This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Asia: Markets finish mixed, Japanese stocks hit by stronger yen
IFA Magazine – 17 Oct 2014
http://www.ifamagazine.com/news/asia-markets-finish-mixed-japanese-stocks-hit-by-stronger-yen-307461
La Bourse de Londres gagne 0,97%, marché volatil
Les Echos – 17 Oct 2014
http://www.lesechos.fr/finance-marches/marches-financiers/afp-00613675-la-bourse-de-londres-gagne-097-marche-volatil-1054790.php
Financial and energy stocks lift UK 100
Financial Times – 17 Oct 2014
http://www.ft.com/cms/s/0/75b58e62-55d5-11e4-93b3-00144feab7de.html
Is the AbbVie-Shire deal dead? Stock market thinks so
MarketWatch – 15 Oct 2014
http://www.marketwatch.com/story/is-the-abbvie-shire-deal-dead-stock-market-thinks-so-2014-10-15?link=MW_latest_news
Shire Hit as AbbVie Walks Away
CSuite – 15 Oct 2014
http://www.thecsuite.co.uk/CIO/index.php/strategy/116-imagination-technologies-and-arm-holdings-plc-arm-img-54345
Shire takeover off, reckons City
Interactive Investor – 15 Oct 2014
http://www.iii.co.uk/articles/198588/shire-takeover-reckons-city
Shire due $1.64bn if Abbvie pulls out of takeover deal – UPDATE
IFA Magazine – 15 Oct 2014
http://www.ifamagazine.com/news/shire-due-1-64bn-if-abbvie-pulls-out-of-takeover-deal-update-307286
http://www.ifamagazine.com/news/london-open-shire-leads-uk-stocks-lower-as-investors-watch-data-307278
Shire shares crash 28% after AbbVie reconsiders £34bn takeover bid
Guardian – 15 Oct 2014
http://www.theguardian.com/business/2014/oct/15/shire-shares-crash-abbvie-takeover-drug-us-tax-inversion-deal
AbbVie Says It Reconsiders Merger Pact With Shire
Wall St Journall – 15 Oct 2014
http://online.wsj.com/articles/abbvie-says-it-reconsiders-merger-pact-with-shire-1413333589?tesla=y&mg=reno64-wsj&url=http://online.wsj.com/article/SB10726370734953843324504580215053019388946.html
UK Index Keeps Losses After Jobs Report
WBP Online – 15 Oct 2014
http://wbponline.com/Articles/View/37008/UK Index -keeps-losses-after-jobs-report
Stocks: 4 things to know before the open
CNN – 15 Oct 2014
http://money.cnn.com/2014/10/15/investing/premarkets/
London open: Shire leads UK stocks lower as investors watch data
Digital Look – 15 Oct 2014
http://www.digitallook.com/cgi-bin/dlmedia/news.cgi?username=&ac=&view=full&story=22136246
Shire shares dive 26% as AbbVie looks set to abandon £32billion drugs merger after US tax crackdown
This is Money – 15 Oct 2014
http://www.thisismoney.co.uk/money/markets/article-2793648/shire-shares-dive-26-abbvie-looks-set-abandon-32billion-merger.html
Shire Better With AbbVie Than With Breakup Fee — Market Talk
Dow Jones – 15 Oct 2014
Shareholders in Shire PLC (SHP.LN) must be doing a double-take this morning with shares trading back at mid-June levels. They are falling after AbbVie (ABBV) announced that it was reconsidering a $54 billion merger with Shire in light of last month’s U.S. rule changes to discourage “tax inversion” deals. Shire says AbbVie should proceed with the deal, since it will have to pay a $1.6 billion break fee if the deal collapses. Mike van Dulken head of Research at Accendo Markets said that while AbbVie will have to pay a handsome fee, “that’s far from compensation for the GBP10 billion market cap gains (40% share price rise) which many considered to be in the bag with the deal set to close in Q4.” Mr. van Dulken says “beware the fallout” if the deal falls apart.
Shire due $1.64bn if Abbvie pulls out of takeover deal
London South East – 15 Oct 2014
http://www.lse.co.uk/sharecast-news-article.asp?ArticleCode=22135984&ArticleHeadline=Shire_due_164bn_if_Abbvie_pulls_out_of_takeover_deal
Burberry leads UK 100 lower
Financial Times – 14 Oct 2014
http://www.ft.com/cms/s/0/20b56c48-5378-11e4-8285-00144feab7de.html
Burberry Shares Roiled on Management Caution — Market Talk
Dow Jones – 14 Oct 2014
Shares in Burberry (BRBY.LN) trade 4.3% lower at 1415p as shareholders react to management caution on profits due to a ‘more difficult external environment,’ according to Mike van Dulken at Accendo Markets. “We assume (this) relates to concerns about the global economy, given softer growth from the likes of China and Europe seen hitting the Wholesale segment hard in H2, and the recent impact of Ebola on travel plans/consumption. While FX headwinds had been flagged, much of any recent respite may be offset by today’s profit worries.” ([email protected])
Luxury groups Burberry, Mulberry shaken by outlooks
AFP – 14 Oct 2014
http://www.afp.com/en/news/luxury-groups-burberry-mulberry-shaken-outlooks
Mulberry and Burberry lag in luxury on sales and profit
Telegraph – 14 Oct 2014
http://www.telegraph.co.uk/finance/newsbysector/epic/brby/11161233/Mulberry-and-Burberry-lag-in-luxury-on-sales-and-profit.html
Burberry share price slips despite strong results
Your Money – 14 Oct 2014
http://www.yourmoney.com/your-money/news/2375444/burberry-share-price-slips-despite-strong-results
Waning consumer appetite for pricey clothes and handbags hits shares in luxury brands Burberry and Mulberry
This is Money – 14 Oct 2014
http://www.thisismoney.co.uk/money/markets/article-2792062/burberry-mulberry-waning-consumer-appetite-luxury-goods.html
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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