This Week: The implications of Hurricane Katrina for the US economy and the soaring oil price will be the main focus for investors this week.
The potential economic impact of the devastation of the US gulf coast has led investors to question whether the US Federal Reserve will raise rates on September 20th, after 10 straight quarter-point rises since June 2004 to the current 3.5 per cent. The Bank of England is likely to hold rates steady when its monetary policy committee meets this week.
"It's not the data this week that's important, it's what happens to the oil price," said Brian Hilliard, economist at Société Générale in London. "Damage from the hurricane and lower growth expectations mean the odds the Fed may pause its tightening cycle are now quite high."
On the corporate front, there is plenty of activity in Dublin, led by Irish Life & Permanent on Wednesday. Jurys Doyle (tomorrow) and Fyffes (on Thursday) are among other groups reporting which will attract interest. - (Additonal reporting by Reuters)
Monday
Results: Banca Intesa (H1), British Vita (H1), IMI (H1), Kingspan (H1), Lookers (H1), Robert Walters, Swiss Life (H1), Taylor Nelson Sofres (H1), Travis Perkins (H1), Vitec Group (H1), William Hill (H1), WSP (H1).
AGM: Donegal Creameries (egm), Goffs, Irish Press.
Meetings: Irish Internet Association "Essential eBusiness" seminar (Clarion Hotel, Cork).
Indicators: Euro-zone purchasing managers' index (PMI) services (Aug); Irish NCB (PMI) services (Aug); British (PMI) services (Aug); German (PMI) services (Aug); French (PMI) services (Aug); Italian (PMI) services (Aug).
Others: Labor Day holiday in the US; IBEC launches local government charges campaign; British Airways traffic figures.
Tuesday
Results: Aegis (H1), Air Liquide (H1), Ascom Holding (H1), Axa (H1), Banca Antonveneta (H1), Brit Insurance (H1), Brixton (H1), Hays, John Menzies (H1), Jurys Doyle (H1), Macfarlane (H1), Meggitt (H1), SEB (H1), SHL Group (H1), Taylor Woodrow (H1), Thorntons (H1), George Wimpey (H1).
Meetings: FÁS workshop on employment related research in Ireland and Europe.
Indicators: Euro-zone retail sales (Jul); US Institute of Supply Management services survey (Aug); British industrial production (Jul); German industrial orders (Jul).
Others: OECD interim outlook on "What is the Economic Outlook for Europe, the United States and Japan?; Invest NI begins trade mission to Japan (to Sat).
Wednesday
Results: Accor (H1), Associated British Ports (H1), BAE Systems (H1), Beazley (H1), Carillion (H1), Crédit Agricole (H1), Devro (H1), Gallaher (H1), Irish Life & Permanent (H1), iTouch (H1), ITV (H1), LVMH (H1), Mucklow, Savills (H1), UK Coal (H1), Umbro (H1), Wilson Bowden (H1), Woolworths (H1).
AGM: Dixons.
Meetings: Oireachtas Joint Committee on Finance and the Public Services discusses review of the tax relief and exemption for high earners with officials from Department of Finance and the Revenue Commissioners.
Indicators: Irish Quarterly National Household Survey (Q2) and public sector employment and earnings (Q1); US Beige Book (Sep), productivity (Q2) and labour costs (Q2); German industrial production (Jul); Italian consumer confidence (Aug) and non-EU trade (Jul); Japanese leading indices (Jul).
Others: Traffic figures from EasyJet, Air France-KLM and SAS; National Women's Council of Ireland publishes pre-Budget submission.
Thursday
Results: Cap Gemini (H1), Computacenter (H1), Dexia (H1), Essilor International (H1), Fyffes (H1), Horizon Technology (H1), InterContinental Hotels (H1), Irish Continental (H1), James Beattie (H1), Lafarge (H1), Mowlem (H1), Premier Farnell (H1), SMG (H1), Telecom Italia (H1), Yule Catto & Co (H1).
AGM: Stanley Leisure, Volex.
Indicators: Irish consumer prices (Aug); US consumer credit (Jul) and wholesale inventories (Jul); German imports/exports (Jul); Italian business confidence (Aug).
Others: Bank of England announces decision on interest rates; European Central Bank publishes monthly bulletin; Wyeth formally opens new Dublin biotech plant.
Friday
Results: Fiat (H1), Qualceram Shires (H1), Samsonite (Q2).
Meetings: Ecofin meeting (Manchester - to Sat).
Indicators: Irish industrial production (Jul); US import/export prices (Aug); British trade (Jul); German wholesale prices (Aug) and DIW index (Sep); French industrial production (Jul); Italian industrial orders (Jun).
Others: International Energy Authority publishes monthly oil report; Traffic figures from the British Airports Authority.
