US inflation numbers top the agenda this week as the market tries to work out just how aggressive the Federal Reserve will be when it starts lifting interest rates.
The US consumer price index is out tomorrow and will be followed later in the week by inflation data from Europe. Federal Reserve chairman Mr Alan Greenspan testifies before a Senate Banking Committee hearing tomorrow on his nomination to a fifth term as Fed chairman and close attention will be paid to what he has to say.
Closer to home, the success of the Revenue trawl for tax due on offshore accounts will become apparent tomorrow alongside the publication of its annual report. A less detailed picture of the issues occupying the time of new financial regulator IFSRA is likely to emerge with its progress report on Wednesday.
On the corporate front, Elan's annual meeting on Thursday will be closely followed for news of its drugs pipeline.
Monday
Results: Ahold (H1), Capcon Holdings (H1), Majestic Wine, Merrydown, Radstone Technology, Workspace.
A.G.M.: Trafficmaster.
Meetings: German Chancellor Mr Gerhard Schröder and foreign minister Mr Joschka Fischer meet French President Mr Jacques Chirac and foreign minister Mr Michel Barnier (Aachen); Fourth European conference on promoting workplace health (Dublin); Bank of Japan policy meeting (to Tues).
Indicators: US international trade (Mar), retail sales (May) and manufacturers' profits (Q1); British producer prices (May) and house prices (Apr); French consumer prices (May); Japanese bankruptcies (May); Italian industrial production (Apr).
Others: Traffic figures from Iberia.
Tuesday
Results: AIT, Civica (H1), Grainger Trust (H1), JZ Equity Partners, Lehman Brothers (Q2), Oracle (Q4), PHS, Vedanta Resources, VP, Zodiac (Q3).
A.G.M.: Celanese, GfK Holding, House of Fraser, Premier Farnell, Whitbread.
Meetings: Irish Association of Pension Funds seminar and annual meeting (Burlington Hotel, Dublin).
Indicators: Irish non-EU trade (Apr); US consumer prices (May), business inventories (Apr), capital flows (Apr), real earnings (May), National Association of Housebuilders index (Jun) and Michigan sentiment survey (Jun prelim); British consumer prices (May); Italian consumer prices (May).
Others: Revenue Commissioners publish annual report; US Federal Reserve chairman Mr Alan Greenspan testifies before a Senate Banking Committee hearing on his nomination to a fifth term in the post; Institute of European Affairs publishes "An Indispensable Partnership: EU/US Relations from an Irish Perspective".
Wednesday
Results: Award International (H1), Bear Stearns (Q2), Bouygues (Q1), Goodyear Tire & Rubber (Q1), Oasis Healthcare.
A.G.M.: Aareal Bank, Aberdeen Growth VCT1, Cobham, Lufthansa, Panther Securities, SSL (e.g.m.).
Meetings: Oireachtas Joint Committee on Enterprise and Small Business on immigrant workers in certain industries; Oireachtas Joint Committee on Communications, marine and Natural Resources meets ESB to discuss current issues; PricewaterhouseCoopers workshop on new directors' compliance statement (Four Seasons Hotel, Dublin).
Indicators: Euro-zone consumer prices (May); Irish quarterly national household survey (Q1); US industrial production (May), housing starts (May) and building permits (May); British unemployment (May) and average earnings (Apr).
Others: Irish Financial Services Regulatory Authority publishes progress report on year to April 2004; British Chancellor Mr Gordon Brown and Mr Mervyn King, governor of the Bank of England, address the Lord Mayor's Mansion House dinner in London; US Treasury Deputy Secretary Mr Samuel Bodman testifies on financial services to the House of Representatives Financial Services Committee; Ballina Chamber of Commerce launches programme to encourage local investment.
Thursday
Results: Adobe Systems (Q2), AEA Technology, Gooch & Housego (H1), Red Hat (Q1), Waterford Wedgwood.
A.G.M.: Alitalia, Elan, Elderstreet Downing, Laura Ashley, Luxottica (plus e.g.m.), Oakhill, Sefton, Slingsby, Westbury.
Meetings: European Central Bank governing council meets; Oireachtas Joint Committee on Finance and the Public Service meets Irish Bank Officials' Association on issues arising from AIB revelations; eGovernment Conference 2004 (Dublin Castle - to Fri); Galway corporate law and tax seminar (Corrib Great Southern Hotel, Galway).
Indicators: Euro-zone industrial production (Apr); US leading indicators (May) and Philadelphia federal survey (Jun); British retail sales (May).
Others: EU Summit (Brussels - to Fri); OPEC monthly oil market report; National Treasury Management Agency bond auction.
Friday
Results: Tesco (Q1).
A.G.M.: Cardpoint (e.g.m.), Hitachi Credit, Ocean Wilsons Holdings, Property Acquisition and Management, Shiloh, Straight, Tesco.
Meetings: Leinster Society of Charted Accountants annual general meeting (Berkeley Court Hotel, Dublin); Centre for Economic Studies and Ifo Institute hosts Munich Economic Summit 2004.
Indicators: Euro-zone trade data (May); US current account (Q1); British public sector net cash requirement (May); German producer prices (May); Italian industrial sales/orders (Apr) and EU trade (Apr).
Others: Bank of England publishes quarterly bulletin.
