5 Jan

Digital Look (Link)

• Mike van Dulken, head of research at Accendo Markets, said: “The shares had been topping out since Wednesday, following a 25% 6-week rebound. The real driver for this morning’s down move may in fact be last night’s news of a delay to the UK defence review while solutions are sought for a £20bn funding black hole at the MoD, and amid political backlash since the internal appointment of chief tory whip Gavin Williamson as defence secretary.”

  He added: “Technology is key in light of increased cyberwarfare and online threats and will only add to sector players’ uncertainty about future spending. Note peer shares weak, down up to 1.5%, but ULA is underperforming markedly. Perhaps due to its links with both defence and aviation, the latter now extremely technology reliant.”

4 Jan

Proactive Investors (Link)

• The technical analysts believe the Footsie could stride decisively higher if it is able to punch through 7,700. “[This should] open the door to the channel ceiling around 7,750,” said Mike van Dulken of Accendo Markets. “Bears require a break below 7,660 if they want to revisit late-December lows of 7610.”

3 Jan

Financial Times (Link)

• “Global equities are generally positive as investors calmly digest the impact of the vast Mifid II regulation taking effect across the globe, while trading volumes gradually return following the new year,” said Mike van Dulken of Accendo Markets. “German stocks are outperforming as the US dollar rebounds from its lows, denting euro strength to aid the region’s exporting names.”

2 Jan

CNN Money (Link)

• “Crude oil prices have rallied to fresh two-and-a-half year highs as political tensions in OPEC member Iran have boosted prices overnight,” explained analysts at Accendo Markets.