High Yield Trust, Egdon Resources, Jellybook Ltd (DI), RSM Tenon Group, Wessex Exploration

TRADING ANNOUNCEMENTS
PZ Cussons, Standard Chartered

UK ECONOMIC ANNOUNCEMENTS
Balance of Trade (09:30)
New Car Registrations (09:30)
UK Trade (09:30)

FINAL DIVIDEND PAYMENT DATE
Fidelity Asian Values

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE