9 Sept

Telegraph

• Mike van Dulken, of Accendo Markets, said: “A negative open comes as markets continue to digest disappointment that ECB President Draghi didn’t offer more. This likely stems from a combination of his hands being tied for now (things not markedly worse, but not better either) and wanting to see what peers do (BoE, BoJ, Fed) over the next couple of weeks. Another North Korean nuclear test also revived geopolitical concerns, dampening Asian optimism overnight and flowing into Europe’s final session of the week.”
• http://www.telegraph.co.uk/business/2016/09/09/UK Index -100-slides-and-pound-hovers-above-133-as-eurogroup-meets-to/

8 Sept

Telegraph

• Meanwhile, Mike van Dulken, of Accendo Markets, said  the real focus will be on the potential for ECB President Mario Draghi to announce “downward revisions to the bank’s growth and inflation forecasts in light of an ever-struggling Eurozone region, especially following those German misses on Factory Orders and Industrial Production”.
• “Thereafter, ECB-watchers and traders will be listening out for any clues about a firm extension to the current bond-buying programme beyond next March, this in spite of an ever-evaporating pool of available securities. Could we even get more tweaks to the program (yield ceiling, duration, securities) to allow it purchase more in its fight to spur inflation?”
• http://www.telegraph.co.uk/business/2016/09/08/UK Index -100-charges-towards-6900-and-pound-stalls-below-134-as-ecb/

7 Sept

Proactive Investors

• It led Mike van Dulken, head of research at Accendo Markets, to ask: “Could MCS and retirees be the canary in the Brexit mine?” He speculated whether the poor performances could be a delayed reaction to June’s referendum.
• http://www.proactiveinvestors.co.uk/companies/news/163617/barratt-and-redrow-help-housebuilders-recover-swagger-163617.html

6 Sept

CityAM

• “Oil prices staged a short-lived rally yesterday as Russia and Saudi Arabia seemed to signal collaboration in addressing the global supply glut, however markets soon adjusted as the significance of the statement fell short of hopes. Again,” Mike van Dulken, head of research at Accendo Markets, said.
• http://www.cityam.com/248848/brent-crude-heads-back-towards-47-despite-saudi-arabia#r3z-addoor

5 Sept

Proactive Investors

• Mike van Dulken at Accendo Markets said: “it looks to be an oil price spike that is really helping sector sentiment and of course the UK Index heavyweight oiI majors. “The driver remains unclear, but optimism of proper cooperation between Russia and Saudi Arabia may be gaining traction to offset global glut fears ahead of this month’s much hyped unofficial OPEC-led production freeze meeting in Algeria. We’ve been here before though.”
• http://www.proactiveinvestors.co.uk/companies/market_reports/147674/UK Index -100-up-7-points-after-us-jobs-report-147674.html

Investing.com

• “Iran remains a potential spanner that could yet throw itself into the works. It’s between a rock and a hard place, needing to appear on-board with the talks whilst simultaneously insisting on having the right to further increase output post sanctions, all the while not wanting to dent prices for everyone. Not an easy balance to strike,” said Mike van Dulken, at Accendo Markets.
• http://www.investing.com/analysis/oil-retreats-after-price-freeze-doubts-200151837