Waiting on interest rates

Nervous markets will be looking for some reassurance on interest rates this week as decisions are made in three key market - …

Nervous markets will be looking for some reassurance on interest rates this week as decisions are made in three key market - the US, EMU and Britain. Worry about the possibility of rate rises has been a key factor in the erratic performance of markets in the past week and dealers will be hoping for calmer waters ahead.

With the absence of any serious corporate news and the end of the DIRT hearings, there will be little to distract analysts apart from the ongoing fallout in the Ansbacher row.

Monday

Results: Anglo Eastern (H1), Peter Black Holdings (H1), CRC (H1), Geo Intreractive (H1), Manchester United, Minerva, Moss Bros (H1), Stromsdahl (H1), Vaisala (H1).

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Meetings: European Union meeting on regional development (Tampere, Finland to Tues); Paine Webber inaugural annual central bank conference (Luttrellstown Castle, Dublin and Merrion Hotel, Dublin to Wed).

Indicators: EMU M1 data (Aug); British M0 data (prov Sep) and CBI financial services survey (Q3); US housing completions (Aug).

Others: Call Centre Management Association set up; Golden Vale Young Entrepreneurs Scheme announced; Maxol Motor Industry Person of the Year award (Conrad Hotel, Dublin); FAS apprentices receive national craft certificates (RDS, Dublin).

Tuesday

Results: Amer (H1), Carillon, Hackman (H1), James Halstead, Edscha, Janton (H1), Lincat Group, McKechnie, Micron Technology, MSB Int'l (H1), New Tarmac Group, Oasis Stores (H1), Ponsse (H1), RWE, Shalibane (H1), Sinclair (William), Tarmac (H1), Thorntons.

A.G.M.: Black Arrow, Gartmore Fledgling Index (e.g.m.), Monsoon.

Meetings: US Federal Reserve's open market committee holds meeting; SIPTU conference (Killarney to Fri).

Indicators: British purchasing managers' index services (Sep); US leading indicators (Aug) and National Association of Purchasing Managers index non-manufacturing (Aug); German unemployment (Sep); French household survey (Sep).

Others: ESRI publishes "The Impact of Agricultural and Forestry Subsidies on Land Prices and Land Use in Ireland".

Wednesday

Results: Grampian Holdings (H1), Hamleys (H1), Hardy Underwriting (H1), PepsiCo (Q3), Spector (Q3).

A.G.M.: Gartmore Pacific (e.g.m.), Jersey Phoenix Trust, NatWest (e.g.m.), Q Group (also e.g.m.), Stentor.

Meetings: Bank of England monetary policy committee meets; Bank of France monetary policy council meets.

Indicators: British industrial production (Aug), manufacturing output (Aug) and CBI distributive trades survey (Sep); US factory orders (Aug); Japanese leading indicators (Aug), coincidental indicators (Aug) and wholesale prices (Sep); German manufacturing orders (Aug);

Others: British Conservative Party conference (Blackpool to Fri); Euro Changeover Board of Ireland opens website for students.

Thursday

Results: Austin Reed (H1), Bewag, Birka Line (Q3), Brown (N) (H1), CostCo, Hilti (Q3), Investor (Q3), ONdigital (Q3), Suez Lyonnaise (H1), Ted Baker (H1).

A.G.M.: Lawrence, Pifco, Porta Systems.

Meetings: European Central Bank governing council meets; Irish Institute of Training & Development/Irish Conference of Trade Unions conference on re-training and development in the Irish workplace (Jurys Hotel, Waterford).

Indicators: EMU unemployment (Aug), business survey (Oct) and consumer survey (Oct); British housing starts/completions (Aug) and construction orders (Aug); US consumer credit (Aug); German industrial production (Aug); French GDP (Q2) and official reserves (Sep).

Others: Bank of England monetary policy committee makes interest rate announcement; IBEC publishes services industry policy paper; .

Friday

Results: Allied Leisure, NSB Retail Systems (H1), NXT.

A.G.M.: Burford (e.g.m.), Edinburgh Smaller Cos.

Meetings: EU finance ministers meet (Luxembourg).

Indicators: US unemployment (Sep), average hourly earnings (Sep), average working week (Sep), wholesale trade (Aug).

Others: Tanaiste introduces blueprint of Western Development Commission on "Promoting Foreign Direct Investment in the West".