Accendo Press Quotes - Week Ending 27 Jan

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Accendo Press Quotes – Week Ending 27 Jan

27 Jan

CityWire

Mike van Dulken said the rally in Tesco shares, bucking the trend for shares to fall when a company announces an acquisition, showed investor confidence in the move. ‘Tesco shares appear to be rallying on the premise that the new group can reinforce its number one grocer slot by becoming the UK’s leading food business, boosting profits by £25 million annually thanks to better growth and sizeable synergies.’
http://citywire.co.uk/money/tesco-soars-on-booker-deal-and-dividend-pledge/a987886

25 Jan

Marketwatch

“This triple record for the three main U.S. bourses can be attributed to financial strength on hopes that the new president will soon set his sights on industry deregulation coupled with fresh strength in materials as he pledges to build that wall,” analysts at Accendo Markets said in a note.
http://www.marketwatch.com/story/us-stocks-set-for-fresh-records-at-the-open-with-dow-plowing-further-above-20k-2017-01-26

25 Jan

Guardian

Mike Van Dulken of Accendo Markets says this strength in base metals is driving the markets up. Copper in particular up on restricted supply (BHP Billiton cut guidance; prolonged strikes could make matters worse) and growth/inflation expectations from US infrastructure spending plans as Trump sticks to his campaign hymn sheet. Aluminium, Iron Ore, Lead and Zinc are all tagging along while Oil holds around $53/55, near the mid-point of a $50-60 range as US production increases challenge OPEC cuts.
https://www.theguardian.com/business/live/2017/jan/25/markets-rise-trump-rally-sp500-nasdaq-brexit-UK Index -aluminium-business-live?page=with%3Ablock-58885758e4b089888761b27c

24 Jan

CityAM

“Last October’s suggestion of a £145m charge didn’t cause too many ripples as regulatory issues and a rising pension deficit hogged the headlines,” noted Mike van Dulken at Accendo Markets. “Today’s admission adds this to these nasty headwinds, especially as it could weigh on profits for the next two years.”
http://www.cityam.com/257681/italian-job-analysts-react-bts-530m-accounting-slip-up

23 Jan

Telegraph

Mike van Dulken, of Accendo Markets, said: “Calls for a negative open stem from a harmful USD sell-off since Friday,inspired by President Trump’s inauguration speech in which he adopted a very nationalist, protectionist rhetoric that risks rocking the globalisation boat and thus spurred safe haven demand. The result is unwelcome strength in peer FX majors like GBP, EUR and Yen which hurts sentiment towards exporters, whose goods are that little bit less competitively priced and international profits now worth that little bit less.”
http://www.telegraph.co.uk/business/2017/01/23/pound-hits-five-week-high-continued-fallout-trumps-inauguration/?WT.mc_id=tmg_share_tw

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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