If you can keep your head while all about you are losing theirs, put some faith in Standard Chartered. The London-based bank reported a 30 per cent jump in first-half profits to $1.9bn on Tuesday, sending its shares up 68p to £16.38 on the day. As Standard makes three-quarters of its profits in Asia, it is not exposed to the collapse of the US sub-prime market. Chief executive Peter Sands says he's on the 'constant look-out for acquisitions' and has been linked to a move on South Africa's Nedbank. Investment bank Goldman Sachs lifted its price target from £16.12 to £16.90. Worth a look.
Join the Alliance
As investors flee the banking sector, Alliance & Leicester is also worth making an exception of, especially if you pocketed free shares at its demutualisation a decade ago. Rumours of a bid from National Australia Bank continue to circulate. A&L's new boss, David Bennett, is on holiday at the moment, making immediate bid action unlikely, but hold for jam tomorrow.
Flying high
Rolls-Royce, the aircraft engine manufacturer, is also a good buy for the brave at about 500p. After scaling the heights of 579p, there is plenty of headroom. It should benefit this week from fresh deals between US arms manufacturers and allies in the Middle East as the superpower rallies against the perceived threat posed by Tehran.
ITV's upward gradient
Can Michael Grade save ITV? Numis Securities's media analyst Lorna Tilbian believes so. 'Grade has made a promising start in revitalising ITV1,' she wrote last week, following first-half results. Although it continues to lose viewers, (-5.6 per cent over the period) ITV is outperforming commercial rivals; Channel 4 and Five lost over 10 and 8 per cent respectively. The autumn schedule looks strong, Tilbian says, and advertising revenues could increase in the fourth quarter. The only hitch is with shares trading at 107.5p, or 25 times earnings, a recovery is already priced into the picture.