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StanChart Shares Soar 14% as Lender Raises Revenue Outlook

  • Shares jump in London trading after first quarter results
  • Record financial markets income offsets wealth management drop
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WATCH: Standard Chartered CFO Andy Halford discusses 1Q earnings, if the numbers are sustainable and the company’s dividends and buybacks.Source: Bloomberg
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Standard Chartered Plc shares surged after it beat estimates in the first quarter and the lender said revenue would climb more this year than previously predicted. 

Underlying pretax profit posted a surprise 4% rise to $1.5 billion in the period on a jump from its trading business, the London-based bank said in a statement Thursday. Revenue growth for all of 2022 is expected to “slightly exceed” the previously guided 5% to 7% range, it said.