23 March

Proactive Investors

• Mike van Dulken, head of research at Accendo Markets, commented: “With markets expecting the UK’s Bank of England to hike in May to temper inflation, the UK allegedly close to a Brexit transition deal, and President Trump keeping the USD on the back foot with his protectionist approach, investors are also factoring in even more upside for GBP/USD.  “A break above 2018 highs would extend the FX pair’s damaging reversal from Brexit lows, eroding what was a nice translational benefit in the wake of the referendum.” He noted: “Shares off their lows, but not without a bearish test of Nov 2016 support at 1365p, meaning there could be more downside towards Aug/Sept 16 lows of 1330p. “In terms of share price recovery potential, the risk is that the 1445p highs of the day, which correspond with breached Dec support, will now become meaningful resistance.”
• http://www.proactiveinvestors.co.uk/companies/news/193695/smiths-group-shares-drop-as-engineers-first-half-profit-revenue-falls-but-reiterates-2018-guidance-193695.html

22 March

This is Money

• Mike van Dulken, head of research at Accendo Markets, said: ‘As with many other retailers (and indeed corporates) of late […] it has fallen foul of its outlook statement, with management anticipating trading conditions will remain challenging across many of its global markets. ‘More cautious investors are clearly not prepared to look through this observation, for fear of it actually sugar-coating what could be a worsening in recent trading conditions. After all, the message from the high street this week was hardly one of optimism.  ‘And as much as growth levels are handsome double-digits (retail, wholesale, internet and licensing), there also a worry that GBP’s recent climb is eroding what has been a rather helpful FX boost.’

• http://www.thisismoney.co.uk/money/markets/article-5530645/Ted-Baker-sees-profits-jump-higher-warns-spring-

21 March

Reuters

• “The Fed meeting is really the big event of the day. What we’re looking out for most is the forward guidance … it’s how the accompanying statement is worded, whether it proves particularly hawkish, whether policymakers are guiding towards four rate hikes this year as opposed to three,” said Henry Croft, research analyst at Accendo Markets.

• https://www.reuters.com/article/us-europe-stocks/trade-war-worries-weigh-on-european-shares-ahead-of-fed-idUSKBN1GX0TV

20 March

Evening Standard

• De La Rue posts results next month and Accendo Markets’ Mike van Dulken said the lack of detail in today’s statement was “even more intriguing”.

• https://www.standard.co.uk/business/city-shocked-as-moneyman-quits-moneymaker-de-la-rue-a3794366.html

 19 March

London South East/Sharecast

• The big players may still take a hit, however, said Mike Van Dulken at Accendo Markets, but through their power of marketing ingenuity and ability to innovate is quite likely to make up for, if not offset, the loss. He noted that Paddy Power Betfair is the odd one out of the three London-listed bookies, having been vocal about more severe curbs, “suggesting the segment is less important for it”.

• http://www.lse.co.uk/sharecast-news-article.asp?ArticleCode=27209397&ArticleHeadline=Relief_for_bookies_over_gambling_machines_reports