20 Jan

Telegraph

• Michael van Dulken at Accendo Markets described the update as “a reverse profit warning, a rare thing” which would leave investors “rightfully pleased with themselves”.
• http://www.telegraph.co.uk/business/2017/01/20/chemicals-group-synthomer-soars-reverse-profit-warning/

19 Jan

Digital Look

• Mike van Dulken at Accendo Markets noted that the share price fall broke rising support at 430p that dates back to October 2014’s all-time lows as “the results do little to appease concerns”. “Parcels remains highly competitive the world over, in some cases intensifying as online shopping volumes climb, encouraging new carriers to fight for share. Current trends mean it’d take a brave soul to offer that ‘things can only get better’, hence cost efficiencies still such a big focus in order to protect margins.” Examining his technical analysis runes, van Dulken noted the shares were yet to test 2016 lows of 413p, but “today’s fall extends a falling channel from 525p last September, one with potential to deliver the shares back to aforementioned lows”.
• http://www.digitallook.com/news/news-and-announcements/royal-mail-revenues-flat-as-christmas-letters-dwindle–2462662.html

18 Jan

AFP 

• “The UK 100 has given up early gains despite the pound continuing to pull back from yesterday’s strong rally, the index hindered by a Pearson profits warning and weakness among miners and financials,” said Mike van Dulken, head of research at Accendo Markets.
• https://www.afp.com/en/news/2266/dollar-recovers-pound-falls-back

17 Jan

Business Insider

• Sterling’s gains in early morning are also being aided by a slew of short covering — where traders buy the pound to cover their short positions against losses — in the markets. As Accendo Markets’ Mike van Dulken writes in his morning commentary email: “This is on the premise that the big news is already out there, and surprises limited, following what must be have been a ‘strategic leak’ of the PM’s Brexit blueprint speech today, one which confirms a clean-break from the EU and suggests a roadmap for Brexit does exist. The leak was clearly designed to offer some clarity (hard Brexit), making up for recent criticism of government muddling and designed to counter recent volatility in the UK currency.”
• http://uk.businessinsider.com/pound-dollar-price-theresa-may-brexit-speech-2017-1?r=US&IR=T

16 Jan

CityAM

• Ahead of Donald Trump’s inauguration this week, gold was trading at $1,201.90 per ounce, on course for its sixth straight session of gains, while the US dollar weakened, analysts at Accendo Markets said.