3 Mar

CityAM

• “This suggests a worrying continuation of what it terms a “tepid” macro environment, clients “grinding it out in a highly competitive game” and a cooling of positive tailwinds,” said Mike van Dulken, head of research at Accendo Markets. “Not really what investors want to hear when shares are just shy of all-time highs.”

• http://www.cityam.com/260219/analysts-react-wpps-share-slide

2 Mar

This is Money

• Mike van Dulken, at Accendo Markets, said: ‘It was a record finish on Wall Street, a baton that Asia has been only too happy to take up overnight fuelled further by rising expectations of a mid-month US rate hike and high interest helping Snap price today’s IPO above the expected range.’ He added: ‘The UK Index was buoyed by persistent GBP weakness derived from a rampant USD via expectations of another stateside rate-hike warranted by solid US economic data while the UK’s House of Lords voting to amend the Brexit bill has added to political uncertainty, both perversely supporting the UK index of blue chips by flattering the value of internationally generated profits.’

• http://www.thisismoney.co.uk/money/news/article-4274120/MARKETS-LIVE-London-s-UK Index -cools.html

1 Mar

Digital Look

• “Equities are embracing a more Presidential Trump whose congressional address offered just enough to rekindle bullishness (infrastructure plus defence spend and tax breaks) even if detail was distinctly lacking. Then again markets move more on hopes and fears than confirmation and facts. Hence the old adage, ‘buy the rumour, sell the fact’”, said Mike van Dulken, head of research at Accendo Markets. “A stronger dollar after hawkish comment from the Fed’s Dudley (March rate hike more likely) is also offering helpful weakness in sterling and euro to boost the UK Index and DAX.”
• http://www.digitallook.com/news/market-report-europe-close/europe-close-investors-react-to-trump-speech-reflation-trade-on-again–2552989.html

28 Feb

Marketwatch

• Investors are “cautiously optimistic about Trump’s congressional address, desperately wanting more clarity about the policy ideas fueling this rally,” said Accendo Markets analysts Mike van Dulken and Henry Croft, in a note. “Expect much more about increased military spending at the expense of agency budgets, although anything on infrastructure spending could be enough to make up for silence on tax to soothe any bullish nerves,” Dulken and Crofit said.
• http://www.marketwatch.com/story/UK Index -100-adrift-ahead-of-trump-address-2017-02-28

27 Feb

Telegraph

• Mike van Dulken, of Accendo Markets, said: “European equities are pretty flat into the new week, investors awaiting elaboration, if not confirmation, of major US tax changes from Trump to justify a near 3-month rally since his election. A USD off overnight rebound highs, however, has evaporated what was initially helpful GBP and EUR weakness, the GBP having dropped on fears of another Scottish referendum on independence due to Brexit. This while European politics (FR, NL) keep things spicy and M&A optimism suffers further from competition demands looking set to scupper an LSE-Deutsche Börse merger. “
• http://www.telegraph.co.uk/business/2017/02/27/UK Index -100-rises-pound-skids-one-week-low-reports-second-scottish/