Standard Chartered

Standard Chartered, one of the UK's largest banks, has seen its shares plunge almost 25% in morning trading as investors panic-sell in reaction to the news it may lose its US banking licence.

STANDARD CHARTERED

Analysts have warned the investment case for holding Standard Chartered has been hit with a 'hammer blow' following the news it may lose its US banking licence.

Shares in UK-listed banking giant Standard Chartered have dived in early trading, down 16%, amid allegations the bank assisted in a $250bn money laundering scheme.

London's leading index was 60 points higher in afternoon trading despite a slump in UK manufacturing data, as Next and Standard Chartered lifted the market.

Leading fund managers including Richard Buxton at Schroders have been increasing their exposure to major UK banks following the LIBOR scandal which has rocked the sector.

Schroders' Richard Buxton has revealed his best and worst stock ideas over the last ten years, as he marks a decade at the helm of the £2.7bn UK Alpha Plus fund.

With banks hitting the headlines for all the wrong reasons, Joanna Faith asks financials managers whether the recent volatility has provided a good buying opportunity or whether there is better value elsewhere.

ONE TO WATCH

Simon Murphy, manager of the Old Mutual UK Select Equity fund, discusses whether investors should be revisiting the UK's biggest banking stocks.