Stock Spotlight: Standard Chartered takeover interest compounds as bank enjoys success in Asia

'Sustained period of underperformance'

Standard Chartered has been swept with rumours of a potential takeover by First Abu Dhabi Bank in recent weeks, pushing the bank to the forefront of the news cycle.

Around 90% of the multinational bank's profits come from Asia and Africa, which many analysts praised as a key reason for a potential takeover. The firm has only recently returned to its pre-covid stock price, having struggled to recover from the 49% drop it suffered following the outbreak of the pandemic. However, rising interest rates and new rumours of a takeover have pushed the stock up sharply, rising 32.8% in the last three months, according to data from Morningstar. Stock Spotlight: ICICI Bank piques interest of EM managers Simon Murphy, manager of the VT Tyndall Real...