Accendo Press Quotes - Week Ending 6 July 2018

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Accendo Press Quotes – Week Ending 6 July 2018

Friday, 6 July

Guardian

Mike van Dulken of Accendo Markets says Beijing is “teasing the markets” by delaying its response to America’s move, making it clear that the US fired the first shots.
https://www.theguardian.com/business/live/2018/jul/06/us-china-trade-war-34bn-tariffs-non-farm-business-live?page=with:block-5b3f286be4b0cb7e6f6c1f69#liveblog-navigation

Thursday, 5 July

Reuters

“Full-year guidance [from AB Foods] remains unchanged but traders are clearly taking this with a pinch of sugar,” said Mike van Dulken, head of research at Accendo Markets.
https://uk.reuters.com/article/uk-britain-stocks/optimism-in-trade-dispute-lifts-UK Index -ab-foods-weighs-idUKKBN1JV13B

Wednesday, 4 July

Proactive Investors

“Could it be that a two-pronged ASDA/Argos strategy changes Sainsbury’s fortunes?” asked Accendo Markets head of research Mike van Dulken.
http://www.proactiveinvestors.co.uk/companies/news/200121/argos-starting-to-prove-its-worth-to-j-sainsbury-shareholders-200121.html

Tuesday, 3 July

This is Money

Mike van Dulken, Head of Research at Accendo Markets commented:‘Today’s admission [from McBride] comes after weaker than expected sales in May and June, despite increasing volumes in the final quarter. ‘Matter were made worse by higher distribution/warehousing costs and inefficiencies. Disappointing sales on higher volumes with higher costs: not a good recipe for profitability.’
http://www.thisismoney.co.uk/money/markets/article-5912339/UK Index -LIVE-ITVs-Adam-Crozier-joins-ASOS-KPMG-faces-probe-Conviviality-collapse.html

Monday, 2 July

CityAM

Michael van Dulken, head of research at Accendo Markets, said: “The likelihood is that today’s announcement [Sainsbury deal with Carrefour] is focused more on protecting wafer thin margins than benefiting consumers, knowing that brand loyalty is strong. These are companies after all. And publicly listed. In which case fiduciary duty is to stakeholder/shareholders, rather than consumers. “The timing and geographical proximity of the parties involved, however, is not lost on us as the UK edges closer to what could prove a highly disruptive Brexit. It is highly likely that today’s news is fuelled by fears of what Brexit might do to cross-channel trade and finely tuned supply chains, especially in terms of perishables like fresh food.”
http://www.cityam.com/288518/tesco-announces-partnership-carrefour-heres-city-reacted

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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