Euro seeks leadership

Under siege, the euro is struggling for stability at almost any level. In what is a quiet week on the corporate front, attention is certain to focus again on its performance relative to the dollar and sterling.

What it needs more than anything else is some sign of economic leadership in the stagnating euro zone bloc. It remains to be seen whether Germany's new finance minister will be able to provide this leadership when he unveils his first budget since coming into office.

Smurfit: It has been very much an up and down year for investors in Jefferson Smurfit with the shares stubbornly under-performing the Irish index on product price pressure as its US associate, JS Corp, merged with Stone Corp.

However, attention at the group's annual general meeting on Thursday is certain to focus more on the future than on the past. In particular, shareholders will be looking for news on how directors plan to improve the performance of the group's stock and whether this will include the rumoured backing of the company into its US associate to capitalise on better investor sentiment for the sector in the US.

Tuesday

Great Portland Estates, Leeds Group (H1), Meyer International, Northern Foods, Radstone Technology, Severn Trent, Stagecoach, Synstar (H1), Victoria, Vodafone, Wyndeham Press Group.

A.G.M.: Derby Trust, Ferguson International (e.g.m.), Oasis (e.g.m.).

Meetings: Leinster Society of Chartered Accountants annual general meeting (Burlington Hotel, Dublin); Easdaq symposium on investing in high-technology growth stocks in Europe (Pairs); Irish Internet Association seminar on encryption (Bewleys, Grafton St, Dublin).

Indicators: EU imports (Feb), exports (Feb) and trade balance (Feb); US wholesale trade (Apr), productivity (Q1) and unit labour costs (Q1); Canadian housing starts (May).

Others: Microsoft introduces Office 2000; Minister for Enterprise, Trade and Employment Ms Harney announces formation of Skillnets Ltd, an industry led training network programme.

Wednesday

Results: Bristol United Press, Expro Intl, Firth Rixson (H1), Granada Group (H1), John David Sports, Lomin (H1), Maelor, Phonelink, Scottish and Southern Energy, Vodafone Group, Volex Group, Waddington, Warner Estate (H1).

A.G.M.: Iona Technology, ISS (e.g.m.), Probus Estates (e.g.m.), Ryan Hotels, Seafield, Toys R Us.

Meetings: British Monetary Policy Committee meets (London to Thurs); Quarterly meeting of FTSE International indices committee; OECD seminar on biotechnology (Paris); Seminar on "Investment and Trade Opportunities in Slovakia (IBEC, Dublin).

Indicators: British industrial production (Apr) and manufacturing output (Apr); Italian industry orders and sales (Mar).

Others: Conference on the practical solutions to the regulatory problems of on-line financial services (London to Thurs); European Trade Union Institute meeting on the challenges of globalisation and to present the book No Fear Of Globalisation. Wealth And Work For Everyone, written by former German finance minister Oskar Lafontaine and his wife, economist Christa Muller (Brussels).

Thursday

Results: AEA Technology, Ahold (Q1), AIT Group, Alba, Athlone Extrusions (H1), Atkins (WS), Comino, Daily Mail and General Trust (H1), Dewhurst (H1), Eliza Tinsley, GEC, Helical Bar, Man (ED&F), Macdonald Hotels, National Semiconductor (Q4), Oxford Instruments, Yates Bros Wine.

A.G.M.: Bioglan Pharma, Black (Peter) Holdings, Blagden, Bulgin (e.g.m.), Chime Communications, CNC Properties, Marchpole, Jefferson Smurfit, United Energy.

Meetings: World Economic Forum meeting on France (Paris).

Indicators: Irish total external trade (Jan); British construction new orders (Apr), housing starts and completions (Apr); US import prices (May), export prices (May), Chicago federal index (Apr) and weekly jobless claims data; Japanese trade (Apr) and current account (Apr); German unemployment (May) and industrial production (Apr); Canadian current account (Q1) and new house prices (Apr).

Others: US Treasury Assistant Secretary Mr Edwin Truman testifies on the Russian economy before the US House of Representatives Banking and Financial Services Committee; Taoiseach Mr Ahern at inauguration of Dublin Swift fast ferry service (Dublin Port).

Friday

Results: VA Stahl.

A.G.M.: Dewhirst, Martin International, Park Estates, Rowe Evans Investments, Taylor Woodrow.

Meetings: American Chamber of Commerce Ireland business lunch with guest speaker Mr Michael J Sullivan, US ambassador (Maryborough House Hotel, Cork).

Indicators: Irish industrial production (April); US producer prices (May), retail sales (May) and Michigan Sentiment Survey (Jun); French consumer prices (May) and current account (Mar).