19 Jan

City AM (Link)

• Mike van Dulken and Henry Croft, analysts at Accendo Markets, said the concerns of weak demand and rising supply were putting a dent in recent bullishness. “As a result, global benchmark Brent fell to a 10-day low of $68.50 overnight before finding support, while US crude briefly dipped below $63 before recovering to $63.10,” the analysts said.

18 Jan

Proactive Investors (Link)

• Henry Croft, research analyst at Accendo Markets, said: “Overall, the company has left its guidance unchanged amid a mixed Christmas stocking. “And after a bumper Christmas, proving Primark can maintain sales to offset weakness elsewhere will be a key challenge when it publishes Q2 results in late February.”

17 Jan

This is Money (Link)

• Mike van Dulken, head of research at Accendo Markets, said repeating the firm’s profit guidance appeared to be a ‘failed attempt’ to curry favour with shareholders. ‘When the operational highlights of a trading statement reiterate the multi-year turnaround plan you presented in November alongside an ugly profits warning that ‘margins won’t grow until 2021′, there’s a good chance that the growth figures and outlook will disappoint,’ van Dulken said.

16 Jan

Reuters (Link)

• “It’s certainly not a risk-on rally,” Mike van Dulken, head of research at Accendo Markets, said. “We’re not seeing any real bullish driver to drive us markedly higher, so people are happy to rotate into the more defensive … names, and a lot of them are heavyweights, so that bids up the index,” van Dulken added.

15 Jan

Telegraph (Link)

• Mike van Dulken, an analyst at Accendo Markets said that Melrose’s meetings with GKN investors suggest “it may be looking for the nod from major shareholders to either better the existing offer or take things hostile” He added that opening offers are “rarely what is ultimately agreed” to secure a deal, noting that a 25pc or more premium is usually required to secure control. The harsh criticism of GKN’s management and performance is “clearly aimed at convincing shareholders of GKN management’s failure to deliver value and that better profitability can be had”, Mr van Dulken said.