Spotlight on semi-states

Despite a host of annual general meetings, it promises to be a reasonably quiet week on the corporate and economic front

Despite a host of annual general meetings, it promises to be a reasonably quiet week on the corporate and economic front. In the light of this and the imminent flotation of Telecom Eireann, a fair degree of attention will focus on the performance of some of its stable companions among State-sponsored bodies. The ESB, Coillte and Aer Rianta all report their annual figures this week, along with the bane of Aer Rianta's life, Ryanair.

The figures will be important, especially in the case of the ESB, which is rapidly approaching a more competitive world. Analysts will be hoping it is working to develop a proper strategy and cost structure. Aer Rianta, tipped to be among those semi-states in line for privatisation, can also expect close inspection.

Monday

Results: Ambishus Pub Co (H1), Cambridge Antibody Technology (H1), City of London Property Group (H1), Energis, Get Group (H1), Kunick (H1), Merchant Retail Group, Metroline (H1), Morgan Grenfell Equity (H1), Paragon (H1), Wolverhampton & Dudley Breweries (H1).

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A.G.M.: Jurys Hotel (e.g.m.).

Indicators: Irish non-EU trade (Mar); British GDP (Q1); Japanese trade balance (Apr); German import/export prices (Apr).

Others: Trinity Biotech makes debut on Irish Stock Exchange; Publication of First Musgrave Report on out of town shopping centres; Irish Permanent review of house price movements in first quarter.

Tuesday

Results: Azlan, British Airways, Coillte, EMI, ESB, Heart of Midlothian (H1), Hill Hire, Old English Inns, National Grid, Novell (Q2), Southnews, South Staffs Water, Thames Water, Treatt (H1).

A.G.M.: Bula Resources (e.g.m.), Ivernia, Kerry Group.

Meetings: Oireachtas Joint Committee on Public Enterprise and Transport addressed by Telecom chief executive, Mr Alfie Kane; EU finance ministers meet with draft EU savings tax on agenda (Brussels); EU employment and social affairs ministers meet; IBEC conference on Electricity Sector (Green Isle Hotel, Dublin).

Indicators: US consumer confidence (May) and existing home sales (Apr); Japanese retail sales (Apr); German consumer prices (Apr).

Others: Central Bank annual report; Electricity Bill at committee stage; Young Enterprise Ireland Awards (Commons Inn Hotel, Cork); Olivetti due to announce whether it will go through with takeover of Telecom Italia.

Wednesday

Results: Aer Rianta, Airsprung Furniture Group, Anglian Water, Bristol Water Holdings, Bulgin, Carlton Communications (H1), Dairy Crest Group, Fortis (Q1), Hacas Group (H1), Heals (H1), Land Securities, Metro, National Power, Shires Income, South African Breweries, Videologic Group, Villeroy & Boch.

A.G.M.: Lamont, Independent Newspapers.

Meetings: IBEC seminar on business of music (Burlington Hotel, Dublin); Corporate Event Expo '99 (RDS, Dublin to Thurs); Ministerial meeting of OECD council (Paris to Thurs).

Indicators: EU consumer prices (Apr); US durable goods orders (Apr); British non-EU trade in goods (Apr); Japanese housing starts (Apr); German consumer prices (May).

Thursday

Results: 3i Group, Aukett Associates (H1), BTG, Business Post Group, Chloride Group, Cultor (Q1), Eidos, FKI, ING (Q1), Merrydown, Pennon, Preussag (H1), Railtrack, Saga Petroleum (Q1), Scapa, Shanks & McEwan, UBS (Q1), United Utilities.

A.G.M.: Arnotts, Deutsche Telekom, FII Group (e.g.m.), Finlay (James), Garton Engineering, Kingspan, Rugby Group (e.g.m.), Sirdar (e.g.m.).

Indicators: EU imports/exports (Feb) and trade balance (Feb); Irish index of employment in construction (Apr); US GDP (Q1); British CBI monthly trends (May); Japanese industrial production (Apr).

Others: Irish Insurance Federation annual lunch (Shelbourne Hotel, Dublin); Dutch court due to rule in dispute between Gucci and LVMH concerning Gucci's management strategy; Friends First publishes guide to long-term investment in Ireland.

Friday

Results: Allders (H1), Buckland Investments, Fuller, Kelsey Industries (H1), RCO (H1), Smith & Turner, Plasmon, Ryanair.

A.G.M.: Austin Reed Group, HSBC, Iceland Group, Reed Executive.

Meetings: Franco-German summit opensoder and cabinet ministers (Toulouse to Sat). to Sat).

Indicators: Irish industrial production (Feb) and retail sales (Mar); US personal income/spending (Apr) and Chicago purchasing managers' index (May); Italian consumer prices (May).