15 Jul

Digital Look

• Accendo Markets’ Augustin Eden said: “The subject of terrorism is sure to dominate headlines today, with attention also sure to focus on what this means for the evolving shape of the political landscape in France and the US (Le Pen, Trump sure to gain more support), not to mention how the UK views this in light of having just voted to leave the EU.”
• http://www.digitallook.com/news/market-report-europe/europe-open-stocks-slip-after-nice-terror-attack–1516078.html

14 Jul

Reuters

• “Augustin Eden at Accendo markets commented: ‘There’s been precious little time and even less UK economic data since the Brexit vote, so how could anyone possibly gauge its effect on the economy to the extent that one could make a reactionary decision on monetary policy right now?  It is of course true that the direct manipulation of interest rates isn’t the only weapon in a central bank’s arsenal and we’ve already had a load of QE, which has got us to where we are now: inflated stock markets that have little causal relationship with the actual economy.  Once all other options are exhausted, something we’re no closer to today but may well be three weeks from now, the world’s central banks may have to consider simply distributing money to the people either direct or via the funding of government tax cuts.’ “

• http://uk.reuters.com/article/uk-britain-boe-reaction-idUKKCN0ZU1BU

13 Jul

Yahoo Finance

• “Equity markets are hovering around break-even… taking a little breather from their recent uptrend after US bourses made fresh all-time highs, the UK prepares for a changing of the guard and investors get excited about more monetary and fiscal stimulus to foster economic growth and counter myriad headwinds,” Mike van Dulken, head of research at Accendo Markets, said in note to clients.
• https://uk.finance.yahoo.com/news/european-stocks-edge-higher-103246894.html

12 Jul

Reuters

• “We could keep rallying, helped by more stimulus from the BoE and some welcome political stability,” said Mike van Dulken, head of research at Accendo Markets, “But as we get more of an idea of what Brexit means, the jitters may usher us back lower again.”
• http://uk.reuters.com/article/uk-britain-stocks-poll-idUKKCN0ZS19X

11 Jul

CityWire

• ‘Equity markets continue to ride north helped by a US jobs report seen to quell fears about a US economic downturn and jobs market weakness, without fuelling fears about a Fed rate hike waiting in the wings,’ said Mike van Dulken, head of research at Accendo Markets. ‘And with the Bank of England set to crank up stimulus this week with a rate cut and/or more quantitative easing to counter Brexit uncertainty, markets are welcoming with open arms the prospect of global monetary policy staying accommodative for a good while longer.’

• http://citywire.co.uk/money/UK Index -rallies-and-pound-falls-on-rate-cut-hopes/a93183

Reuters

• “Investor appetite for risk and hunger for outperformance is being nourished by miners and financials, accompanied by continued rebound by those Brexit-battered housebuilders,” Mike van Dulken, head of research at Accendo Markets, said. “The Bank of England is also set to turn up the stimulus dial this week after several years of inaction.”
• http://uk.reuters.com/article/uk-britain-stocks-idUKKCN0ZR0N2