MARKETS WILL be looking for more reassuring data on the state of the Irish economy in the coming days, after some disappointing numbers last week. Retail sales for April are expected to have received a boost from strong trading activity in the motor sector.
Meanwhile, the ECB and Bank of England are expected to leave interest rates unchanged at their respective policy meetings this week. The ECB’s post-meeting press conference will be more closely watched than ever, with the main focus likely to be on sovereign debt concerns and the recent decline in the euro.
MONDAY
Results: Wyeth.
Meeting: Prudential agm.
Indicators: EMU Sentix investor confidence (Jun); US consumer credit (Apr); UK BRC retail sales Monitor; Germany factory orders (Apr).
Other: Ibec's quarterly economic forecast for 2010/2011; major Science Foundation Ireland-sponsored biology conference (TCD).
TUESDAY
Meeting: Irish Software Show Epicentre 2010 (TCD); Minister for Overseas Development Peter Power to launch Irish trade initiative with Africa (Radisson Blu Hotel, D2).
Indicators: US ABC/Washington Post consumer confidence (Jun 6th) and API crude oil inventories (Jun 4th) and IBD/TIPP economic optimism (Jun); UK BRC Shop price index (May); German current account (Apr) and trade balance (Apr); Swiss unemployment rate (May).
Other: Trading update from Origin Enterprises, Aryzta and WH Smith; Health Insurance Authority presents findings from market review of Irish private health insurance market (Westin Hotel, D2).
WEDNESDAY
Results: Norkom.
Meeting: ICG agm (Clarion Hotel, D1); Aminex agm (London); Seedcorn competition (Ramada Hotel, Belfast); SFA/An Post Driving Success Roadshow (starting in Athlone); Exchange Traded Funds seminar (Cork); annual CEPIC Congress (to June 12th, Aviva Stadium).
Indicators: Irish vehicles licensed for first time (May); US wholesale inventories (Apr) and Federal Reserve Bank publishes Beige Book; UK trade balance (Apr) and nationwide consumer confidence.
THURSDAY
Results: Halfords; TVC.
Meeting: Market Outlooks for 2010/2011 (UCD Smurfit School); FEPS/TASC seminar, Stimulating Recovery.
Indicators: ECB interest rate decision; Irish consumer price index (May) and industrial production and turnover (Apr); US trade balance (Apr), monthly budget statement (May) and initial jobless claims; UK BoE interest rate decision; German consumer price index (May).
FRIDAY
Results: Valtech.
Meeting: Oireachtas Joint Committee on Finance discusses report on preliminary investigation into origins of crisis in the banking system, with Klaus Regling and Max Watson.
Indicators: Irish retail sales index (Apr); US retail sales (May), Reuters/Michigan consumer sentiment index (Jun) and business inventories (Apr); UK industrial production (Apr), producer price index (May).
