Three months ago, I logged a post titled "Profit Flaunting" in which I observed the Western banks peculiar behaviour of flaunting their profit for first quarter than had not yet ended. Perculiar because such disclosures were not required by securities guidelines and regulations. Nevertheless, the market reacted positively and their share prices promptly jumped. Indeed the momentum generated followed through and led the equity markets worldwide into successive months of upward movement.
We are now near the end of the second quarter but we have yet to hear any preliminary announcement from any major banks- flaunting type or otherwise. Are we to infer from the non-announcement or should we just sit tight and await the normal flow of announcement?
090626 Update: Standard Chartered PLC has announced that it has made good profit for the first five months of the year.
We are now near the end of the second quarter but we have yet to hear any preliminary announcement from any major banks- flaunting type or otherwise. Are we to infer from the non-announcement or should we just sit tight and await the normal flow of announcement?
090626 Update: Standard Chartered PLC has announced that it has made good profit for the first five months of the year.
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