5 Aug

Telegraph

• Augustin Eden, of Accendo Markets, said: “A positive opening call for European equity markets comes after the Bank of England threw the kitchen sink at what is after all only a potential post-Brexit economic downturn. Even though it hasn’t happened yet, sentiment indicators are telling us it probably will.  Fitch has noted that the BoE’s actions are a ‘proactive’ step but will only soften the impact of Brexit (which is still a thing) rather than offset it.”
• http://www.telegraph.co.uk/business/2016/08/05/UK Index -100-to-open-higher-rbs-makes-a-loss-and-william-hill-closes/

4 Aug

Marketwatch

• “Clearly there’s a worry that, even if we do get a 25bp rate cut from the BOE, that in itself may not be enough to endow markets with enough confidence to consign a post-Brexit recession to history before it’s even happened!,” said Augustin Eden at Accendo Markets in a note titled “It’s the kitchen sink or nothing”.

• http://blogs.marketwatch.com/thetell/2016/08/04/live-blog-bank-of-england-expected-to-cut-interest-rates-on-super-thursday/

Business Insider

• This is the one good reason why the Bank of England shouldn’t cut rates today – by Mike Van Dulken, Head of Research at Accendo Markets
• http://uk.businessinsider.com/why-the-bank-of-england-should-think-about-leaving-interest-rates-unchanged-2016-8

Guardian

• Augustin Eden, research analyst at Accendo Markets, says traders are wondering how aggressive the Bank [of England] will be today: “Official forecasts are now for a 25bp interest rate cut and no change in the central bank’s QE programme. However many are saying the BoE should throw the kitchen sink at what might after all turn out to be a post-Brexit economic recession, before it happens.”
• https://www.theguardian.com/business/live/2016/aug/04/bank-of-england-interest-rates-stimulus-inflation-report-business-live

Telegraph

•  Augustin Eden, of Accendo Markets, said: “​A lukewarm opening call for European equities follows a positive session in Asia in which the Nikkei has found respite from a break in the Yen’s strengthening trend. US markets closed higher overnight with the Dow snapping a 7-day losing run. Gains led by the financial and energy sectors after the oil price spiked up on a welcome bit of stockpile data that showed distillate inventories finally easing back – more than expected at that. Mixed US macro data has had a negligible effect on Stateside bourses.”
• http://www.telegraph.co.uk/business/2016/08/04/super-thursday-markets-brace-for-bank-of-england-interest-rate-c/

3 Aug

City A.M.

• Augustin Eden, research analyst at Accendo Markets said investors “shrugged off a disappointing trading update” as Next’s share price rose after the announcement – at time of writing, the share price had risen 3.90 per cent to 5,330p
• http://www.cityam.com/246776/nexts-share-price-riding-high-after-its-trading-update-but

Telegraph

•  Augustin Eden, of Accendo Markets, said: “A flat open for European equities comes following a negative session in Asia as markets get a spot of indigestion following a disappointing tasting menu of economic stimulus measures from the Bank of Japan. This adds to the recent mistrust in Central Banks following a spate of ‘disappointments.’ The Aussie ASX is down despite an RBA rate cut while mainland Chinese markets are holding just above the waterline because, well, it’s China.
• http://www.telegraph.co.uk/business/2016/08/03/UK Index -100-to-open-lower-hsbc-gets-pummelled-and-next-faces-higher/

1 Aug

This is Money

• Augustin Eden, analyst at Accendo Markets, said: ‘Following this morning’s disappointing UK manufacturing PMI, it looks more likely that we’ll get some serious stimulus this week.

  ‘Banks and financials don’t get on well with low interest rates, so the prospect of even lower interest rates is bearish for Bank shares.’

• http://www.thisismoney.co.uk/money/markets/article-3717761/UK Index -CLOSE-Housebuilders-banks-feel-heat-poor-PMI-manufacturing-reading-raises-chance-rate-cut.html

London South East

• “Oil prices are coming back from their weekend highs too, as concerns about global growth kick back in following Friday’s disappointing US GDP estimate (just an estimate though…), not to mention a poor UK manufacturing PMI,” commented Augustin Eden, analyst at Accendo Markets.