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Standard Chartered's shares rise after payout

15th August 2012

FTSE 100 company Standard Chartered has rebounded nicely and risen to the summit of the index's leading shares as investors were buoyed by its lower-than-expected settlement.

The Press Association reports that it agreed a $340 million (£217 million) settlement with the New York State Department of Financial Services (DFS) over allegations that it hid transactions with the Iranian government.

This led its share price to rise three per cent £14.085 during early trading.

Other positive news included top mover Insurer Resolution jumping 13.3p to £233.10 and Balfour Beatty increasing by one per cent - a big move in the struggling construction sector.

Chief executive Ian Tyler said the group was "well-placed to take full advantage of the global growth in infrastructure markets".

But these highlights rise did little to stem the pressure felt from the Asian markets overnight and the blue chip index fell 40 points to 5,824.

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