Euro looks for cover

With the holiday period imposing itself firmly on the corporate calendar, most attention this week will again focus on the fortunes of the fickle euro. The ailing currency can expect little let-up from markets with not much on the agenda to distract them in the coming days apart from some US data which might confirm the view that the US is unlikely to raise interest rates at its Federal Reserve's open market committee meeting next week.

Irish inflation figures for July, due out tomorrow when much of Europe is closed for the Assumption holiday are unlikely to provide much cheer for the Government and the signatories to the national agreement.

Monday

Results: Automatic Data Processing, Henkel (H1), Lagardere (Q2), Lavendon Group (H1), Lowe's (Q2), Matav (Q2), Medical Solutions (H1), Millennium & Copthorne (H1), MOL (Q2), Network Appliance (Q1), Novo Nordisk (H1), NWF Group, Rautaruukki (Q2), Sherwood International (H1), Toys 'R' Us (Q2), WPP (H1), Xenova (H1).

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A.G.M.: Drummond Group.

Indicators: British producer prices (Jul); US business inventories (Jun); Japanese industrial production (Jul), German wholesale prices (Jul).

Others: US Democratic Party convention (Los Angeles); Deadline for applications for Norwegian G3 phone licences.

Tuesday

Results: Analog Devices (Q3), Asda Property (H1), Julius Baer (H1), Biodata (H1), Biotrace International (H1), Ciba Speciality Chemicals (H1), Fluxx.com (H1), Givaudan (H1), Hewlett-Packard (Q3), Holmen (H1), Home Depot (Q2), Independent Insurance Group (H1), Kinnevik (H1), Kohl's (Q2), Lundbeck (H1), Mersey Docks & Harbour Company (H1), Micrologica (H1), MoDo (H1), Navistar International (Q3), J.C. Penney (Q2), Pifco Holdings (H1), Proudfoot Consulting (H1), Sanderson Brammall (H1), Saunalahti (H1), Stadium Group (H1), Staples (Q2), Stinnes (H1), Stoves Group, Tamro (H1), Target (Q2), TJX (Q2), UPC (H1).

A.G.M.: Castings, John Swan & Sons.

Indicators: Irish consumer prices (Jul); British harmonised consumer prices (Jul), retail prices (Jul); US industrial production (Jul) and capacity utilisation (Jul);

Others: Irish Farmers' Association introduces an information campaign on the impending euro changeover; Bank holiday in France and Italy and partial holiday in Germany.

Wednesday

Results: Balfour Beatty (H1), Benefon (H1), Consolidated Stores (Q2), Deutsche Herold, European Mobile Telecom Services Technologie (H1), JSB Software, Kuoni (H1), Morgan Sindall (H1), Nordstrom (Q2), Patsystems (H1), Reckitt Benkiser (Q2), Raisio (H1), Standard Bank (H1), Telegate (H1), Telia (H1), Wier Group (H1).

A.G.M.: Aim Distribution, Era Group (e.g.m.), Universal Salvage.

Indicators: British unemployment (Jul), average earnings (Jun) and unit wage costs (Jun); US consumer prices (Jul) and real earnings (Jul); Japanese leading and coincidental indicators (Jun); German Ifo survey (Jul).

Thursday

Results: ABN Amro (H1), Austrian Airlines (H1), Computacentre (H1), Cordiant (H1), Danske Bank (H1), Eon (H1), Green Property (H1), Limited (Q2), Nedlloyd (H1), Okobank (H1), OMV (H1), Proha (H1), Roche (H1).

A.G.M.: Advanced Tech (UK), Ennex.

Indicators: Irish national income/expenditure 1999; British retail sales (Jul); US housing permits/starts (Jul) and Philadelphia Federal Survey (Aug); Canadian consumer prices (Jul).

Others: Department of Finance publishes annual review and outlook.

Friday

Results: T Clarke (H1), NSB Retail Systems (H1).

A.G.M.: Artnet.com.

Meetings: Commonwealth of Independent States summit (Yalta).

Indicators: EMU consumer prices (Jul); British building society figures (Jul), M4 data (Jul) and Exchequer surplus (Jul); US imports/exports (Jun), international trade (Jun), michigan Sentiment Survey (Aug) and federal budget (Jun).

Others: Ballot on strike action closes at Guinness Ireland.


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