Accendo Press Quotes - Week Ending 9 Dec

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Accendo Press Quotes – Week Ending 9 Dec

8 Dec

Financial Times

Mike van Dulken, head of research at Accendo Markets, said the profits warning was “an unwelcome early Christmas present”. “Shrinking the group may well lead to long-term improvements in profitability, but it also means more restructuring and more exceptional costs in the quarters to come. Further government-inspired Brexit uncertainty and clients shying away may also even mean that further profits warnings can’t be excluded either.”
https://www.ft.com/content/ec0ab330-bd16-11e6-8b45-b8b81dd5d080

7 Dec

Reuters

“More fiscal [stimulus] is expected in Europe thanks to Trump, hopefully in the UK too,” said Mike van Dulken, head of research at Accendo Markets.”
http://uk.reuters.com/article/uk-britain-stocks-poll-idUKKBN13W19K?il=0

6 Dec

Telegraph

“Mike van Dulken, of Accendo Markets, said: “A lacklustre European open comes in spite of a positive Asian session which echoes gains on Wall St. Advances by big Bank and commodity names are derived from relief at the absence of post-referendum turmoil in Europe (so far) coupled with a weaker USD giving a boost to metals prices and Brent Crude Oil, the latter testing $55 for the first time since July 2015. “Italian Prime Minister Renzi has agreed to put off his resignation until the nation’s 2017 budget has been approved, reducing the risk of snap election and another populist backlash. Contagion fears also eased by suggestions of a weekend state bailout of Banca Monte dei Paschi di Siena due to concerns that a €5bn recapitalisation is at risk by the withdrawal of a key participant.”
http://www.telegraph.co.uk/business/2016/12/06/UK Index -100-falters-spread-betting-firms-plunge-30pc-city-watchdog/

5 Dec

Marketwatch

“The ECB meeting on Thursday provides a window for the central bank to act swiftly to prevent any significant damage to the Italian economy with expectations for Mario Draghi et al to extend the current QE policy with a particular focus on Italian government bonds,” said Henry Croft, research analyst at Accendo Markets, in emailed comments.
http://www.marketwatch.com/story/the-other-loser-in-italys-vote-its-big-banks-2016-12-05

This research is produced by Accendo Markets Limited. Research produced and disseminated by Accendo Markets is classified as non-independent research, and is therefore a marketing communication. This investment research has not been prepared in accordance with legal requirements designed to promote its independence and it is not subject to the prohibition on dealing ahead of the dissemination of investment research. This research does not constitute a personal recommendation or offer to enter into a transaction or an investment, and is produced and distributed for information purposes only.

Accendo Markets considers opinions and information contained within the research to be valid when published, and gives no warranty as to the investments referred to in this material. The income from the investments referred to may go down as well as up, and investors may realise losses on investments. The past performance of a particular investment is not necessarily a guide to its future performance. Prepared by Michael van Dulken, Head of Research

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