FTSE 100 Reaches Two-Month High Lifted by Miners, -2-

0939 GMT - Standard Chartered will continue to benefit from strong structural growth as cyclical and episodic factors support higher revenue, Berenberg says in a note after the bank's second-quarter revenue rose 24% on year. This growth trend should persist at a lower level, analyst Peter Richardson writes, adding structural growth is seen in financial market revenues, partly reflecting the liberalization of flows in Asia. Its wealth-management revenues don't yet reflect the benefit of recent investment flows and account openings, he adds, noting a return of client risk appetite should provide further cyclical revenue support. Net interest income continues to rise--unlike at domestic U.K. peers--underpinned by deposit growth and an increasingly stable mix of deposits, and should persist in the rest of 2023 and beyond, he adds. ([e-mail])

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Serabi Gold's Documented Community Support Should Help Unlock Coringa Value

0938 GMT - Serabi Gold's new deal with representatives of two indigenous communities could jumpstart the completion of the indigenous report of the Coringa project, and could be a significant catalyst in rerating the shares, Peel Hunt analysts write in a research note. "We expect this to drive production from the 33,500 ounce we expect in 2023 to 55,000 oz per year," they say. "Further potential value could be released in the longer term should a standalone gold plant be erected at the Coringa site," they add. Serabi Gold is a corporate client of Peel Hunt, which keeps a buy rating and a 66 pence price target on the stock. Shares are up 15% at 26.50 pence. ([e-mail])

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Pod Point Booked Weak 1H, Numis Says

0931 GMT - Pod Point posted a weak first half-year performance, and given near-term challenges and anticipated cash-burn over the medium term, investors are advised to wait and see, Numis analysts write in a research note. First-half revenue was 26% lower on year, with home installations down 58%, representing a sharp reduction in market share, the analysts say. "The reduced penetration is attributed to shift in mix toward fleet vs. private new registrations, increased competition and expiry of the OZEV grant in the prior year," they say. Numis expects the electric-vehicle charging company to reach the bottom end of its full-year guidance. The U.K. brokerage keeps a hold rating and a 30 pence price target on the stock. Shares are up 6% at 31.70 pence. ([e-mail])

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BOE Decision Seen Finely Balanced Between 25Bps And 50Bps

0914 GMT - The Bank of England could raise its key rate at Thursday's meeting by either 25 basis points to 5.25% or by 50 basis points to 5.50%, Michael Siviter, senior fixed income portfolio manager at Invesco, says in a note. "The decision is finely balanced, which is reflected in market pricing giving approximately an equal probability to each outcome," he says. The argument for a bigger 50bps rise is that wage growth remains inconsistent with declining inflation, though a 25bps rise would give the BOE more time to assess the data and reduce the risk of overtightening, he says. ([e-mail])

Contact: London NewsPlus; [e-mail]

(END) Dow Jones Newswires

07-31-23 1216ET