The US Federal Reserve's open market committee meets next week to decide American interest rates and markets on both sides of the Atlantic are likely to be jittery ahead of the rate announcement due on Wednesday. Figures showing strong US economic growth and sharply rising labour costs, which were released late last week, will have increased the already strong likelihood of a rate hike in the US.
Most analysts are forecasting a 0.25 per cent rise but there are some fears the committee might increase rates by 0.5 per cent.
Monday
Results: ARM Holdings, BAA (Q3), Beale, BSCH, Cammell Laird Holdings (H1), Corus, Fairfield Enterprises, FII Group (H1), Filtronic (H1), Gannett (Q4), Haynes Publishing (H1), Hershey Foods (Q4), Hidden Hearing (H1), IHC Caland, MoDo, Salzgitter, SCA, Silk Industries (H1), Stavert Zigomala (H1), Union Carbide (Q4).
A.G.M.: Allied Domecq (e.g.m.), Dewhurst, Pegasus Group (e.g.m.), Scottish Media Group (e.g.m.), StartIT.com (e.g.m.), Treatt.
Meetings: World Economic Forum (Davos, Switzerland to Tues); EU finance ministers meet (Brussels).
Indicators: EMU trade balance (Oct/Nov); US personal income/spending (Dec) and Chicago purchasing managers' index (Jan); Japanese construction orders (Dec) and housing starts (Dec); French producer prices (Dec) and official reserves (Jan); Italian producer prices (Dec).
Others: Deadline for offers from Bank of Scotland and Royal Bank of Scotland for NatWest; Deadline for submissions to review group on auditors; "Online 2000" 23rd European congress on the information technology and telecommunications sector (Dusseldorf to Fri).
Tuesday
Results: CBS, Chubb, Gartmore British Income & Growth, Nokia.
A.G.M.: Imperial Tobacco, Pohjola (e.g.m.).
Meetings: US Federal Reserve open market committee meets (to Wed); British National Farmers Union annual conference (London).
Indicators: EMU PMI (Jan) and unemployment (Jan); British purchasing managers' index (Jan) and M4 data (Dec); US NAPM (Dec) and construction spending (Dec); Japanese job ratio (Dec) foreign reserves (Jan) and unemployment (Dec); Italian consumer prices (Jan), Exchequer borrowing (Jan) and PMI (Jan); French housing starts (Dec) and PMI (Jan); German PMI (Jan).
Others: World Bank president Mr James Wolfensohn visits Russia; European Policy Centre meeting on "The Euro's Contribution to Economic Recovery and Future Growth in Europe".
Wednesday
Results: Amazon.com (Q4), Bank Baer, Cendant, Derby Trust, KLM (Q3), Metsa-Tissue, Oce, Schering-Plough (Q4).
A.G.M.: Edinburgh New Tiger, Granada Group.
Meetings: Irish League of Credit Unions presentation to Oireachtas Joint Committee on Finance and the Public Service.
Indicators: Irish Exchequer returns (Jan); British official reserves (Jan) and CBI distributive trades survey (Jan); US leading indicators (Dec) and new home sales (Dec); French consumer confidence (Jan); Italian industrial orders (Oct).
Others: US Federal Reserve open market committee concludes meeting and announces decision on interest rates.
Thursday
Results: ABB, Alcatel, Amvescap, Baan, Bass (Q3), Colgate-Palmolive (Q4), EDS (Q4), Imperial Chemical Industries, New York Times (Q4), Scania, Skillsgroup, UCB, USA Networks (Q4).
A.G.M.: API Group, Apollo Metals, Bass, Rolfe & Nolan (e.g.m.).
Meetings: Meeting of finance ministers from more than 30 countries from the Americas (Cancun, Mexico).
Indicators: EMU business and consumer survey results (Jan), PMI (Jan) and M1 (Dec); Irish external trade (Jan); US NAPM non-manufacturing (Dec) and factory orders (Dec); Italian business confidence (Dec).
Others: European Investment Bank 1999 review and 2000 preview (Brussels); International Toy Trade Fair (Nurmberg Tues).
Friday
Results: Heavitree Brewery, Outokumpu, Partridge Fine Arts.
Indicators: Irish unemployment (Jan); Japanese leading and coincidental indicators (Jan); US unemployment (Jan), average working week (Jan), hourly earnings (Jan) and housing completions (Dec); German manufacturing new orders (Dec).
