Of jobs and credit

Unemployment figures at home and in the US will give some guidance to the markets towards the end of the week, along with purchasing data from a host of EU states and the US. At home, we will have another set of Central Bank figures which will no doubt highlight a continuing surge in credit growth.

On the corporate front, the focus is likely to remain on the plight of Eircom and its stock's downward spiral. Abroad, the announcement of full-year figures from Vodafone AirTouch will be closely watched. The figures themselves are meaningless as they include those parts of Mannesmann due to be sold, but news of a sale of Orange to France Telecom or otherwise will be anxiously anticipated.

Monday

Results: Irish Horseracing Authority, Kraft Jacobs Suchard.

Meetings: International Monetary Conference annual meeting (Paris to Wed); Sales Institute of Ireland seminar on "The Changing Role of Sales Professionals in the 21st Century" (Westbury Hotel, Dublin); IIR conference on Data Protection Ireland 2000 (Stakis Hotel, Dublin).

Indicators: EMU current account (Mar); Italian retail sales (Mar).

Others: Bank holiday in Britain and US: Tanaiste Ms Harney unveils Enterprise Ireland's strategy for the development of key internationally traded services businesses to the year 2007; ABN Amro summons senior managers to Amsterdam for review of operations.

Tuesday

Results: Emap, Greencore (H1), Old English Inns, Quintain, Vodafone-AirTouch.

A.G.M.: Blue Circle (e.g.m.), Kerry, Kynoch, Novara, Oliver.

Meetings: EU energy ministers meet (Brussels); IBEC presentation to Oireachtas Joint Committee on Enterprise and Small Business.

Indicators: Irish trade (Dec); US consumer confidence (May); Italian consumer prices (May); French business confidence index (May); German GDP (Q1); Japanese unemployment (Apr).

Others: Publication of preliminary version of OECD economic outlook; Final price discount for Deutsche Telekom third tranche share issue to be announced, based on Monday's closing price.

Wednesday

Results: Allders (H1), Anglian Water, British Land, Invensys, Northern Foods, Pilkington, Plasmon, QXL, J Sainsbury, Scottish & Southern Energy, Shanks Group.

A.G.M.: Andrews Sykes, Ardagh, Bank of Italy, Independent News & Media, Friends Provident (e.g.m.), Peterhouse, Water Hall.

Meetings: EU-US summit (Queluz, Portugal); Society of Actuaries seminar on "Financial Services The New Economic Paradigm" (Conrad Hotel, Dublin); An Bord Bia annual congress (RDS, Dublin to Fri); Minister for Finance Mr McCreevy addresses Oireachtas Joint Committee on Finance and the Public Service about decentralisation; Food business forum.

Indicators: EMU trade balance (Feb/Mar); Irish Central Bank figures (Apr), planning permissions (Q1) and vital statistics (Q4); US leading indicators (Apr), new home sales (Apr) and Chicago purchasing managers' index (May); French unemployment (Apr) and producer prices (Apr); Italian producer prices (Apr); Japanese construction data (Apr).

Thursday

Results: Aortech International, Boots, FKI, MEPC (H1), Railtrack, South African Breweries.

A.G.M.: Melrose Resources, Nycomed Amersham.

Meetings: Seminar on effects of National Development Plan on the West (Limerick Ryan Hotel); ABN Amro conference on central and eastern Europe(Berkeley Court Hotel, Dublin).

Indicators: EMU purchasing managers' index (May); Irish employment in construction (Mar); US National Association of Purchasing Managers' index (May); Italian business confidence (Apr) and purchasing managers' index (May); British purchasing managers' index (May).

Others: Public holiday in France and Germany.

Friday

Results: BPB.

A.G.M.: Availeon, Bentalls, PPL Therapeutics.

Indicators: Irish industrial production (May-July 1999), Exchequer borrowing (May) and unemployment (May); US unemployment (May); British construction output (Q1); Italian industrial orders (May); German purchasing managers' index (May); French purchasing managers' index (May).