How To Spread Bet As Standard Chartered Reject Allegations
LONDON, August 10, 2012 /PRNewswire/ --
On Monday, 6 August, it was reported that Standard Chartered had hidden 60,000 transactions with Iran between 2001 and 2010.
As we near the end of the week, Standard Chartered has rejected allegations of money laundering, leaving investors curious as to how this could affect the bank's future share price.
As an alternative to traditional trading, investors can open up trading opportunities in a market that both rises and falls with a financial spread betting account.Here, we look at the news out of Standard Chartered and how you can spread bet on its future share price with the potential to profit. Standard Chartered Reject Iran Allegations On Wednesday, 8 August, Standard Chartered's chief executive Peter Sands 'fundamentally rejected' the allegations that the bank had laundered as much as $250 billion (£161 billion) in Iran-related transactions. However, Sands did apologise that for some deals, US sanctions had been violated. In a conference call on Wednesday, Sands stated: "There was no systematic attempt to circumvent sanctions." Following the accusations on Monday by US regulators, Standard Chartered shares plunged, slumping 22% by close of trade on Tuesday, 7 August. By mid-morning trading on Thursday, August 9, however, shares had recovered significantly, but were still down by around 16% as compared to levels before the news hit the markets on Monday. You can take a spread betting position on Standard Chartered shares through City Index's online spread betting platform. How to Spread Bet Standard Chartered Shares Through a financial spread betting account, you can speculate on the future price movement of thousands of global markets. With City Index, you can spread bet shares, indices, commodities and more, for only a small initial deposit - approximately between 1% and 10% of the value of the trade you wish to place. Investors looking to spread bet Standard Chartered shares can do so with the potential to profit regardless of whether the company's share price rises or falls.
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