13 Oct

Armchair Trader (Link)

• The US equity markets retreated from their fresh all-time intraday highs yesterday to close short of Wednesday’s record closes as earnings season begins in earnest. Accendo Markets analyst, Mike van Dulken noted “All three major US indices closed 0.1-0.2% lower following results from JPMorgan and Citigroup, with the former weighing on the Dow Jones alongside peer Goldman Sachs and UnitedHealth, while the latter weighed on the S&P500 alongside major Telecom names.”

12 Oct

Interactive Investor (Link)

• “Gold has extended its rally overnight as the Federal Reserve, despite pointing towards a December rate hike, noted that weak inflation may not be ‘transitory’ as first thought,” said Michael van Dulken, head of research at Accendo Markets.

11 Oct

Telegraph (Link)

• Today’s flat trading could be the result of investors sitting on their hands before this week’s two highlights on the markets, according to Accendo Markets head of research Mike Van Dulken. He explained: “Investors are perhaps holding out for the latest Fed minutes this evening, for hints on policy outlook. On the other hand they may be awaiting further clarity on the Catalonia vs Madrid situation with PM Rajoy due to speak today. “Or simply waiting for the first of the big US banks to report Q3 results tomorrow to give us fresh signals. The uptrend may have slowed but the bullish bias remains. Watch out for that next catalyst.”

10 Oct

Armchair Trader (Link)

• “Potentially in a corrective phase since record highs in mid-June, BAE Systems shares remain in a 2011 uptrend/rising channel with support around 560p,” says Michael van Dulken, Head of Research at Accendo Markets. “The company delivered a confident update in its latest trading statement with guidance confirmed and more orders for both aircraft and military equipment. However, recent read-across from US cost-cutting on the F-35 project and BAE announcing double the expected 1,000 job losses suggests a perhaps not-so-rosy outlook for defence sector spending and thus capacity requirements.”

9 Oct

Proactive investors (Link)

• Mike van Dulken, Head of Research at Accendo Markets commented: “Political uncertainty continues to dominate, be it stateside, North Korea, Spain or closer to home in Westminster.”