Standard Chartered’s first-half trading had been “very strong” but the “economic horizon is increasingly uncertain”, the emerging markets-focused bank said in a trading update on Thursday.

Peter Sands, chief executive, said “we have yet to see a material slowdown in our markets”. Standard Chartered’s shares jumped on the statement but slipped back to stand 3.3 per cent or 52p lower at £15.17 in late morning trading.