30 Sept

Business Insider

• Mike van Dulken, head of research at Accendo Markets, dubbed the lender “Douche Bank” in a note on Friday morning titled “Douche Bank taking a bath.” (That’s a reference to the French word for shower, but it has an obvious pejorative meaning in English, too.) Van Dulken says that Deutsche Bank’s woes “only adds to already dampened risk appetite as investors came to realise what an OPEC ‘deal’ actually means.”
• http://uk.businessinsider.com/10-hedge-funds-pull-business-from-deustche-bank-shares-dive-september-30-2016-9

29 Sept

Digital Look

• Analysts Mike van Dulken and Henry Croft at Accendo Markets said: “On the face of it, a step in the right direction from OPEC, with Saudi Arabia importantly ceding ground. However, digging down it’s merely an intention to agree something concrete further down the line. Details on who will cut and by how much are distinctly lacking and only likely to surface end-November. Plenty of work still to do and enough time for a supposed ‘deal’ to be scuppered.“Forgive our scepticism but a 250K to 750K barrels per day production cut is at most a 2% cut that leaves OPEC output close to its current record highs of 33m/day. And with non-OPEC still pumping strong, very little has thus been done to counter the global supply glut. Unless of course we can be sure that even more cuts (OPEC & Non-OPEC) are in the pipeline to rebalance an oversupplied market.”
• http://www.digitallook.com/news/market-report-opening/london-open-stocks-rise-as-investors-mull-opec-deal–1732598.html

28 Sept

Proactive Investors

• Accendo Markets head of research Mike van Dulken said: “ Positive observations from the UK and Germany in spite of Brexit are helping offset weakness in destinations such as Turkey and Egypt where security fears weigh. “Fortuitously, less exposure to such regions has played in its favour with rival Thomas Cook Group only able to reiterate guidance (which it had to downgrade in July) earlier this week.”
• http://www.proactiveinvestors.co.uk/companies/news/166607/tui-sees-higher-profits-despite-turkey-woe-166607.html

27 Sept

Telegraph

• Mike van Dulken, of Accendo Markets, attributed the positive opening call to the victory for Clinton in the first of three US presidential debates.
• ” Not so much for her own performance, more because rival Trump failed to keep his cool and/or appear more presidential as many had expected. It’s still early days. Trump could be setting the bar low for the remaining face-offs. And he does have a bouncebackability that has already helped his campaign get within touching distance of the oval office.”
• http://www.telegraph.co.uk/business/2016/09/27/UK Index -100-rebounds-and-mexican-peso-surges-as-markets-award-round/

26 Sept

CityWire

• Mike van Dulken, head of research at Accendo Markets, said investors were jittery, ‘not knowing which Trump will turn up and how Hillary fares in front of her bitter rival’.
• http://citywire.co.uk/money/UK Index -falls-as-investors-eye-us-presidential-debate/a952823