Bank rises on buoyant tide

Bank of Ireland is likely to better analysts' forecasts in its interim results which are due out this Thursday. Continuing buoyancy in the domestic economy, where credit growth is continuing to rise by around 20 per cent, should help the group comfortably achieve interim pre-tax profits of £225 million with earnings per share between 29p and 30p compared with figures for the same period last year of £193 million and 25.2p per share. A further contributory factor is likely to be betterthan-forecast contribution from the group's US associate, Citizens.

Bristol & West will make its first contribution to the results this time around but its figures still reflect the costs associated with the takeover.

Ryanair: As industry giant British Airways continues to weigh up the merits of introducing or buying a low-cost operation, Ryanair will unveil crucial second quarter figures on Wednesday. Brokers are pencilling in quarterly profits of £18 million in the three months to the end of September, a 70 per cent rise from the £10.6 million reported in the year-ago period, with earnings per share of 8p up from 5.3p.

Book of Estimates: Also on Wednesday, the budgetary picture for 1998 will become considerably clearer on Wednesday when Minister for Finance, Mr McCreevy publishes the Book of Estimates. Staying within the 4 per cent guidelines for growth in Departmental spending while implementing election promises and satisfying electoral demands in a burgeoning economy will test his political skills; his success may give some indication on how tax breaks will be allotted in the December 3rd Budget.

Monday

Results: BAA (H1), Cable & Wireless (H1), Carr's Milling Inds, Critchley Group (H1), Filofax Group (H1), Sidlaw Group, UK Estates.

A.G.M.: Mirror Group (e.g.m.), Regal Hotel Group (e.g.m.).

Meetings: British CBI conference addressed by Mr Wim Duisenberg, head of European Monetary Institute; Group of 10 central bankers hold regular monthly meeting at bank for International Settlements (Basle).

Indicators: British producer price index (Oct); German cost of living (Oct) and retail sales (Sep).

Others: Bill on improving French truckers' working conditions to be presented to cabinet (Paris).

Tuesday

Results: Allied Domecq, DCC (H1), General Accident (Q3), Nycomed Amersham (Q3), Sandvik's (Q3), Sedgwick Group (Q3), Wardle Storeys,

A.G.M.: A&J Mucklow, Whittard of Chelsea.

Meetings: US policy-making Federal Open Market Committee; Bank of France Monetary Policy Council; British CBI conference ends.

Indicators: British retail price index (Sep).

Wednesday

Results: British Energy (H1), Business Post Group (H1), Commercial Union (Q3), Energy Group (H1), Gremlin Group, Oxford Instruments (H1), Ryanair (Q2), SA Breweries (H1), Scandinavian Airlines Systems (Q3), Volex Group (H1), Waddington (H1).

A.G.M.: Beazer Group, BSkyB, Isotron, Ivernia West.

Meetings: Policy-making US Federal Open Market Committee meets to deliberate interest rates.

Indicators: Irish balance of international payments (Q2); British average earnings (Sep), unemployment (Oct) and Bank of England quarterly inflation report.

Others: Minister for Finance, Mr McCreevy to produce 1998 Book of Estimates; Avonmore-Waterford union bosses meet to discuss redundancies; Launch of Research Technology Innovation initiative by junior minister, Mr Noel Treacy.

Thursday

Results: Aegon (Q3), Bank of Ireland (H1), Burton Group, James Dickie, Regalian Properties (H1), Scapa Group (H1), South West Water (H1).

A.G.M.: Beauford (e.g.m.), Hays, Kingspan (e.g.m.).

Meetings: EU industry ministers (Brussels).

Indicators: Irish consumer price index (Oct); US productivity (Q3) and Atlanta Federal Index (Oct); German wholesale prices (Oct).

Friday

Results: Portsmouth & Sunderland.

A.G.M.: M-R Group.

Indicators: Irish wholesale price index (Oct); British CBI regional trends survey (Nov); US retail sales (Oct), producer prices (Oct) and real earnings (Oct); Italian producer prices (Sep).

Others: Virgin Express makes debut on Easdaq and Nasdaq markets.