ECB gets back to business

The summer season is drawing to a close and one of the first groups back at their desks will be the European central Bank's governing…

The summer season is drawing to a close and one of the first groups back at their desks will be the European central Bank's governing council, which meets on Thursday to decide whether to cut interest rates in the euro zone. The consensus is that the bank should cut rates but, given its history, no-one is sure whether it will. Money supply figures due out tomorrow could decide the issue one way or the other.

On the corporate front a handful of Irish companies will present interim results, including Smurfit, Grafton, FBD Holdings, Arnotts and Trintech, all of which report on Wednesday. Deutsche Telekom, in which a large number of Irish people have invested, reports six-month figures tomorrow, with most attention focusing on the company's comments after a difficult few months.

Monday

Results: Air France (Q1), Fortis (H1).

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A.G.M.: Jurys Doyle.

Indicators: US existing home sales (Jul); Japanese unemployment (Jul)

Others: Aviation regulator Mr Bill Prasifka outlines decision on airport charges; Bank holiday in Britain.

Tuesday

Results: Bunzl (H1), Metal Bulletin (H1), Persimmon (H1), Deutsche Telekom (H1),

FLS (Q2), Thyssen Krupp (Q3)

Indicators: EMU M3 data (Jul); Irish non-EU trade (Jun); US consumer confidence (Aug); German wholesale sales (Jul); French housing starts (Jul).

Wednesday

Results: Air Liquide (H1), Akzo Nobel (Q2), Arnotts(H1), CMG (H1), FBD Holdings (H1), Grafton Group (H1), Hammerson (H1), Jefferson Smurfit(H1), Johnston Press (H1), Lambert Howarth Group (H1), , Oneclickhr (H1), Psion (H1), Reckitt Benckiser (Q2), Telekom Austria (H1), T-Online (H1), Trintech (H1), Whittard of Chelsea, Wilson Bowden (H1).

A.G.M.: Thomas Potts.

Indicators: Irish quarterly national household survey (Q2), external trade (May) and vehicle licensing (May); US real GDP (Q2), sales (Q2) and implicitdeflator (Q2); Italian consumer prices (Aug); Japanese retail sales (Jul) and industrial production (Jul).

Thursday

Results: 365 Corporation (Q1), Ahold (Q2), Amec (H1), Carrefour (H1), Eagle Eye Telematics (H1), Estates & General (H1), Euronext (H1), Hilton (H1), Intercare Group (H1), London Bridge Software (H1), Lookers (H1), Medical Solutions (H1), Morse, MTL Instruments Group (H1), Rentokil Initial (H1), Rexam (H1), Skanska (Q2), Slough Estates (H1), Swissair (H1) Syngenta (H1).

A.G.M.: Faupel Trading Group, Feedback, Marchpole Holdings, Printpotato.com (e.g.m.), Scottish & Newcastle.

Meetings: European Central Bank governing council meets; 28th annual European Association for Research into Industrial Economics (EARIE) conference (Trinity College, Dublin).

Indicators: US personal income/spending (Jul) and help wanted (Jul); British M4 data (Jul) and consumer credit (Jul); Italian retail sales (Jun); Japanese consumer prices (Jul).

Others: European Central Bank presents details of a mass media campaign designed to promote awareness of the new euro notes and coins across the 12-nation common currency zone; Zeddy internet awards (Rotunda, Dublin)

Friday

Results: Heywood Williams Group (H1), Melrose Resources (H1), Millennium & Copthorne Hotels (H1), Schroders (H1), Tarsus (H1).

A.G.M.: Dyson Group, Alfred McAlpine (e.g.m.).

Meetings: German Finance Minister Mr Hans Eichel, Bundesbank president Mr Ernst Welteke, Bank of France governor Mr Jean-Claude Trichet and French Finance Minister Mr Laurent Fabius hold regular economic council meeting (Berlin).

Indicators: Irish Central Bank credit and mortgage statistics, retail sales (Jun) and industrial turnover (Jun); US factory orders (Jul), Chicago purchasing managrs' index Aug), New York National Association of Purchasing Managers' index (Aug) and Michigan sentiment survey (Aug); German Finance Ministry monthly report (Jul); French producer prices (Jul) and unemployment (Jul); Italian producer prices (Jul).

Others: Small Firms Association holds annual lunch (Burlington Hotel, Dublin); US Federal Reserve chairman Mr Alan Greenspan gives opening remarks at Federal Reserve Bank's 25th Annual Economic Symposium on Economic Policy for the Information Economy (Jackson Hole); Norway's Central Bank presents third inflation report for 2001.