2 Sept

Reuters

• “The fact that things have gone up a little bit this morning is probably a signal that investors are hoping that we won’t get a rate hike in September and they’ll have a bit longer to enjoy lots of cheap money,” Augustin Eden, research analyst at Accendo Markets, said in a note. Healthcare company Hikma (HIK.L) was the top gainer, up 2.8 percent, joined by Smith & Nephew (SN.L) and utility companies National Grid (NG.L) and Severn Trent (SVT.L). “They’re good defensive, good dividend payers … people are positioning themselves into less volatile stocks just ahead of what could be a pretty volatile month in the markets,” Accendo Markets’ Eden said.
• http://uk.reuters.com/article/uk-britain-stocks-idUKKCN118101/

1 Sept

Marketwatch

• The “data [are] suggesting irregular growth in the Far East/down under, but [markets] appear focused on it being almost two years since both China’s official and private PMI manufacturing prints were above 50,” said Accendo Markets analysts Mike van Dulken and Augustin Eden in a note.
• http://www.marketwatch.com/story/UK Index -100-steps-higher-as-miners-get-a-boost-from-china-2016-09-01

31 Aug

Telegraph

• Mike van Dulken, of Accendo Markets, said: “Called to open slightly offside, equity market sentiment is being driven by US losses and another mixed session in Asia overnight. USD strength derived from increased odds of a Fed rate rise continues to weigh on the key commodity space (Oil, Metals, Miners, Energy). Australia’s ASX is thus underperforming although we note raw material prices off their worst levels. In contrast, a weaker JPY (August highs for USD/JPY) is helping Japan’s Nikkei, especially its currency-sensitive exporters.”
• http://www.telegraph.co.uk/business/2016/08/31/UK Index -100-stumbles-and-pound-hovers-at-131-as-investors-eye-euroz/

30 Aug

Guardian

• Mike van Dulken, head of research at Accendo Markets, said: “Holding back the [mining] sector are two drivers. The first is technicals after major breakdowns in the prices of key raw materials iron and copper, both barometers of global growth. The second is a stronger US dollar (3-week highs and still rising) which makes the latter more expensive. This is a product of Fed Chair Janet Yellen’s Jackson Hole speech last Friday, one which saw her accomplish the difficult task of offering something for both the doves and hawks on monetary policy watch. The fact that US markets closed only marginally lower on Friday and posted gains last night suggests an absence of panic about another rate rise. Markets appear to be increasingly coming round to the prospect of another US rate hike this year.
• https://www.theguardian.com/business/marketforceslive/2016/aug/30/UK Index -flat-as-mining-shares-weigh-but-primark-owner-abf-jumps-2