Living on their nerves

 

The traditionally quiet run-up to Christmas has been punctuated with a series of major profit warnings, most recently by Ericsson and Coca-Cola. Together with worries about impeachment proceedings against US President Bill Clinton, these have knocked US and European markets back. The outlook for the coming week is for more of the same with political uncertainty in the US and an ever-growing list of profit warnings leaving little scope for complacency in markets worldwide.

Monday

Results: API, Druck Holdings (H1), Europower (H1), Fountain Forestry, Hardys & Hansons, Kunick, NRP (H1), Plysu, Shield Diagnostics (H1), Vaux Group.

Indicators: British producer prices index (Nov); US Atlanta Federal Index (Nov).

Others: Irish Dairy Board's end-of-year review; German Foreign Minister Mr Joschka Fischer presents Germany's programme for its presidency of the EU which starts in January (Brussels).

Tuesday

Results: Batleys (H1), Boustead (H1), Computerland UK (H1), First Choice Holidays, Hawtin, Leeds Group, MFI (H1), NFC.

A.G.M.: Paramount

Meetings: ASEAN summit meeting (Hanoi to Wed).

Indicators: British retail prices (Nov); US business inventories (Oct), consumer price index (Nov) and real earnings (Nov).

Others: Bord Failte announces 1999 tourism marketing plan; Minister for the Environment, Noel Dempsey signs contract with SGS Ireland for car testing system from January 2000.

Wednesday

Results: Securicor.

Indicators: British claimant count (Nov); US industrial production (Nov), capacity utilisation (Nov), import/export prices (Nov); Japanese industrial production (Oct); German Ifo index (Nov).

Others: The United Nations Economic Commission for Europe's annual economic survey.

Thursday

Results: Asda (H1), Jones Stroud Holdings (H1), Legal & General, Littlewoods (H1), McKay Securities (H1), Universal Salvage (H1).

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

Meetings: Bundesbank council meets (Frankfurt); Bank of France monetary policy council meeting (Paris).

Indicators: British retail sales (Nov) and CBI monthly trends survey (Dec); US international trade (Oct), Philadelphia Federal Survey (Dec).

Others: Release of final version of OECD Economic Outlook (Paris).

Friday

A.G.M.: Allied Carpets (e.g.m.), Bett Brothers, Providence Resources, Sedgemoor (e.g.m.).