20 May

Marketwatch 

• Friday’s advances arrived “as concerns about U.S. rate-hike timing following the release of the latest [Fed minutes] ease into the end of what has been an exciting, yet volatile, week,” said Accendo Markets analysts in a note.
• (http://www.marketwatch.com/story/UK Index -100-bounces-higher-as-fed-effect-fades-2016-05-20)

Telegraph

• Mike van Dulken, of Accendo Markets, said: “The positive opening call comes as Asian bourses post gains that contrast stateside losses. This comes as concerns about US rate hike timing following the release of the latest Fed FOMC minutes ease into the end of what has been an exciting yet volatile week. A strong USD settling to allow commodities (notably Oil ) regain composure.” 
• (http://www.telegraph.co.uk/business/2016/05/20/UK Index -100-recovers-from-sharp-sell-off-ahead-of-g7-meeting/)

Business Insider

• In an email sent to Business Insider just before the open, Accendo Markets’ Mike van Dulken, said (emphasis his):
• Asian bourses post gains that contrast stateside losses. This comes as concerns about US rate hike timing following the release of the latest Fed FOMC minutes ease into the end of what has been an exciting yet volatile week. A strong USD settling to allow commodities (notably Oil) regain composure.
• A weaker Yen thanks to Dollar stability and a bounce by Gold easing safehaven seeking that had favoured the far East currency (while the rate-sensitive yellow metal fell) is helping Japan’s Nikkei – exporters in particular. Energy names are more buoyant via the oil price recovery. The Aussie ASX is benefiting from commodities finding their feet on a calmer US dollar.
• (http://uk.businessinsider.com/european-stocks-on-friday-may-20-2016-5/?r=US&IR=T#p6KHMmPGqChxtgAC.97)

19 May

Telegraph

• Mike van Dulken, of Accendo Markets, said: “Equity markets are approaching major support as the fallout from last night’s Fed minutes saw markets price in an increased likelihood that June sees Yellen & Co. hike rates again in June. The resulting stronger USD is hurting the important UK Index  commodities space, notably oil, which is weighing heavily on the index, while defensive high yielding stocks look less attractive for income seekers should rates rise again.” 
• (http://www.telegraph.co.uk/business/2016/05/19/UK Index -100-skids-as-hawkish-fed-minutes-stoke-june-rate-hike-fears/)

18 May

This is Money

• Mike van Dulken, at Accendo Markets, said: ‘The negative opening call is a result of a negative US close which has weighed on Asian trading overnight after some solid US data and a trio Fed speakers struck a surprisingly hawkish tone in terms of rate rise probability for June.‘
• (http://www.thisismoney.co.uk/money/markets/article-3596274/UK Index -LIVE-Footsie-led-lower-Burberry-weak-UK-jobs-data-talk-rate-hike-June-add-investor-woes.html)

17 May

Guardian

• Mike van Dulken of Accendo Markets says oil is: ….benefitting from a bullish outlook upgrade from Goldman Sachs as well as more supply disruptions stemming from equipment failure and political squabbles in places like Nigeria and Venezuela – both major producing nations.
• (https://www.theguardian.com/business/live/2016/may/17/oil-50-uk-us-inflation-report-business-live

CityWire

• ‘Shares in UK Index banks are doing well this morning as investors breathe a collective sigh of relief that results from a long-awaited 19-month investigation by the CMA competition watchdog weren’t more drastic,’ said Mike van Dulken, head of research at Accendo Markets. ‘A requirement to cap unauthorised overdraft fees and join a price comparison website to give customers better service and facilitate switching is being considered pretty much a let-off by traders who had been on alert for some more radical and sweeping reforms.’
• (http://citywire.co.uk/new-model-adviser/news/taylor-wimpey-leads-UK Index -higher-on-dividend-bonanza/a911210)

16 May

This is Money

• Mike van Dulken and Augustin Eden at Accendo Markets said: ‘China data delivered misses across the board for Industrial Production, Retail Sales and Fixed Asset Investment which suggests a surprise loss of momentum adding weight to arguments that the economy is slowing and struggling amid transition from exporter to consumer. This may prove a hindrance for mining equities today demand for whose wares will be seen as reduced.’ They added: ‘On account of the Whit Monday Holiday some EU markets are closed which means no data until the afternoon when we get updates on US Empire State Manufacturing and NAHB Housing, the former seen pulling back while the latter edges higher – supportive of Friday’s jump in consumer confidence.’
• (http://www.thisismoney.co.uk/money/markets/article-3592417/UK Index -LIVE-Footsie-reverses-Friday-s-rally-drop-stocks-despite-recovery-Asian-markets-oil-price-bounce.html)