StanChart boss stumps up £1m for shares

Standard Chartered’s new chief executive officer Bill Winters ploughed £1m into 168,000 shares in the bank at 599.08p each.

Winters’ spending spree brought his total holdings in the company to 229,035 shares with a value of around £1.4m.

"Last week we outlined our strategy to create a lean, focused and strongly capitalised bank that is positioned for long-term and sustainable growth. For me personally, I think this is a great investment and further aligns me with our shareholders," Winters said in a statement.

Chairman John Peace also flashed the cash, snapping up 50,000 shares at 591.20p each, bringing his holdings to 183,111.

Elsewhere, three of the directors of carbon products and ceramic manufacturer Morgan Advanced Materials bought shares in the company.

Chairman Andrew Shilston purchased 40,000 shares at 236.85 pence each, bringing his total interest in the company to 70,000 shares.

Human resources director Peter Blaustein bought 1,300 shares, while chief financial officer Kevin Dangerfield nabbed 10,000 shares at 223.40p each, bringing his shareholding to 289,933.

On Thursday, Morgan Advanced shares tumbled after it cautioned that earnings for the full-year were likely to come in at the low end of market expectations.

The group said trading conditions weakened in the second half of the year, with sluggish demand in China and North America hitting the overall order book, which was 5.3% lower year-on-year at the end of October compared with the 5.7% increase at the end of June.

Standard Chartered (STAN)

Director name: Mr Bill Winters

Amount purchased: 168,000 @ 599.08p

Value: £1,006,454

Standard Chartered (STAN)

Director name: Mr John Peace

Amount purchased: 50,000 @ 591.20p

Value: £295,600

Ashmore Group (ASHM)

Director name: Mr Peter J Gibbs

Amount purchased: 50,000 @ 249.39p

Value: £124,695

Morgan Advanced Materials (MGAM)

Director name: Mr Andrew B Shilston

Amount purchased: 40,000 @ 236.85p

Value: £94,740

Horizon Discovery Group (HZD)

Director name: Mr Grahame Cook

Amount purchased: 42,250 @ 141.00p

Value: £59,572

FirstGroup (FGP)

Director name: Mr Wolfhart Hauser

Amount purchased: 50,000 @ 99.91p

Value: £49,955

FirstGroup (FGP)

Director name: Mr Wolfhart Hauser

Amount purchased: 50,000 @ 99.85p

Value: £49,925

FirstGroup (FGP)

Director name: Mr Wolfhart Hauser

Amount purchased: 50,000 @ 99.18p

Value: £49,590

Horizon Discovery Group (HZD)

Director name: Dr Ian David Gilham

Amount purchased: 17,600 @ 141.00p

Value: £24,816

Horizon Discovery Group (HZD)

Director name: Ms Susan Searle

Amount purchased: 17,500 @ 141.00p

Value: £24,675