Toying with euro rates

The revival of the euro at the end of the last week on the back of weaker US economic indicators presents a poser for the European…

The revival of the euro at the end of the last week on the back of weaker US economic indicators presents a poser for the European Central Bank's governing council when it meets on Thursday. Consensus is that the euro is a long way from being out of the woods yet and it is a toss up as to whether inflationary fears inspire a rise in rates now or in the near future.

Monday

Results: Air Liquide (Q3), Aktia (Q3), BAA (H1), BSCH (Q3), Baker Hughes (Q3), CVS (Q3), Digital Animations (H1), Ensto (Q3), Hartford Financial Group (Q3), Helkon Media, Metsa-Serla (Q3), OnLine, Outokumpu (Q3), PrimeEnt, SCA (Q3), Scania (Q3), Schering, Sulzer Medica (Q3), Telefonica (Q3), Union Carbide (Q3).

A.G.M.: Alliance Unichem (e.g.m.), Dresdner RCM Endowment.

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Indicators: US personal income (Sep); Japanese unemployment (Oct).

Others: Bank holiday in Ireland.

Tuesday

Results: Aker Maritime (Q3), Aleksia (Q3), Allied Domecq, Bang & Olufsen (Q1), BAT (Q3), BE Semis (Q3), Civilian Continental (H1), DSM (Q3), Framfab (Q3), Geberit (Q3), GlaxoWellcome (Q3), Humana (Q3), Industrivarden (Q3), Kesla (Q3), Metso (Q3), Novo (Q3), Opengate (Q3), Penna Holdings (H1), Procter & Gamble (Q3), Proteome (H1), Shire Pharmaceuticals (Q3), Smithkline Beecham (Q3), Starwood Hotels & Resorts Worldwide (Q3), Tecan (Q3), Thames Water (H1), TietoEnator (Q3), Uponor (Q3), Whitbread (H1), World Online (Q3), Wyndeham (H1).

Meetings: IBI Corporate Finance/Irish Internet Association Money Trail seminar on "Funding Rounds: to IPO or not to IPO" (Mont Clare Hotel, Dublin).

Indicators: EMU retail sales (Aug); Irish credit figures (Sep); US Chicago purchasing managers' index (Oct), consumer confidence (Oct) and new home sales (Sep).

Wednesday

Results: Aspo Group (Q3), Christiania (Q3), Cox Communications (Q3), KLM (H1), Luminar (H1), Matalan (H1), Newconomy (Q3), Pohjola (Q3), Pressac, Shanks (H1), Skandia (Q3), VTR.

A.G.M.: Online Classics (e.g.m.).

Meetings: Dail Select Committee of Public Accounts reconvenes DIRT inquiry sub-committee; Irish Innovation Millennium lecture with Nick Scheele, chairman Ford Europe and of the UK Manufacturing 2020 Foresight Panel (Berkelely Court Hotel, Dublin).

Indicators: British purchasing managers' index (Oct); US construction spending (Sep) and National Association of Purchasing Managers (Sep).

Others: ACCA graduation ceremony.

Thursday

Results: Adidas-Salomon (Q3), Amer (Q3), AssiDoman (Q3), Birka Line (Q3), Boots (H1), DnB (Q3), Eimo (Q3), Elcoteq (Q3), Fiskars (Q3), Jaakko Poyry (Q3), JOT Automation (Q3), KCI (Q3), Man Group (H1), Norske Skog (Q3), Novo Nordisk (Q3), Okobank (Q3), Sandvik (Q3), SAP Systems (Q3), Scottish Power (H1), Shell (H1), Securitas (Q3), Skanska (Q3), Stora Enso (Q3), Tulikivi (Q3).

A.G.M.: City of London IT, Dowding & Mills, Gartmore Scotland, Morse Holdings, Pixelpark, FW Thorpe.

Meetings: ECB governing council meets; CIE returns to face Oireachtas Joint Committee on Public Enterprise and Transport.

Indicators: EMU purchasing managers' index (Oct); Irish Exchequer borrowing (Oct); US leading indicators (Sep), productivity (Q3) and housing completions (Sep).

Others: Institute of Bankers annual dinner addressed by Minister for Finance Mr McCreevy (Burlington Hotel, Dublin).

Friday

Results: Barlo Group (H1), Bikenet, BSkyB (Q1), DSND (Q3), Fortum (Q3), Menire (Q3), Mitel (H1), PMJ Automec (Q3), Roxspur, Skop (Q3), UBN (Q3), Unilever (Q3), Viking Line (Q3).

A.G.M.: Quayle Munro Holdings.

Meetings: World Bank's Mr Patrick Honohan addresses Institute of European Affairs economists groups on "Outsiders views of the Irish Economic Boom: Could They Be Right?".

Indicators: Irish industrial production (Apr) and unemployment (Oct); British purchasing managers' index (Oct); US employment (Oct) and factory orders (Sep).

Others: The Irish Times Cedar awards for advertising (Berkeley Court Hotel, Dublin); Japanese markets closed.