London, March 3, 2026, 09:33 GMT — Regular session
Standard Chartered PLC shares fell nearly 4% in early London dealing on Tuesday, extending a sharp pullback for UK banks. The stock was down 3.98% at 1,666 pence by 0933 GMT, with HSBC, Barclays and Lloyds each off more than 4%. 1
Investors have been dumping risk assets since the weekend as the U.S.-Israeli war with Iran pushed oil higher and revived inflation worries, a headache for central banks trying to cut rates. Traders on Monday saw the chance of a Bank of England rate cut later in March at about 52%, down from 78% the previous week. “If the issues persist, then the market will start to worry about new inflationary pressures,” said Dan Coatsworth, head of markets at AJ Bell. 2
The conflict is spilling into boardrooms and dealing desks. Standard Chartered has asked employees to delay travel to the Middle East, Reuters reported, as banks brace for disruption to fundraising and cross-border transactions. 3
Standard Chartered fell 5.29% on Monday, closing at 17.35 pounds in heavy trading. Volume hit about 6.6 million shares, above the 50-day average of 4.7 million, and the stock is roughly 10% below its 52-week high of 19.24 pounds set on Feb. 3, MarketWatch said. 4
In a filing on Tuesday, the bank said it bought back 808,989 shares on March 2 at a volume-weighted average price of 1,733.3119 pence. The repurchase is part of a buyback programme — the company buying its own stock — and Standard Chartered said the shares will be cancelled. 5
It also said it will redeem in full HK$1.1 billion of 4.70% fixed-rate notes due March 2027, using its right to repay early. The bank set March 21 as the redemption date and said the notes’ London listing would be cancelled on or shortly after March 24. 6
Europe’s bank sector was among the hardest hit in Monday’s regional selloff as oil jumped and investors ran for safety. “We expect a short, hard-hitting regional conflict,” said Paul Christopher, head of global investment strategy at Wells Fargo Investment Institute, adding markets have often bounced once it was clear the fighting would not choke oil flows. 7
But that outcome is not guaranteed. European shares extended their decline on Tuesday and banks were again among the worst-performing sectors, with the jump in oil prices fuelling fears of a higher cost of living; ECB chief economist Philip Lane warned a long war could push inflation up and weigh on growth. For lenders, that can mean weaker loan demand and fatter credit-loss buffers. 8
In the UK, the next key date on traders’ screens is the Bank of England’s policy decision on March 19. 9
Standard Chartered is due to report its Q1 financial results on April 30, when investors will look for any read-through on client activity, credit quality and capital returns. 10
