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Accendo Press Quotes – Week Ending 6 July 2018
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Friday, 6 July
- Mike van Dulken of Accendo Markets says Beijing is “teasing the markets” by delaying its response to America’s move, making it clear that the US fired the first shots.
Thursday, 5 July
- “Full-year guidance [from AB Foods] remains unchanged but traders are clearly taking this with a pinch of sugar,” said Mike van Dulken, head of research at Accendo Markets.
- https://uk.reuters.com/article/uk-britain-stocks/optimism-in-trade-dispute-lifts-UK Index -ab-foods-weighs-idUKKBN1JV13B
Wednesday, 4 July
- “Could it be that a two-pronged ASDA/Argos strategy changes Sainsbury’s fortunes?” asked Accendo Markets head of research Mike van Dulken.
Tuesday, 3 July
This is Money
- Mike van Dulken, Head of Research at Accendo Markets commented:‘Today’s admission [from McBride] comes after weaker than expected sales in May and June, despite increasing volumes in the final quarter. ‘Matter were made worse by higher distribution/warehousing costs and inefficiencies. Disappointing sales on higher volumes with higher costs: not a good recipe for profitability.’
- http://www.thisismoney.co.uk/money/markets/article-5912339/UK Index -LIVE-ITVs-Adam-Crozier-joins-ASOS-KPMG-faces-probe-Conviviality-collapse.html
Monday, 2 July
- Michael van Dulken, head of research at Accendo Markets, said: “The likelihood is that today’s announcement [Sainsbury deal with Carrefour] is focused more on protecting wafer thin margins than benefiting consumers, knowing that brand loyalty is strong. These are companies after all. And publicly listed. In which case fiduciary duty is to stakeholder/shareholders, rather than consumers. “The timing and geographical proximity of the parties involved, however, is not lost on us as the UK edges closer to what could prove a highly disruptive Brexit. It is highly likely that today’s news is fuelled by fears of what Brexit might do to cross-channel trade and finely tuned supply chains, especially in terms of perishables like fresh food.”
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Prepared by Michael van Dulken, Head of Research