Standard Chartered unveils new growth targets, SSP reports LFL sales slowdown
By Benjamin Chiou
Date: Tuesday 19 May 2026
(Sharecast News) - LONDON PRE-OPEN
The FTSE 100 is expected to open 25 points higher (+0.3%) on Tuesday after jumping 1.3% the previous session to close at 10,323.75
STOCKS TO WATCH
Banking group Standard Chartered has said it expects to deliver a return on tangible equity of over 15% by 2028, more than 3 percentage points higher than 2025, rising to around 18% by 2030. After delivering its 2026 financial targets a year earlier than planned, the company has set out new medium-term targets that also include producing an earnings per share CAGR in the high-teens and 5-7% income CAGR between 2025 and 2028. "We are investing in long-term structural trends to help corporate and institutional clients navigate a more connected, digital and increasingly complex global economy," the bank said.
SSP Group said like for like sales in the first six weeks of its second half rose 3% compared to 5% in the first two quarters of the fiscal year. The airport and rail food outlet operator said it still expected earnings to be with consensus estimates despite the impact of the Iran war on travel. "However, if the operating environment were to deteriorate e.g. due to a resumption of the conflict in the Middle East, a material further decline in the availability of aviation fuel, or a marked softening of consumer travel sentiment, it would inevitably impact our full year performance," the company said on Tuesday. Underlying operating profit for the six months to March 31 rose 9% to £50m.
Electricals retailer Currys said full-year profit was set to be ahead of guidance as it hailed a strong performance in the UK & Ireland and the Nordics. The company now expects full year adjusted pre-tax profit of around £191m, up 18% on the previous year and above guidance for between £180m and 190m.
NEWSPAPER ROUND-UP
A rescue deal for Thames Water is under threat because of a potential change in prime minister, government insiders have said. Ministers are negotiating a takeover deal for the stricken water company with a consortium of creditors led by American investment firm Elliott Management. But government sources said that deal, which some expected to be concluded this month, has run into problems in part because of the uncertainty surrounding Keir Starmer's position as prime minister. - Guardian
The operator of Belfast harbour plans to spend £1.3bn over the next 25 years to take advantage of strong economic growth in Northern Ireland, in what would be one of the largest non-governmental investments in the region's history. The Belfast Harbour Commissioners said the money would be spent on upgrading the port, with the possibility of residential property developments that could add another £750m in investment on top. - Guardian
Elon Musk has lost a legal fight against OpenAI, clearing the way for the ChatGPT maker to launch a $1tn (£745bn) flotation. In a unanimous verdict on Monday, a US jury ruled against the Tesla billionaire, saying he had left it too late to bring his case against OpenAI. The nine-person jury found that OpenAI, Sam Altman, its chief executive, and Greg Brockman, its president, were not liable for Mr Musk's claims against the company. They said Mr Musk had brought his case after the expiration of the three-year statute of limitations. - Telegraph
English wine makers have suffered their worst spring frost in a decade, raising fears it could wipe out harvests at vineyards across the country. Nicola Bates, the chief executive of industry group WineGB, said a number of vineyards would not make "a lot of wine this year" after they were struck by plunging temperatures earlier this month. - Telegraph
A recent fall has led to levels of youth employment approaching the decline seen during the Covid-19 pandemic and the 2008 financial crisis, according to the Institute for Fiscal Studies. The number of payrolled employees aged 16 to 24 fell by 4.3 percentage points, or 330,000 people, between December 2022 and December 2025, to 50.6 per cent from 54.9 per cent. - The Times
The liquidators of Evergrande, the collapsed Chinese housebuilding group, are seeking damages of more than $8 billion from its auditor PwC. They accuse the Big Four firm, which signed off on Evergrande's accounts for 14 years before its failure in 2021, of being negligent in its audit work. A Hong Kong court was told on Monday that the liquidators, Edward Middleton and Tiffany Wong of Alvarez & Marsal, were seeking 57 billion yuan ($8.4 billion), which they could use to repay some of Evergrande's creditors. - The Times
US CLOSE
US stocks finished mixed on Monday, with elevated bond yields and nervousness about Nvidia's upcoming earnings weighing on risk appetite, though indices pared earlier losses on tentative hopes of a peace deal between Washington and Tehran.
President Donald Trump, who had warned Iran at the weekend that the "clock is ticking" to propose an adequate deal to end the war, said a planned attack on the country had been paused on Monday. Following the request of leaders of Qatar, Saudi Arabia and the UAE, Trump said that "serious negotiations are now taking place".
Stock markets, while rangebound, rallied before the close to bounce off their earlier lows. The Dow gained 0.3%, the S&P 500 slipped 0.1%, while weakness in the tech sector dragged the Nasdaq down 0.5%.
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