5 May

CityWire

• ‘For loyal investors it’s a case of small mercies, after 2017 guidance was cut and 2018’s withdrawn so abruptly in January,’ said Mike van Dulken, head of research at Accendo Markets.
• http://citywire.co.uk/money/train-gains-as-pearson-soars-mands-lands-ex-asda-boss/a1013595

4 May

Proactive Investors

• Mike van Dulken, head of research at Accendo Markets, commented: “Even Jan’s equivalent of a corporate lollipop in the promise of more cash returns (four special dividends of 45p/extra 4% yield) is failing to support a share price which has already lost almost 50% in less than 18-months.” He said: “Those of a bullish persuasion may see today’s early management capitulation as an attractive entry opportunity if it is able to upgrade guidance again later in the year.” But van Dulken added: “Bears will merely point to this poor update coinciding with yesterday’s teasing but ultimately failed attempt to overcome 17-month falling highs at 4,370p, merely keeping the long-term downtrend intact.”
• http://www.proactiveinvestors.co.uk/companies/news/177319/out-of-fashion-next-was-once-both-a-city-and-high-street-darling-but-not-anymore-177319.html

3 May

Telegraph

• Henry Croft, of Accendo Markets, said: “Global equity markets are offside this morning in the run up to the US Federal Reserve monetary policy update and the final televised debate of the French election campaign, both this evening, after European macroeconomic offerings failing to inspire. While the former is unlikely to result in a third rate hike in 6 months, it could provide insight into the potential course of hikes during the remainder of 2017; meanwhile the latter sees Le Pen and Macron square off for the final time before Sunday’s second and final round of voting.”
• http://www.telegraph.co.uk/business/2017/05/03/UK Index -100-falters-pound-steadies-129-investors-eye-uk-construction/

2 May

Marketwatch

• “Investors remain bullish as they return from the long weekend, sentiment buoyed by positive PMI manufacturing data from Europe offsetting soft prints from China and underwhelming reads from the U.S. They are also clearly choosing to ignore sound bites from [U.S. President Donald] Trump about breaking up the banks and allegedly frosty Brexit talks between the U.K. and Europe,” wrote Accendo Markets head of research Mike van Dulken.
• http://www.marketwatch.com/story/UK Index -100-advances-with-bp-rising-manufacturing-report-on-deck-2017-05-02