When it comes to knowing how bad things are for Standard Chartered (STAN), chief executive Bill Winters and chairman Sir John Peace should have the best idea. After throwing out the kitchen sink at the third-quarter stage, Mr Winters is now throwing a cool £1m into his bank's shares, with Sir John buying £295,600 worth.
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Any market-watchers expecting a post-results rally have been disappointed, as emerging market worries and capital concerns weigh on the stock. When a £3.3bn capital raising was announced with the dire Q3 numbers, the City's reaction seemed to be a mixture of 'I told you so' and questions about whether it went far enough, considering the further bad loans provisions expected to be in the pipeline.
The contrarian view is that Mr Winters has set the bar for future return expectations so low - targeting just 8 per cent return on equity by 2018 - that the bank cannot help but fall over it.
| Buys | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| 3i Infrastructure | Stephen Wilderspin | 12 Nov 15 | 16,000 | 178.67 | 28,588 | 25,000 | 0.003 |
| Anglo American † | Dr. Byron Grote | 18 Nov 15 | 2,500 | 445.61 | 11,140 | 23,500 | 0.002 |
| Ashmore | Peter Gibbs (ch) | 12 Nov 15 | 50,000 | 249.39 | 124,695 | 50,000 | 0.007 |
| Athelney Trust | S Moore | 13 Nov 15 | 20,700 | 225 | 46,575 | 25,700 | 1.296 |
| BAE Systems ♥ | Sir Roger Carr (ch) | 18 Nov 15 | 41,978 | 472.88 | 198,506 | 92,224 | 0.003 |
| Camper & Nicholsons Marina Inv | Clive Whiley (ce) | 13 Nov 15 | 185,000 | 6.77 | 12,525 | 2,185,000 | 1.318 |
| Drax | Will Gardiner (fd) | 16 Nov 15 | 21,168 | 233.74 | 49,477 | 21,168 | 0.005 |
| Electra Private Equity | Edward Bramson | 16 Nov 15 | 2,750 | 3,620 | 99,550 | 10,816,297 | 29.664 |
| FirstGroup | Dr. Wolfhart Hauser (ch) | 12 Nov 15 | 50,000 | 99.91 | 49,955 | 177,078 | 0.015 |
| FirstGroup | Dr. Wolfhart Hauser (ch) | 12 Nov 15 | 50,000 | 99.85 | 49,925 | 127,078 | 0.011 |
| FirstGroup | Dr. Wolfhart Hauser (ch) | 12 Nov 15 | 50,000 | 99.18 | 49,590 | 77,078 | 0.006 |
| Gaming Realms | Patrick Southon (ce) | 12 Nov 15 | 400,000 | 25 | 100,000 | 11,585,501 | 4.649 |
| Grafenia | Conrad Bona | 12 Nov 15 | 100,000 | 12.5 | 12,500 | 200,000 | 0.434 |
| Grafenia | Conrad Bona | 17 Nov 15 | 100,000 | 12.5 | 12,500 | 300,000 | 0.651 |
| Gresham Computing ♥ | MME Royde | 16 Nov 15 | 310,000 | 108 | 334,800 | 6,579,664 | 10.399 |
| Halfords | Dennis Millard (ch) | 12 Nov 15 | 5,000 | 393.55 | 19,678 | 60,000 | 0.030 |
| Henderson International Income Trust | Simon Jeffreys | 17 Nov 15 | 24,972 | 120.13 | 29,999 | 127,397 | 0.159 |
| Horizon Discovery | Grahame D Cook | 12 Nov 15 | 42,250 | 141 | 59,573 | 42,250 | 0.045 |
| Horizon Discovery | Susan Searle | 12 Nov 15 | 17,500 | 141 | 24,675 | 37,500 | 0.040 |
| Horizon Discovery | Dr. Ian Gilham (ch) | 12 Nov 15 | 17,600 | 141 | 24,816 | 31,488 | 0.033 |
| Horizon Discovery | Dr. Vishnal Gulati | 12 Nov 15 | 14,100 | 141 | 19,881 | 14,100 | 0.015 |
| Horizon Discovery ♥ | Dr. Jonathan Milner | 12 Nov 15 | 7,500 | 141 | 10,575 | 9,699,680 | 10.309 |
| International Public Partnerships * | Giles Frost | 13 Nov 15 | 150,000 | 131.25 | 196,875 | 418,745 | 0.049 |
| International Public Partnerships * | John Whittle | 13 Nov 15 | 50,000 | 131.25 | 65,625 | 41,184 | 0.005 |
| International Public Partnerships * | John Stares | 13 Nov 15 | 75,000 | 131.25 | 98,438 | 75,000 | 0.009 |
| International Public Partnerships ♥ * | Rosemary Dorey (ch) | 13 Nov 15 | 150,000 | 131.25 | 196,875 | 793,687 | 0.093 |
| KAZ Minerals | Andrew Southam (cfo) | 17 Nov 15 | 99,238 | 80.20 | 79,588 | 137,097 | 0.031 |
| KAZ Minerals | Simon Heale (ch) | 17 Nov 15 | 58,000 | 81.83 | 47,459 | 209,000 | 0.047 |
| KAZ Minerals ♥ | Simon Heale (ch) | 17 Nov 15 | 17,655 | 84.47 | 14,912 | 228,655 | 0.051 |
| Kennedy Wilson Europe Real Estate | Mary Ricks | 13 Nov 15 | 20,000 | 1,175 | 235,000 | 120,916 | 0.089 |
| Morgan Advanced Materials | Kevin Dangerfield (cfo) | 13 Nov 15 | 10,000 | 233.4 | 23,340 | 289,933 | 0.102 |
| Morgan Advanced Materials ♥ | Andrew Shilston (ch) | 13 Nov 15 | 40,000 | 236.85 | 94,740 | 70,000 | 0.025 |
| Old Mutual | Zoe Cruz | 13 Nov 15 | 34,500 | 191.23 | 65,974 | 34,500 | 0.001 |
| President Energy | Peter Levine (ch & ce) | 13 Nov 15 | 306,649 | 6.47 | 19,840 | 117,558,197 | 24.516 |
| Renewables Infrastructure * | Klaus Hammer | 13 Nov 15 | 20,000 | 100 | 20,000 | 24,838 | 0.004 |
| Science in Sport * | Stephen Moon (ce) | 12 Nov 15 | 254,000 | 59 | 149,860 | 675,330 | 1.678 |
| Science in Sport * | Dawson Buck | 12 Nov 15 | 111,900 | 59 | 66,021 | 593,577 | 1.475 |
| Serco | Sir Roy Gardner (ch) | 18 Nov 15 | 25,000 | 99.38 | 24,844 | 25,000 | 0.002 |
| SIG | Janet Ashdown | 17 Nov 15 | 11,750 | 126.48 | 14,861 | 33,450 | 0.006 |
| SIG | Leslie Van de Walle (ch) | 17 Nov 15 | 25,000 | 126.48 | 31,620 | 75,000 | 0.013 |
| Smiths | Sir Julian Horn-Smith | 18 Nov 15 | 100,000 | 992.75 | 992,750 | 100,000 | 0.025 |
| Spire Healthcare | Simon Rowlands | 13 Nov 15 | 214,516 | 306.47 | 657,427 | 214,516 | 0.053 |
| Standard Chartered | Sir John Peace (ch) | 12 Nov 15 | 50,000 | 591.2 | 295,600 | 183,111 | 0.007 |
| Standard Chartered | Bill Winters (ce) | 12 Nov 15 | 168,000 | 599.08 | 1,006,454 | 229,035 | 0.009 |
| Telit Communications | Enrico Testa (ch) | 18 Nov 15 | 38,000 | 190 | 72,200 | 1,038,000 | 0.902 |
| TyraTech Inc * | Bruno Jactel (ce) | 18 Nov 15 | 435,733 | 3 | 13,072 | 2,438,157 | 2.132 |
| TyraTech Inc * | Alan Reade (ch) | 18 Nov 15 | 1,050,004 | 3 | 31,500 | 13,783,620 | 12.054 |
| TyraTech Inc * | Barry Riley (cfo) | 18 Nov 15 | 525,000 | 3 | 15,750 | 3,723,413 | 3.256 |
| TyraTech Inc * | James Hills | 18 Nov 15 | 539,200 | 3 | 16,176 | 1,779,957 | 1.557 |
| U and I | Richard Upton (ce) | 17 Nov 15 | 30,750 | 228 | 70,110 | 2,837,949 | 2.271 |
| U and I | Richard Upton (ce) | 13 Nov 15 | 13,250 | 225 | 29,813 | 2,807,199 | 2.247 |
| U and I ♥ | Matthew Weiner (ce) | 17 Nov 15 | 15,500 | 229 | 35,495 | 211,213 | 0.169 |
| U and I ♥ | Marcus Shepherd (fd) | 18 Nov 15 | 8,629 | 231.75 | 19,998 | 119,295 | 0.095 |
| Utilico Emerging Markets | John Rennocks | 18 Nov 15 | 40,000 | 166.63 | 66,650 | 40,000 | 0.019 |
| Sells | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Burberry | David Tyler | 13 Nov 15 | 14,000 | 1,294 | 181,160 | 30,000 | 0.007 |
| Carr's Group ♥ | Chris Holmes (ch) | 18 Nov 15 | 12,500 | 169.1 | 21,138 | 1,240,000 | 1.381 |
| China Nonferrous Gold | Abuali Ismatov | 18 Nov 15 | 250,000 | 22 | 55,000 | 4,325,000 | 1.131 |
| Hastings Group Holdings | Richard Brewster ♣ | 16 Nov 15 | 41,041 | 170 | 69,770 | 19,133,222 | 2.911 |
| Hastings Group Holdings | Dr. Gary Hoffman (ce) ♣ | 16 Nov 15 | 5,945 | 170 | 10,107 | 2,771,785 | 0.422 |
| LivaNova | Daniel Moore (ch) | 16 Nov 15 | 2,500 | 5,608 | 140,200 | 70,937 | 0.145 |
| MJ Gleeson | J Harrison (ce) | 16 Nov 15 | 190,737 | 493 | 940,333 | 1,704,672 | 3.150 |
| Nanoco | Dr. Michael Edelman (ce) | 17 Nov 15 | 1,357,025 | 44.2 | 599,805 | 5,631,615 | 2.376 |
| Rathbone Brothers | Paul Chavasse | 16 Nov 15 | 2,699 | 2,248 | 60,674 | 99,178 | 0.207 |
| * placing/tender/open offer ♥ spouse/connected party Ω ISA/SIPP/Trust † depositary receipts ♣ pursuant to the over-allotment | |||||||
