Next week brings plenty of opportunities for investors - fixated on the US - to gauge the strength of the sputtering US economy as corporate America's second-quarter earnings season goes into overdrive.
And strategists hope for positive news from the coming week, pointing out that the recent US pre-announcement season had forced analysts to cut their estimates, resulting in numbers announced so far generally meeting or ahead of expectations. That is a situation that could prompt buying.
Monday
Results: Banc of America (Q2); Boeing Corporation (Q2); Dover Corporation (Q2); Fish (H1); Norsk Hydro (Q2)
E.G.M.: Character Group; Royal Blue
Meetings: WTO and China meet in Geneva to finalise China's admission; UN Secretary-General Kofi Annan addresses UN Economic and Social Council
Indicators: US industrial production (June); US retailers' profit (Q1)
Others: Pharmaceutical firm Alltracel floating on AIM in London; ESRI presents study on poverty; Cyprus Chamber of Commerce meets ministers from Finance, Industry & Tourism; OECD presents economic survey of the Czech Republic
Tuesday
Results: Apple Computer; Black & Decker (Q2); Coca-Cola Enterprises (Q2); Eastman Kodak (Q2); Menzies (John); Ashted Group; Intel (Q2); Aberforth Smaller Co Tst (H1); Britannic Smaller Co's Tst (H1); Rights & Issues Inv Trust (H1); Merrill Lynch (Q2); Liz Claiborne; Pfizer (Q2); Philips (H1); Wells Fargo (Q2)
A.G.M.: British Airways; British Energy; Focus Solutions; Great Portland Estates; Johnson Matthey, Osborne & Little; Pillar Property; UniCredito; Young & Co's Brewery
Indicators: Quarterly national accounts (4th quarter 2000); UK retail price index (June)
Wednesday
Results: AOL Time Warner (Q2); Aberforth Split Level Tst; EMC Corp (Q2); Ford Motor Co (Q2); Hibernian Life & Pensions (H1); Kraft Foods (Q2); Microgen (H1); New York Times (Q2); P&O (Q2); Polaroid (Q1); Philip Morris (Q2); Raytheon (Q2); Xaar (H1)
A.G.M.: British Telecom; City of Oxford Geared; Innogy Holdings; Jasmin; Marconi
Meetings: G8 Finance Ministers meet in Rome to prepare for Genoa summit
Indicators: US consumer price index (June)
Others: Bank of England monetary policy committee minutes released; US Federal Reserve chairman Reserve Alan Greenspan gives twiceyearly monetary policy testimony to Congress;
Thursday
Results: Aim Group; Alcoa (Q2); Bausch & Lomb (Q2); Delta Airlines (Q2); Ingersoll-Rand (Q2); Misys; Nokia (Q2); Northern Rock (H1); Nortel Networks (Q2); PepsiCo (Q2); Sprint (Q2); Tosco (Q2); Union Pacific (Q2); Xilinx (Q1)
A.G.M.: Airsprung (e.g.m.); Baldwins Industrial; Berry Birch & Noble; Dell Computer; JZ Equity Partners; Northern Foods; Pilkington's Tiles; Plasmon (e.g.m.); Renold; Torotrak; Victoria; Volex
Meetings: European Central Bank governing council meets in Frankfurt
Indicators: Wholesale price index (June); US exports (May); US imports (May); US international trade and agricultural trade data (May); UK trade balance (May)
Others: Minister for Agriculture, Food & Rural Development presents the Department's information technology infrastructure; National Treasury Management Agency publishes annual report for 2000
Friday
Results: Alliance & Leicester (H1); DaimlerChrysler (Q2); Electrolux (Q2); Ericsson (Q2); Gillette (Q2); Merck (Q2); Scania (Q2); Visteon (Q2)
A.G.M.: East Surrey Holdings; Electro components; Finsbury Life Sciences; Goldshield Group; Latchways; Petrel Resources; Redstone Telecom (e.g.m.); Scoot.com (e.g.m.); WT Foods
Meetings: EU Budget Ministers meet in Brussels; leaders of the G8 countries hold summit meeting in Genoa, Italy.
Indicators: UK retail sales (June)
