Standard Life faces ballot

Standard Life faces its moment of truth this week when members vote on whether to retain mutual status as argued for by the assurer itself or to go for the money and vote to demutualise.

As one analyst has commented pointedly during the campaign, the history of such demutualisation battles has shown clearly what the view of the members in such cases is; all that remains is to debate the price. It will be interesting to see if Standard Life can buck the trend of the pursuit of short-term gain.

Monday

Results: Allen, Beale (H1), Corus (H1), DBS Management, Gerling (H1), Workspace Group, World Online (H1).

A.G.M.: EMI (e.g.m.), Mercury European IT, Safeland (e.g.m.).

Meetings: OECD ministerial council meeting (Paris to Tues); Institute of European Affairs seminar on EU Deregulation and its Impact with Central Bank governor Mr Maurice O'Connell (Institute of European Affairs); World Bank ABCDE conference on the Economy of Development (Paris to Wed); Pan-European Seafood Business Forum, Rochestown Park Hotel, Cork to Tues).

Indicators: EMU industrial production (Apr); US existing home sales (May); Japanese retail sales (May); German producer prices (May) and consumer prices (Jun); Italian unemployment (Apr).

Tuesday

Results: Berkeley Group, Eyretel, Freeserve, Precoat International, Vtech Holdings, WT Foods.

A.G.M.: Hays (e.g.m.), Preston North End (e.g.m.), Skillsgroup (e.g.m.), Warnford Investments.

Meetings: US Federal Reserve Federal Open Market Committee meets (to Wed); German Ifo institute annual congress (Munich); Fingal County Council Common Options for Airport Regions seminar (Grand Hotel, Malahide); Skillnet First Polymer Training seminar (Athlone Institute of Techgnology).

Indicators: US consumer confidence (Jun); Japanese industrial production (May); French consumer spending (May) and housing starts (May); Italian retail sales (Apr).

Others: Standard Life members vote on demutualisation; British treasury select committee hears from British Bankers' Association, CBI, Institute of Directors and TUC on EMU;

Wednesday

Results: Bord Gais, Club Mediterranee (H1), European Telecom, Porvair (e.g.m.), David Smith Holdings, Teather & Greenwood Holdings, Triad Group.

A.G.M.: Golden Vale, QS Group, Yorklyde.

Meetings: Small Firms' Associations annual conference (Royal Hospital, Kilmainham); Bank of Japan policy board meeting; World Economic Forum holds its annual Central and Eastern European Economic Summit (Salzburg, Austria).

Indicators: Irish Central bank quarterly bulletin; US durable goods orders (May); German import/ export prices (May); French industry survey (Jun); Italian consumer prices (Jun).

Others:

Thursday

Results: Acatos & Hutheson, J&J Dyson, Fayrewood, Fitness First (H1), Kleenez, Kalamazoo Computer Group, Fayrewood, Spring.

A.G.M.: Camellia, Providence Resources (e.g.m.), Sherwood Group, Slingsby (HC), Whitehead Mann (e.g.m.).

Indicators: Irish industrial disputes (Q1) and non-EU trade (Apr); British consumer credit (May) GDP (Q1) and current account (Q1); US real GDP (Q1), GDP deflator (Q1), final sales (Q1) and new home sales (May); Japanese consumer prices (May/Jun) and unemployment (May).

Others: Awards for Excellence in Public Relations (Berkeley Court Hotel, Dublin); Conduit IPO price set; Bank of France annual report goes to parliament; Italian government presents economic plan to parliament.

Friday

Results: Colruyt, El Oro Mining & Exp, Exploration Company, Guardian IT (e.g.m.), GWR Group (e.g.m.), Savills (e.g.m.), Shires Income, Stagecoach (e.g.m.).

Indicators: Irish Central Bank credit figures (May) and retail sales index (Apr); EMU trade balance (Mar/Apr) and imports/exports (Mar/Apr); US personal income/spending (May), Chicago PMI and New York NAPM (Jun) and Michigan Sentiment Survey (Jun); Japanese construction orders/starts (May) and housing starts (May); French unemployment (May) and producer prices (May); Italian industrial orders (Apr) and sales (Apr).

Others: Conduit starts trading on Neuer Markt.