Telecom ball gets rolling

The juggernaut starts rolling this week with the start of the Telecom Eireann share offer process on Wednesday

The juggernaut starts rolling this week with the start of the Telecom Eireann share offer process on Wednesday. While it will be some time before the full details of the flotation are known, every step along the way in what will undoubtedly be the largest public offering in the history of the State will be closely watched by the markets and the investment community, especially after the recent travails of the board and the deregulation of the market.

Monday

Results: Associated British Foods (H1), Bellway (H1), Citigroup (Q1), Coca Cola (Q1), Eastman Kodak (Q1), Offshore Tool & Energy and Harvey Nash.

A.G.M.: Bowness Leisure, Peel Holdings (e.g.m.), Thistle Hotels (e.g.m.), Guiness Peat Group (e.g.m.), Intelek (e.g.m.), NMT Group (e.g.m.), Volvo (Q1).

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Meetings: European Bank for Reconstruction and Development annual meeting (London to Tues).

Indicators: British producer prices (Feb).

Others: CRH and Viridian detail plans for electricity plant (Merrion Hotel); WTO dispute settlement body meets to hear US request for authorisation to impose retaliatory duties on EU goods in the banana dispute.

Tuesday

Results: Air Partner (H1), Boston Scientific (Q1), Chase Manhattan (Q1), Debenhams (H1), EMC (Q1), Honeywell (Q1), Mellon Bank (Q1), Microsoft (Q3), JP Morgan (Q1), Northwest Airlines, Phillip Morris (Q1), SmithKline Beecham (Q1), Sprint (Q1), St Ives (H1), Versailles Group.

A.G.M.: ARM Holdings (e.g.m.), Legal & General, McDonald's, NatWest Bank, Reuters.

Meetings: IBEC Year 2000 conference (Dublin Castle).

Indicators: Irish wholesale price index (Mar); British retail prices (Mar); US international trade (Feb); Japanese trade balance (Mar); French trade balance (Feb); German ifo survey (Mar).

Others: OECD agricultural outlook 1999-2004 published.

Wednesday

Results: Akzo (Q1), AMR (Q1), Bank of Scotland, Becton-Dickson (Q2), Colgate-Palmolive (Q1), Creditanstalt, DFS Furniture (H1), Dun & Bradstreet (Q1), Exxon (Q1), Hilton Hotels (Q1), Lambert Smith Hampton, Novartis (Q1), United Overseas.

A.G.M.: Allied Irish Banks, British Vita, F&C Enterprise Trust, Fleming Income & Growth, Grafton Group, Henderson High Income, Johnson Fry Utilities, Lavendon, London & Edinburgh Pub, Molins, Rank Group, Surgical Innovation, Travis Perkins, Coca Cola, General Electric, Tellabs, Property & Capital (e.g.m.).

Meetings: Irish-American Chamber of Commerce business lunch addressed by Irish Life chief executive, Mr David Went (Davenport Hotel, Dublin); Ifex '99 (Kings hall, Belfast); German-Irish Chamber of Commerce lunch (Shelbourne Hotel, Dublin).

Indicators: British average earnings (Feb), unit wage costs (Feb) and claimant count (Mar); US federal budget (Mar).

Others: Telecom Eireann takes initial steps in public share offering; National Awards of Excellence (National Museum).

Thursday

Results: Abbey National (Q1), Airtouch (Q1), Bell Atlantic (Q1), Bethlehem Steel (Q1), Chevron (Q1), Dana Petroleum, Ericsson (Q1), Equity Bank, Folkes Group, Gateway (Q1), GTE (Q1), ICI (Q1), JJB Sports, Lucent Technologies (Q2), McDonald's (Q1), Monsanto (Q1), Nokia (Q1), Norsk Hydro (Q1), PepsiCo (Q1), Philips (Q1), Sears Roebuck (Q1), Tandy (Q1), Ted Baker, Trelleborg (Q1).

A.G.M.: Compaq, Abbey National, Braime (TF&JH), Dominick Hunter Griyo, ICI, ICS Building Society, Inveresk, Lex Service, Schroders, SpiraxSarco.

Meetings: European central bank governing council; European Union telecommunications ministers (Brussels); Chartered Accountants in Business annual conference on "Corporate Restructuring - Gain or Pain?" (O'Reilly Hall, UCD).

Indicators: EU trade balance (Jan); British retail sales (Mar), M4 data (Mar), building society lending (Mar) and motor vehicle production (Mar); French industrial production (Feb); US weekly jobless claims and monetary data.

Friday

Results: Kellogg (Q1), Mobil (Q1), World Telecom.

A.G.M.: Barclays, Ennex (e.g.m.), Moorfield Estates (e.g.m.), Oxford Biomedica, Sanderson Bramall, Sira Business Service (e.g.m.), Ulster Television.

Meetings: IMI conference (Killarney).

Indicators: EU harmonised consumer price index (Mar); British GDP (Q1).