With the August holiday season well in swing there is little in the way of local corporate news to catch the markets' attention. In its absence, the growing fears over the full extent of the Asian crisis and doubts over the ability or willingness of the new Japanese government to effectively tackle the problems besetting its financial sector will continue to dominate.
The biggest fear is that the problems in Asia will have a greater than forecast impact on US corporate earnings. This is the factor which has led to the most recent slump in the Dow and analysts are sceptical about the prospects for any immediate reversal of fortune.
While AIB's interim results last week provided another demonstration of the vibrant domestic economy, the continuing fall in the Dublin stock market illustrates how much we are tied to events elsewhere. Adding to the confusion is the ongoing debacle over the Clinton-Lewinsky affair and upcoming grand jury testimony from the US president. While the Starr investigations may seem slightly ludicrous from this side of the pond, the distraction at the heart of the US government is also doing little for confidence.
BSkyB: Broadcaster BSkyB reports annual results on Wednesday which are expected to show a dip in profits following its major investment in digital satellite broadcasting.
Pre-tax profits are predicted at between £260 million to £300 million sterling at the company owned by Rupert Murdoch (left) and his News Corp operation.
But analysts will be mostly looking at the outlook for digital television rather than the previous performance at the company.
British Airways: In Britain, British Airways will be the main talking point on the corporate front, with analysts expecting to see profits, announced today, blighted by the Asian financial crisis and the strength of the pound.
The airline is currently fighting to secure its tieup with American Airlines and investors will be hoping for some good news over the regulatory progress of the deal which is expected to result in BA being forced to dispose of slots at Heathrow.
Profits are expected to come in at around £150 million sterling, with some benefits being reaped from cheaper fuel prices.
Monday
Results: British Airways (Q1), Inchcape (H1), Orange (H1), Saatchi & Saatchi (H1), Silvermines (H1), Stoves Group, Workspace group (Q1).
A.G.M.: Atlantic Telecom (e.g.m.), JJB Sports (e.g.m.).
Indicators: British producer price index (Jul) and manufacturing output (Jul); Japanese wholesale prices (Jul); French current account (May).
Others: Microsoft Corp brief in opposition to preliminary injunction motions in antitrust case due in US District Court in Washington.
Tuesday
Results: BOC (Q3), Electrolux (H1), Hall Engineering (H1), Headlam Group (H1), Milner Estates, Nycomed Amersham (H1), Quantica (H1), Sanderson Bramall, Sandvik (H1), Sedgwick Group (H1), Smith & Nephew (H1), Thompson Clive Inv (H1).
A.G.M.: Castings, Delancey, Diageo, Schroder UK Growth.
Indicators: British CBI regional trends survey (Aug); US productivity (Q2), unit labour costs (Q2), Chicago Federal Index (Jun); French consumer prices (Jul).
Others: Deutsche Boerse AG details the second stage of the Xetra system extension.
Wednesday
Results: BICC (H1), BSkyB, CGU (H1), Morgan Sindall (H1), Scandinavian Airlines System (SAS) (H1), VDC Group, Westminster Health Care.
A.G.M.: European Telecom, Mountview Estates, Technoplast Industries (e.g.m.), Tenneco.
Indicators: British average earnings (May), wage costs (Q2), claimant count (Jul), ILO unemployment (Jun) and Bank of England quarterly inflation report; US Atlanta federal index (Jul).
Thursday
Results: Aegon (H1), Celsius (H1), Danka Business (Q1), Independent Insurance Group (H1).
Indicators: US retail sales (Jul), import/export prices (Jul) and weekly jobless claims and monetary data.
Friday
Results: Crown Eyeglass, Peterhead Group, Sherwood International (H1), Slug & Lettuce.
A.G.M.: AFA Systems (e.g.m.), African Lakes (e.g.m.), Fife Indmar (e.g.m.), Honeysuckle Group (e.g.m.).
Indicators: US business inventories (Jun), producer prices (Jul), industrial production (Jul), capacity utilisation (Jul) and Michigan Sentiment Survey (Aug); Japanese industrial production (Jun).
