Waiting for oil to flow

Despite a host of corporate results this week, financial markets will be watching today's meeting of the Organisation of Petroleum…

Despite a host of corporate results this week, financial markets will be watching today's meeting of the Organisation of Petroleum Exporting Countries (OPEC) most closely for signs of a production agreement which could see oil prices fall.

Dealers said the Vienna meeting would set the tone for markets in the early part of the week.

Soaring oil prices which peaked above $30 a barrel earlier this month have been blamed for recent signs of accelerating inflation, particularly in the euro zone and analysts are on watch for further impact from crude prices.

MONDAY

READ MORE

Results: Ashtenne, Blue Circle, Forth Ports, Global Group, Jamie bars (H1), Lehman Bros (Q1), Linden, London Town, Rage Software (H1), Sherry FitzGerald, T&S Stores, TT Group.

A.G.M.: Brewin Dolphin (e.g.m.), First Technology (e.g.m.), Rentokil (e.g.m.).

Meetings: OPEC oil ministers meet in Vienna.

Indicators: EMU M3 money supply figures (Feb); British current account (Q4), consumer credit (Q4) and GDP (Q4).

TUESDAY

Results: Allianz, Arcoelectric, Arcon International, Bell Group, BMW, City Centre Restaurants, EBC Group, Goldman Sachs (Q1), House of Fraser, TJ Hughes, LA Fitness (H1), Manchester United (H1), NMT, Novara, Provalis (H1), QS, Signet Group, Surgical Innovations, SR Pharma, TSB Bank.

A.G.M.: Conroy Diamonds & Gold, Schroders.

Meetings: IBEC music industry group seminar on "E-music: Challenges For Music in the Digital Age" (Davenport Hotel, Dublin); E-business seminar (Radisson Hotel, Dublin); Inaugural Finance Dublin annual conference (O'Reilly Hall, UCD to Wed); RDS Industry & Commerce lunch addressed by Ms Vivienne Jupp, chairwoman of the Information Society.

Indicators: Irish index of employment in construction (Jan); US consumer confidence (Mar); Japanese industrial production (Feb).

Others: EU Commission decision on objections to Esat/BT deal; Deutsche Borse annual news conference; Experience Ireland - EXPO 2000 launched by labour, trade and consumer affairs minister Tom Kitt; Minister for the Environment and Local Government, Mr Dempsey presents awards to graduates of IPC's Environmental Graduate Internship Programme.

WEDNESDAY

Results: AG Barr, Bouygues, Christie Group, Commerzbank, Halstead Group (H1), Independent News & Media, Irish Continental, Johnston Group, Miller Fisher, Severfield-Rowen, Taylor & Francis.

Others: Central Bank publishes its spring bulletin; Business & Finance awards (Berkeley Court Hotel, Dublin).

THURSDAY

Results: Alpha Airports, Arnotts, BHF, Carrefour, Delcam, Dowding & Mills (H1), Finlay, Flying Flowers, Holderbank, Maiden Group, Rathbone Brothers, Roche, Schwarz Pharma, Selfridges, UPC, Veba.

A.G.M.: Horizon Technology.

Meetings: European Central Bank governing council meets; Department of Agriculture conference on "New Challenges for Agriculture and Food" addressed by EU Agriculture Commissioner Mr Franz Fischler and Consumer Affairs Commissioner Mr David Byrne (Dublin Castle); Fifth annual RTE/UCD lecture in Broadcasting, Society and the Law series on "Exposing Truth While Keeping Secrets: Publicity, Privacy and Privilege"; Human resources conference on Thriving on Change (Gresham Hotel, Dublin); Manchester United marketing manager Mr Peter Draper addresses Marketing Institute on how Internet will help the club.

Indicators: US GDP (Q4).

FRIDAY

Results: Autologic Holdings, JKX Oil & Gas, Knight Ridder (Q1).

A.G.M.: CGU, Metallgesellschaft, Norwich Union.

Meetings: IMCI/Irish Times Annual Medal Breakfast (Conrad Hotel, Dublin); Annual spring lunch of Institute of Certified Public Accountants in Ireland addressed by Mr Michael McDowell on "A New Era of Company Law Enforcement" (Conrad Hotel, Dublin).

Indicators: Irish retail sales (Jan) and new vehicle licences (Dec); US personal income/spending (Feb), factory orders (Feb) and Chicago purchasing managers' index (Mar); Japanese consumer prices (Feb) and unemployment (Feb).

Others: Chambers of Commerce of Ireland publishes policy document on education and training for employability.