The week ahead
Cowen struggles to keep all sides happy
The only show in town this week will be Brian Cowen's presentation of his second Budget. The Government is in an invidious position having indicated it will address the clamour for action on childcare without being sure of whether they can do so without alienating one critical voting constituency or another. There will also be some expectation of action on foot of the National Pensions Review, whose publication has been deferred till after the Minister's Wednesday showpiece.
On the corporate front, there will be a raft of trading statements from banks with significant presence in Ireland, led by AIB.
Eircom will also be expected to give some idea of its position in the Swiss takeover saga.
Monday
Results: Aberdeen Asset Management, Acal (H1), Carclo (H1), Helphire Group (H1).
Meetings: Euro group of euro-zone finance ministers meet with ECB president; Stanford University president Jean-Claude Trichet due to attend (Brussels); John Hennessy gives a lecture on leadership (National College of Ireland, IFSC, Dublin).
Indicators: Euro-zone purchasing managers' index (PMI) of services (Nov) and retail sales (Oct); Irish construction employment (Oct) and NCB PMI services (Nov); US Institute of Supply Management services index (Nov); British PMI services (Nov); German PMI services (Nov); French PMI services (Nov); Italian PMI services (Nov).
Others: Launch of Chambers of Commerce of Ireland transport users survey, 2005; British Chancellor of the Exchequer Gordon Brown to release his pre-budget report; Traffic figures from British Airways.
Tuesday
Results: API Group, Christian Salvesen (H1), City Loft Developments (H1), Grainger Trust, Greene King, Halma (H1), International Greetings (H1), ITE Group, Northgate Information (H1), Quintain Estates (H1), Severn Trent (H1), Victrex.
Meetings: Ecofin meeting; Oireachtas Joint Committee on Communications, Marine and Natural Resources reviews energy; Central Bank seminar on role of bank in euro system (Central Bank, Dublin).
Indicators: US labour cost (Q3), durable goods (Oct) and factory orders (Oct); British industrial production (Oct) and manufacturing production (Oct); German industrial orders (Oct); Japanese foreign exchange reserves (Nov).
Others: AIB and HBOS release quarterly trading statement.
Wednesday
Results: Accident Exchange (H1), Intec Telecom Systems, Northumbrian Water (H1), Porsche, Reg Vardy (H1), Shaftesbury; Smith (DS) (H1), Ultraframe.
Meetings: Minister for Social and Family Affairs Séamus Brennan discusses social welfare changes in the Budget with National Women's Council of Ireland (St Andrew's Resource Centre, Dublin); European Union president Britain presents a comprehensive proposal of the bloc's 2007-13 budget at a conclave of ministers (Strasbourg); Bank of England monetary policy committee (MPC) meets (to Thurs).
Indicators: US layoffs (Nov) and consumer credit (Oct); Japanese leading indicators (Oct), coincidental indicators (Oct) and bank lending (Nov).
Others: Minister for Finance Brian Cowen announces Budget 2006; Official opening of JE Cairnes Graduate School of Business and Public Policy at NUI Galway (Cairnes Building, North Campus, NUI Galway); Traffic figures from EasyJet.
Thursday
Results: AEA Technology (H1), Anite Group (H1), Bristol Water (H1), First Choice Holidays, iSoft Group (H1), Pennon (H1), Premier Farnell(Q3), Remy Cointreau (H1).
AGMs: Baillie Gifford Japan, Fidelity Special Values.
Meetings: Dáil Committee of Public Accounts to discuss contracts tax and stamp duty on electronic share transactions.
Indicators: Irish consumer prices (Nov) and trade (Aug); German industrial production (Oct); Japanese GDP (Q3) and machine orders (Oct).
Other: Trading statement from Royal Bank of Scotland; European Central Bank publishes monthly bulletin; Bank of England decision on interest rates.
Friday
Results: Berkeley Group (H1), Medisys.
AGMs: Antisoma, Associated British Foods, Mouchel Parkman, Yukos (egm).
Indicators: Irish industrial production and turnover (Oct); US wholesale inventories (Oct); British trade (Oct); German trade (Oct); French OECD leading indicators (Oct).
Other: Traffic figures from British Airports Authority and Lufthansa.
