IRELAND’S €54 BILLION “bad bank”should move another step closer to becoming a reality this week, as the final vote in the Dáil on the National Assets Management Agency (Nama) legislation takes place on Thursday. If voted through, the Nama Bill will then be sent on to President Mary McAleese who will sign it into law.
Also on Thursday, the Department of Finance’s pre-budget economic outlook will be released. In terms of economic indicators, the main focus this week will be on retail sales and consumer price releases.
MONDAY
Results: Allianz; Entech Solar; Puma.
Meeting: CPL agm; 2009 SFI Science Summit (Hodson Bay Hotel, Athlone, to Tuesday); Global economy meeting of central bank heads from leading industrial and emerging economies (Basel); Eurogroup Meeting (Brussels); Finance World 09 conference – Funding, investing and restructuring Innovation for all Companies (Sydney, to November 11th).
Indicators: EU Sentix investor confidence index (November); Irish Ulster Bank construction PMI (October); German industrial production (September); Japanese current account (September).
Others: European Central Bank executive board member Jürgen Stark speaks on monetary policy before, during and after the financial crisis (University of Tübingen, Germany); trading update from HSBC.
TOMORROW
Results: Babcock International; Credit Agricole; DCC; Imperial Tobacco; InterContinental Hotels; Norkom; Sodexo; Vodafone; Weight Watchers International; Wells-Gardner Electronics; Yell.
Meetings: Joint Oireachtas Committee on Enterprise, Trade and Employment meetings on employment schemes and compliance with financial regulation in the Irish banking sector; Ecofin Council meeting (Brussels).
Indicators: Irish institutional sector accounts non-financial (2008) and industrial production and turnover (September); UK BRC retail sales (October), RICS house price balance (October), DCLG house prices (September) and trade balance (September); German ZEW Index (November), final CPI (October) and wholesale prices (October); French industrial production (September); Japanese core machinery orders (September).
Others: CRH interim management statement; launch of the Ernst Young Economic Eye winter forecast; Federal Reserve Bank of Dallas president Richard Fisher speaks on Current State of the Economy and a Look to the Future (Austen, Texas); trading update from Barclays.
WEDNESDAY
US Veterans Day – partial market holiday.
Results: Applied Materials; Holcim; Sainsburys; Smurfit-Kappa; TVC Holdings; Youbet.com.
Meetings: Legends in Your Lunchtime series with Eamonn Fallon, chief executive of Daft Media (National College of Ireland, Dublin); Cork Meet 2009 – International business networking forum; Supplierforce Annual Conference – Managing Supply Cost and Risk in Challenging Times (Burlington Hotel, Dublin).
Indicators: UK average earnings (three months to September) and claimant count (October); Japanese domestic wholesale prices (October).
Others: Trading update from Johnston Press.
THURSDAY
Results: Anheuser-Busch; Benetton; Blockbuster; BT; Iberia; Nordstrom; Qualstar; Urban Outfitters; Qualstar; Vivendi; Wal-mart; Walt Disney.
Meeting: Data Protection Practical Compliance Conference (Radisson Hotel, Dublin); Beyond Borders – Going International with Your Business conference (UCD O'Reilly Hall, Dublin); CEO forum organised by Enterprise Ireland and Deloitte (Dublin Castle); Investor Forum 2009 – Investment Opportunities in Irish Companies (Hilton London Tower Bridge Hotel); Business After Hours Dublin Chamber networking event (NCI, IFSC, Dublin); free information seminar for aspiring entrepreneurs organised by Fingal County Enterprise Board (Blanchardstown).
Indicators: European Central Bank monthly bulletin and industrial production (September); Irish Consumer Price Index (October) and US initial jobless claims (w/e November 7th) and Fed budget (October).
Others: Department of Finance publishes its pre-budget economic outlook; trading updates from Ladbrokes; SIG, Trinity Mirror and WH Smith.
FRIDAY
Results: Abercrombie Fitch; Agilent Technologies; Dexia; Iberia; JCPenney; KBC Group.
Meetings: Bank of France holds a joint conference with the Chicago Federal Reserve on asset bubbles and monetary policy (Paris).
Indicators: Irish retail sales Index (September); US export prices (October), international trade balance (September) and Michigan sentiment (November).
