Mike van Dulken - Accendo Markets

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Last quote by Mike van Dulken

Equities are nursing losses thanks to an unwelcome escalation in geopolitical tensions between the US and North Korea, both trading nuclear threats that have awoken volatility from its slumber and seen risk assets shunned in favour of the traditional safe havens.feedback
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Aug 09 2017 North Korea
Mike van Dulken has been quoted 92 times. The one recent article where Mike van Dulken has been quoted is Live FTSE 100 rebounds into positive territory; oil holds gains following OPEC meeting. Most recently, Mike van Dulken was quoted as having said, “It may provide some clarity on the outlook for further rate hikes in light of recent poor inflation data, and investors are eager to know more about the timing of its balance sheet unwind, however, Yellen may again only offer crumbs with which we can ponder for the rest of the summer.”.
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Mike van Dulken quotes

Jun 16 2017 - Greece

Forecasts are for May price increases to have fallen back negative (-0.1pc vs April 0.4pc), while the annual pace for both headline (1.4pc vs 1.pc prev) and core (0.9pc vs 1.2pc prev) are confirmed sharply slower, highlighting the ECB's woes in regaining its 2pc regional inflation target.feedback

Jun 13 2017 - Oil

A positive European open comes in spite of another weak finish stateside. Tech remains on the back foot, although the sell-off showed signs of easing on Asian bourses. Despite choppy trading these are largely positive, helped by expectations of a Fed rate hike tomorrow and buoyancy in commodities, oil up and metals sidestepping. GBP and EUR weakness continue to help both the FTSE and DAX amid political excitement on both sides of the channel.feedback

May 26 2017 - OPEC

A flat opening call comes after more record highs on Wall St and despite a negative session to close the weak in Asia. The FTSE outperforms peers thanks to overnight GBP weakness that helps offset oil prices -6% as traders are left underwhelmed by the OPEC decision. The negative oil reaction to a 9-month OPEC production cut extension is a prime example of 'buy the rumour, sell the fact'. With nine months having become the baseline - prices +17pc in the run-up, hoping for longer and maybe even deeper cuts - potential for an upside surprise was already limited.feedback

May 24 2017 - OPEC

A mildly positive opening call comes as investors weigh up Moody's credit downgrade for China on debt sustainability concerns, a lukewarm reception for Trump's first budget (does it all add up?) as well as rising optimism ahead of tomorrow's OPEC meeting (especially after more favourable US inventory data) and news of potential M&A in the soft commodity sector.feedback

May 23 2017 - Greece

A flat opening call comes as Asian markets react cautiously to yet another terror event, this time in Manchester. This latest horror merely adds to a melting pot of UK frustration as the country deals with ugly election campaigning before a June 8 snap general election and what is sure to be even uglier Brexit negotiations that begin just weeks after. The UK FTSE is holding up for the moment thanks to fresh GBP weaknessas the US Dollar finds support following its Trump-induced sell-off.feedback

May 22 2017 - Wall Street

A positive opening call comes after a Wall Street relief rally on Friday suggested investors putting last week's political chaos behind them. Asian counterparts have also made a solid start to the week, buoyed by continued optimism towards Oil and Thursday's OPEC meeting delivering a production cut extension and a hitherto un-eventful Trump visit to the Middle East.feedback

May 19 2017

A positive opening call comes after US bourses found their mojo last night, recovering some of their recent losses. Asian investors have also largely progressed overnight, but sentiment still retains a cautious bias in response to recent political turbulence, not just on the UK but in Brazil too. How equities close today will be telling as to investor confidence about holding risk over the weekend.feedback

May 18 2017 - Brexit

This could just be an attempt to extend what is a very familiar M&A dance and eke out an even better offer for shareholders, but it would surely be a case of three strikes and you're out. The question now is whether the shares can break above Brexit-induced lows of £11.30 and whether it is a third attempt from Elis that helps deliver it.feedback

May 17 2017 - American politics

A negative opening call comes after risk appetite was dealt a blow overnight by claims that US President Trump may have tried to coerce ex-FBI Director Comey into dropping the probe into Gen. Flynn's. This adds to a darkening cloud of controversy and disarray hovering over the White House. It also means more questions about the administration's ability to garner enough Republican, let alone bipartisan support, for the policy pledges for which investors are growing increasingly impatient.feedback

May 10 2017 - Trump Presidency

A slightly negative opening call comes after a mixed US finish (Nasdaq record closing high; S&P intraday high) and despite gains in Asia overnight amid still exceptionally low volatility. Note Trump throwing another spannerin the works, however, by firing FBI director Comey, begging questions about his impartiality towards ongoing investigations. This could impact approval of the stimulus policy markets are hankering after.feedback

May 08 2017 - French election 2017

A positive opening call comes as markets breathe a sigh of relief and welcome a Macron victory in France, while oil holds its bounce, however, optimism is tempered somewhat by the outcome having been largely expected and China trade data spoiling the party overnight, adding to last week's disappointing PMIs, putting metals prices under pressure again.feedback

May 05 2017 - OPEC

A negative opening call comes after oil took yet another leg lower on heightened concerns about global oversupply, whether OPEC and Russia can agree to extend production cuts this month to offset rising US production. Off their worst overnight levels, much damage has been done, with 9-month Oil price uptrends and 2017 lows meaningful breached.feedback

May 05 2017 - OPEC

Negative sentiment has perhaps been tempered by Trump claiming a small victory in getting his healthcare bill through the House of Representatives (just; tight vote). While this is a step towards tax reform and other stimulus, Senate approval is sure to prove tricky and could prove a bridge too far in terms of concrete legislative approval for the new President.feedback

May 03 2017 - Nigeria

Australia's ASX is down almost 1pc as miners are hurt by fresh China jitters putting base metals prices back into reverse while precious metals remain under pressure. Energy took another hit from global oversupply concerns although a US API inventory drawdown has brought prices off their lows as has some positive OPEC extension comments from Nigeria.feedback

May 03 2017 - IPhone

A negative opening call comes after losses in Australia and China (Japan + Hong Kong closed) overnight and in spite of a positive US finish (another Nasdaq record). Sentiment has been impacted by apprehension ahead of the Fed's latest update and Apple shares trading lower after hours on news of slowing iPhone sales. Another leg lower for oil hasn't helped nor base metals turning south again.feedback

May 02 2017 - Greece

Sentiment nonetheless remains biased positive, evident in the Nasdaq Composite posting fresh record highs, the Dow and S&P still close and the VIX volatility index (a.k.a. the fear gauge) at near 10yr lows suggesting an easing of recent geopolitical jitters. This despite Trump saying he wants to look at breaking up the big banks, one of the best performing sectors based on deregulation hopes since the new President was elected.feedback

May 02 2017 - Greece

A positive opening call comes as investors return with optimism from a long weekend in spite of disappointing China PMI prints - Manufacturing falling to a 6/7-month low as the rebound moderates - and a mixed session from the US that flowed to Asia overnight as geopolitical risk keeps simmering.feedback

Apr 20 2017 - French election 2017

Calls for another negative open come after a mixed session on Wall St and in spite of a decent performance in Asia overnight. Blame can be pinned on another drop in oil prices which will likely put another dent in the FTSE via disproportionately influential Oil Majors, with a negative read across for a commodity sector still troubled by lower metals prices and global growth uncertainty. Geopolitics is also keeping market guessing ahead of this weekend's too tough to call first round French presidential election.feedback

Apr 19 2017 - British elections 2017

Calls for a negative open for equities come after losses on Wall St amid mixed corporate results overnight (Yahoo! beat, IBM missed), another leg down for Crude Oil drove a poor session in Asia and additional GBP strength took FTSE futures lower. Copper may be off its worst levels, but remains in a clear downtrend, although a rebound for Iron Ore offers some respite for a commodity sector troubled by scepticism about stimulus; too much in China and nothing to show yet from Trump in the US.feedback

Apr 18 2017 - Wall Street

Calls for a negative open come after a mixed return by Asian investors following the long Easter weekend, at odds with last night's positive close on Wall Street. Geopolitical concerns may be off the boil and safe haven assets off their best, but they continue to simmer be it from a nuclear standpoint on the North Korean peninsula or politically in France and Turkey and across the Atlantic with the US Treasury secretary suggesting Healthcare bill problems will delay tax cuts.feedback

Apr 18 2017

US Industrial Production is seen continuing its rebound from Jan's flirt with contraction to trouble Dec's near 2-year best although Manufacturing may go the other way while Capacity Use improves.feedback

Apr 06 2017

Calls for a negative open come after US markets didn't take too kindly to what they considered overly hawkish Fed minutes suggesting most FOMC policymakers think the US central bank should, later this year, begin trimming the $4.5tn balance sheet it built up during its post-crisis years of QE bond-buying stimulus. While Bonds remained calm, equities reacted to come concerns about stocks pricing in too much optimism related to tax cuts and/or fiscal stimulus.feedback

Apr 06 2017

Markets had been embracing the prospect of further Fed rate hikes this year, assuming these would be accompanied - even driven - by Trump stimulus policy driving stateside economic growth. The idea of the Fed also beginning to cease re-investment of maturing paper, slowly shrinking its asset pile, at the same time as markets question the validity of the 'Trump trade' and deal with plentiful geopolitical risk, has served to spark risk aversion just hours before Trump's his most crucial summit so far.feedback

Mar 31 2017 - South Africa

Calls for a negative open come after a down session in Asia overnight at odds with a positive US finish, the latter benefiting from upward GDP revisions. Market weakness may be explained by an element of risk-off into the week-, month- and quarter-end following one of the best starts to the year since 2013. This despite political risk aplenty, the most recent coming from South Africa. Reassuring China PMI prints (employment best in 5 years) are being largely ignored.feedback

Mar 30 2017 - Oil

Calls for a flat open come after a mixed US close (S&P & Nasdaq up; Dow Jones lower) and a similar showing from Asia overnight. While Australia's ASX benefits from the oil rebound and buoyancy among metals, extending its recent breakout, Japan's Nikkei is failing to derive any benefit from this or a weaker Yen. GBP/USD off its overnight best levels may help UK blue-chips.feedback

Mar 30 2017 - Article 50

After all the fuss about the UK triggering Article 50 yesterday, and opposition to PM May's attempt to link a trade deal with security, focus has reverted to central bank policy outlook. This after media reports the ECB is concerned about misinterpretation of its last message (not hawkish it says), and how it is now reluctant to change its message end-April for fear of adding fuel to the fires of misunderstanding. Note also some optimism about the US administration trying another go at the Healthcare bill next week.feedback

Mar 24 2017

This would appear either fortunate timing for a successful vote tomorrow, restoring confidence in the Trump reflation trade, and a revival of risk appetite come Monday. Either that or an unfortunate result that leads to more questioning about how much Trump will actually be able to deliver on.feedback

Mar 24 2017 - Affordable Care Act

However markets aren't panicking. This is thanks to suggestions that a favourable vote isn't a prerequisite for work to begin on other measures like tax cuts and infrastructure spending. However, it would mean Republicans, who have hated ACA since its 2010 birth, have to accept it will stay. An ultimatum, if you like, setting markets up for a dollop of weekend risk.feedback

Mar 24 2017 - Affordable Care Act

Calls for another flat European open come after last night's US congressional vote on repeal of Obama's Affordable Care Act (ACA) was delayed by 24hrs and US markets a shade lower. This adds to concerns that Trump lacks enough house support (even among Republicans) and that he may struggle to get approval for all the stimulus policies he pledged.feedback

Mar 16 2017 - Oil

Calls for a positive open come thanks to investors ignoring the Fed's rate hike to concentrate on an unchanged outlook. Forecasting just two more hikes this year, markets have digested the policy update as less hawkish than it could have been. A USD sell-off has thus helped Oil and metals extend rebounds, benefiting the likes of dual-listed Miners RIO and BLT down under overnight.feedback

Mar 16 2017

Add to this a rather more palatable Dutch election result than feared and risk appetite has been restored. Markets are being allowed to ponder the potential for less populist French and German political outcomes in the months to come while further US stimulus supports both US growth and Fed policy normalisation, in turn helping global growth.feedback

Mar 09 2017 - British Petroleum

Calls for another negative open come after more losses on Wall St and a mixed bag in Asia overnight. A sharp 5pc drop in oil prices following more big US inventory builds has weighed heavily on Energy which don't forget makes up over 13% of the UK's FTSE index (BP, RDSb), before we even consider the read-across to support/engineering names and the sentiment hit to the Miners.feedback

Mar 09 2017 - Oil

And while oil prices are off their worst levels, sentiment remains hindered even more intense head-scratching about China as overnight inflation prints (surge in producer prices, plunge in consumer prices) added to yesterday's surprise trade deficit. This could revive concern about its economic transition from exporter to consumer (and its debt mountain, stimulus efforts) especially ahead of next week's probable Fed rate hike (100pc priced in).feedback

Feb 02 2017

Reckitt Benckiser makes it a brace of companies whose share prices have defied traditional M&A reaction recently, rising on news of spending big to acquire.feedback

Jan 31 2017

These strong top-line numbers will make incumbent rival grocers and German discounters green with envy, especially when pre-exceptional profits before tax grew strongly, implying significant margin expansion.feedback

Jan 25 2017 - Wall Street

Wall Street looks like it has potential to try for the magic 20,000 record high that has eluded it for so long.feedback

Jan 09 2017

I think the appetite is there to keep (the FTSE) pushing north. The week's earnings are going to provide a boost, I think commodity prices seem to be holding up quite nicely, which is good for the mining. The financials are still buoyed.feedback

Jan 05 2017

This latest positive update from a sector major adds to yesterday's positive UK PMI Construction read and improving mortgage approvals data, while the UK mortgage market remains highly competitive and government initiatives supportive. Although house price data does remain notoriously mixed, the post-Brexit crash foreseen by many simply hasn't materialised and prices held up remarkably well.feedback

Dec 29 2016

Equities are on the back foot on the last full trading session of the year, with investors taking profits and some risk off the table. Miners and financials are in a tug of war with defensives.feedback

Dec 28 2016 - Christmas

We were in a downtrend that started end of November, so if we can call the end to that, that will be good for (the miners).feedback

Dec 23 2016 - Deutsche Bank

(Gains for) Deutsche Bank shares suggests relief at a good result and the affair being closed. Credit Suisse shares flat implies an acceptable deal. Barclays' (fall) indicates some uncertainty about what it eventually ends up paying.feedback

Dec 08 2016 - UBS

Colour on cost-cutting has been scant at best and they haven't offered anything to make me think there is any recovery potential. No-one knows what Brexit means yet and their clients don't know either, so potentially it's a vicious circle.feedback

Dec 01 2016

We have to very much start thinking this might be happening.feedback

Dec 01 2016

This would be significant because it would be the first developed European country to see a populist party in power. On the flip side, look at how well the markets have taken [President-elect Donald] Trump and Brexit.feedback

Nov 29 2016

BT shares have bounced back to positive territory on hopes that Europe, for all its red tape, will actually complicate the matter and delay the process.feedback

Nov 29 2016 - OPEC

(With) continued production cut brinkmanship from both OPEC and Russia, scepticism is still rife about whether tomorrow's official OPEC meeting in Vienna will be a success.feedback

Nov 28 2016

Fears are that an Italian dissent and resulting market turmoil would dissuade already gutsy investors from daring to participate in desperately needed recapitalisations within a very troubled 4 trillion euro banking system.feedback

Nov 17 2016 - London

There were no London property disposals ... and letter weakness still needs to be offset with growth in the highly competitive parcels arena.feedback

Nov 16 2016

I think markets are perhaps already ... moving on to the other political risk we're facing.feedback

Nov 14 2016

Expectations of an infrastructure spending spree, fiscal stimulus and deregulation are, however, intensifying the bond market sell-off via hopes of growth, inflation and, more importantly, interest rate rises.feedback

Nov 09 2016

Less chance of a Fed rate hike also helps keep investors smiling at the prospect of cheap money and accommodative global monetary policy stance for a while longer.feedback

Nov 08 2016

Helpful FX moves are helping sugar margins (already up on better global sugar prices), bringing focus back to the 'ingredients/agriculture' segment to prove that the ABF story can still be something other than discount fashion and Primark.feedback

Nov 04 2016

Equity markets remain southerly oriented into the weekend. Investors remain nervous about who will prove victorious in next Tuesday's U.S. election. They are also having to deal with a more hawkish central bank outlook globally as the U.S. Fed preps us for another step towards policy normalisation via a December rate hike and its Bank of England peer shifts away from more stimulus thanks to the U.K. economy weathering the Brexit storm.feedback

Oct 18 2016

Markets appear optimistic going into risk events including tonight's China GDP growth update, Wednesday's final Trump vs Clinton debate and Thursday's ECB policy decision.feedback

Sep 27 2016

Failure to return excess cash ... [is] likely the real culprit for investor displeasure. It only makes matters worse for shareholders struggling in an environment of low returns.feedback

Sep 23 2016

Banks remain pressured by the prospect of lower rates for longer and global growth uncertainty.feedback

Sep 16 2016

This has understandably sent ripples across the sector.feedback

Sep 06 2016

Markets just need a bit more evidence that they should indeed be back to the races or ... be selling off and I think the U.S. might give us a bit of a hand today.feedback

Aug 25 2016

(This) ... serves to strike fear into the hearts of healthcare groups and their investors everywhere.feedback

Aug 23 2016

Less London exposure than peers looks to be paying off while current trends and outlook appear in line with recent property data.feedback

Jun 01 2016

Today's losses come after a raft of mixed data from across the globe. A more prominent bearish sentiment is now overpowering the hitherto bullish dominance that had ushered us to recent highs.feedback

Apr 27 2016

Investors are perhaps hopeful that things are on the up from the group, with better returns on the horizon via a revamped investment banking division - the one that made it such a success in years gone by.feedback

Apr 21 2016

While news of an acquisition tends to dent the acquirer's share price (spending cash/diluting shareholders by issuing shares, risk of overpaying, integration risk, etc) the fact that this addition to the SMIN stable can be merged with its existing detection business is being well-received.feedback

Apr 04 2016

Markets were uninspired by what management described an 'in-line' start to 2016 and thus less bullish than shareholders had been hoping for ... (however) the fundamentals for the company are ... pretty solid as we move toward a cashless society.feedback

Feb 12 2016

Still work to do on the restructuring front, but a 20 percent move off the share price lows could signal a turning point on a difficult journey.feedback

Feb 08 2016

Investors are back in wait-and-see mode ahead of Fed Chair Yellen's testimony to lawmakers on Wednesday anxious for clues about the Fed's rate rise trajectory.feedback

Jan 26 2016

Further support for gold comes from a slightly weaker U.S. dollar as markets price in expectations of a dovish Fed message tomorrow, given the market turmoil.feedback

Jan 06 2016

We are in a new world - China's not growing (in) double digits, demand for raw materials has fallen through the floor and it's both a supply and demand side problem.feedback

Jan 04 2016

The mining space remains under considerable pressure on account of sector adjustment to years of over-expansion, resulting in supply gluts with slowing global growth.feedback

May 01 2015

Holders will be happy to receive another 60p special dividend … thanks to good cashflow, but sceptics might not like a worse net debt position and what amounts to a challenging environment in which to be a retailer.feedback

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