US jobs data to set tone

While there have been market jitters over the bombing in Yugoslavia, it appears not to have unduly influenced trading, with US…

While there have been market jitters over the bombing in Yugoslavia, it appears not to have unduly influenced trading, with US nervousness over quarterly figures from the hi-tech sector proving more influential. As such, it may be figures from the US that dominate this week, particularly employment and earnings data due out on Friday.

Attention will also focus on the US Federal Reserve's Open Market Committee meeting earlier in the week, but analysts do not predict any rate changes.

In Europe, growth forecasts look set to be trimmed when the European Commission releases its spring bulletin with projections for 1999 and 2000. The best guess at the moment is that growth for this year will now be pencilled in at a shade above 2 per cent, a relatively large drop from the 2.6 per cent most recently forecast by the Commission.

Monday

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Results: Autologic, Cooper (Frederick) (H1), Emess, Ilion Group, IS Solutions, Ashtenne Holdings, Blue Circle Industries, French Connection, Fulmar, Gaskell, T&S Stores, Taylor Nelson Sofres.

A.G.M.: BGR, Merita, Stadium Group, Temple Bar Inv Trust.

Meetings: Irish Co-operative Organisation Society seminar on implications of Agenda 2000 reform for Irish Market (Doyle Green Isle Hotel, Dublin); European Union and Asian countries' foreign ministers hold Asia-Europe meeting (Frankfurt); European Union transport ministers meet (Brussels).

Indicators: US new home sales (Feb); British M4 data (Feb); Japanese retail sales (Feb), industrial production (Feb), housing starts (Feb) and construction orders (Feb); French industry survey (Mar).

Others: International Monetary Fund managing director, Mr Michel Camdessus, visits Moscow for talks on conditions for new loans.

Tuesday

Results: Accor, Arcolectric (Hlds), Arnotts, BMW, Breedon, Clubhaus, Cussins Property Group, Hamley's, Hewden-Stuart, Highland Distillers (H1), Independent Radio Group, Johnston Press Group, Manchester United (H1), Peterhouse Group, Providence Resources, Rathbones Brothers, Save Group, Scotia Holdings, Selfridges, Signet Group, Rugby Group.

A.G.M.: Canon, EBS Building Society, ICC Bank, Law Debenture Corp, Mirror Group (e.g.m.).

Meetings: US Federal Reserve Open Market Committee; Conference of Religious of Ireland policy conference on "Social Partnership in a New Century" (Doye Tara Hotel, Dublin).

Indicators: European Commission publishes spring economic forecasts covering 1999 and 2000; it is also due to propose draft broad economic policy guidelines for 1999, which are due to be adopted at European Union leaders' Cologne summit in June; Irish Central bank spring bulletin; US consumer confidence (Mar); Japanese unemployment (Feb); French housing starts (Feb).

Others: Insurance Ombudsman publishes sixth annual report.

Wednesday

Results: Alpha Airports Group, Aquarius Group, Barr (A.G), Bentalls, British Fittings, Corporate Services, DaimlerChrysler, Eadie Holdings, Halstead (James) Group (H1), Inch Kenneth Kajang Rubber, ING Bank, Marin Intl Holdings, McKechnie (H1), Newcastle United (H1), QS Group, RMC, Viag.

A.G.M.: Britannia Smaller Cos, Dalkeith Inns, Euro Disney, Invesco Investment Trust, Seacon Holdings.

Meetings: National Centre for Partnership and Irish Profit-Sharing Association seminar on Finance Bill implications on Save As You Earn schemes (Government Buildings).

Indicators: US price index (Q4), factory orders (Feb), Chicago purchasing managers' index (Mar), New York national association of purchasing managers (Mar), real GDP (Q4), implicit delfator (Q4); French unemployment (Feb).

Others: GTS Ireland open new corporate headquarters; Bord Bia announces details of World Meat Congress which it is hosting in May.

Thursday

Results: Suez Lyonnaise.

A.G.M.: Widney (e.g.m.).

Indicators: British purchasing managers survey (Mar) and CBI distributive trades survey (Mar); US personal income/spending (Mar), National Association of Purchasing Managers (Feb), construction spending (Feb) and car figures (Feb); German purchasing managers' index (Mar).

Others: Payment to creditors who lost money in Albanian pyramid investments schemes starts.

Friday

A.G.M.: Property & Capital (e.g.m.).

Indicators: US unemployment (Mar), working data (Mar) and housing completions (Feb).

Others: Dublin, London and some European markets closed for Good Friday holiday.