U.K. market ends up, led by Standard Chartered
LONDON (MarketWatch) -- The U.K. stock market barely managed to close above the flat line on Thursday, as shares in
The FTSE 100 index (UKX) inched up 0.1% to 5,851.51.
Standard Chartered (STAN) rose 3.6%, extended gains from the previous day and recovering partly from steep losses earlier in the week after denying allegations by New York's Department of Financial Services of laundering at least $250 billion through deals with Iran.
Standard Chartered is seeking advice over a countersuit against the New York banking regulator, according to a Financial Times report Thursday, which cited unnamed sources. A representative from Standard Chartered declined to comment on Thursday.
Elsewhere, China's consumer-price index rose 1.8% in July from the year prior, showing the slowest increase since January 2010. This points to the possibility of more monetary policy easing from Chinese officials. China data point to slowdown, need for easing.
In London, oil-field services firm AMEC PLC (AMEC) slipped 4.8%, even after half-year results showed a 25% rise in earnings and a 15% increase in the interim dividend.