THE MARKET is likely to remain focused on European sovereign debt issues in the days ahead, following the downgrade of Spain’s credit rating last week.
Heading into last weekend Enda Kenny was attending his first summit of EU heads of state as Taoiseach and considerable attention will be devoted this week to the outcome of that meeting.
In the lead-up to the summit, it was hoped that the leaders could agree on ideas for an overall solution to the problems facing the euro zone, including some relief on the interest rate on Ireland’s bailout fund.
Meanwhile, on the corporate scene, Aryzta and Irish Continental Group are due to report results today.
MONDAY
Results:Aryzta; Bovis Homes; Irish Continental Group.
Meeting: Euro group meeting.
Indicators:EMU industrial production (January); Irish Ulster Bank Construction PMI; UK Industrial Production (January).
Other: Denis O'Brien and John Bruton among speakers at Ireland Day event at the New York Stock Exchange.
TUESDAY
Meeting: Irish sponsorship summit (Aviva Stadium); global messaging and outsourcing summit to be hosted by VoxPro (to Thursday, Cork); Ecofin meeting; ECB executive board member Gertrude Tumpel-Gugerell speaks at finance week (Stuttgart).
Indicators: EMU employment change (quarter 4) and ZEW survey – economic sentiment (March); Irish quarterly national household survey (quarter 4) and earnings and labour costs (quarter 3); US import price index, net long-term TIC flows (January), NAHB housing market index (March) and Fed interest rate decision; UK CLG house price index (January) and CB leading indicator index; German Zew survey (March).
Other:Chartered Accountants Ireland to publish European Corporation Tax – Setting the Record Straight.
WEDNESDAY
Meeting:10th annual Fingal Student Enterprise Awards (Crowne Plaza Hotel, Blanchardstown); raising private equity round-table event (Dublin City Enterprise Board); world cyber security summit (Belfast).
Indicators: EMU consumer price index (February); US housing starts (February), current account (quarter 4) and MBA mortgage applications, producer price index (February), EIA crude oil stocks change and building permits (February); UK claimant count rate (February), average earnings excluding bonus (January) and ILO unemployment rate.
Other:Organisation for Economic Co-operation and Development OECD to release its latest economic survey of the UK.
THURSDAY
St Patrick’s Day – Irish Stock Exchange remains open.
Results:Danisco; Heidelberg Cement; Lufthansa; SIG.
Indicators:EMU construction output (January); US consumer price index (February), Philadelphia Fed manufacturing survey (March), industrial production (February) and leading indicators (February).
FRIDAY
Indicators:EMU current account (January) and trade balance (January); Irish services producer price index experimental (quarter 4); UK – Philadelphia Fed manufacturing survey (March) and mortgage approvals; German producer price index (February).
