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STANCHART (02888.HK) Rebounds Nearly 5% in Afternoon as 2Q Pre-tax Profit Beats Forecasts; Launches USD1B Share Buyback
2026-07-29 13:06:48 STANCHART (02888.HK) opened down 0.6% this morning (29 Jul) and remained weak in the early session. The stock closed at HKD218.4 at midday, down nearly 2%. The group announced its second-quarter and interim results at noon, and unveiled a further USD1 billion share buyback plan. The stock surged in the afternoon and is now trading at HKD233.6, up 4.8%, with turnover of 920,300 shares involving HKD205 million. The group announced results for the second quarter ended June. Operating income rose 3.2% to USD5.7 billion. Excluding the USD238 million gain from the Solv India transaction in 2Q25, income increased 8%. Second-quarter pre-tax profit was USD2.33 billion, up 2.4% YoY and above market expectations of USD2.08 billion. For 1H26, the group's pre-tax profit rose 9% YoY to USD4.784 billion. Profit attributable to shareholders increased 10% YoY to USD3.653 billion. EPS was 151.6 US cents. Interim dividend increased 66% to 20.4 US cents per share, and the group also launched a further USD1 billion share buyback plan. (da/u)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |