Results: Bank of Ireland, HP, Mylan.
Indicators: UK mortgage approvals (Jan); German business climate, current conditions and expectations (Feb).
BoI to report amid political uncertainty
On Monday, Bank of Ireland reports its full-year results as efforts continue in earnest to form a government, the same government whose policy stands to greatly affect economic and financial policy.
Bank of Ireland lost €129.3 million of its value in the aftermath of the general election and the spectre of a Sinn Féin government – the party has vowed to drastically shake-up the status quo around tax and business policy.
And although the share price soon recovered, the mood music did not. In a note to investors last week, Davy said the political uncertainty has “weighed on Bank of Ireland’s valuation for some time with a heightened risk premium applied for much of the last 24 months, a factor that is unlikely to fade without certainty on government formation”.
However, it said, fundamentals will be in focus this week – namely cost reductions and lending growth.
In terms of the numbers, it expects attributable profit of €495 million (down from €620 million) and operating profit before impairments of €939 million with total income broadly unchanged year on year.
Meanwhile, no matter who ultimately takes the reins of power, bank staff are in line for average pay rises of 2.95 per cent despite declining earnings across the sector.
Results: Salesforce, Dalata Hotel Group, Jazz Pharmaceuticals, Hammerson, Home Depot.
Indicators: UK distributive trades (Feb); German GDP (Q4); US house price index (Dec), consumer confidence (Feb), manufacturing index (Feb).
Meetings: Ireland Development Conference on built environment (Convention Centre Dublin);
Results: Danone, Glanbia, Permanent TSB, Biomarin, Horizon Therapeutics, Intercept Pharmaceuticals, Taylor Wimpey, Wienerberger, William Hill, Office Depot, Papa John's Pizza,
Indicators: Irish overseas travel (Jan).
Meetings: IrBEA National Bioenergy Conference (Croke Park, Dublin 3); Small Firms Association Brilliant Basics event on sales growth (Three Store, High Street Gardens, Kilkenny).
Results: FBD Holdings, Perrigo, Dell Technologies, Flutter Entertainment, Grafton Group, Howden Joinery, LafargeHolcim, Mondi, Persimmon, Saint Gobain Group, Vistry Group, Crocs, Nielsen Holdings.
Indicators: Euro zone loans to households and companies, money supply (Jan), business and consumer confidence (Feb), economic, industrial and services sentiment (Feb), consumer inflation expectations (Feb); UK Nationwide housing prices (Feb); US GDP (Q4), durable goods orders (Jan), PCE prices (Q4).
Meetings: Social Media Dublin on marketing (Croke Park, Dublin 3); Guaranteed Irish event on the future of the foods and pharmaceuticals sectors (Blackstone Launchpad, University College Cork); Ibec Mid West Forum – A Dynamic and Balanced Labour Market (Castletroy Park Hotel, Limerick).
Guaranteed Irish roadshow
As one of the biggest employers in the south, the future of the food and pharmaceutical sectors is clearly of vital interest.
Hence this Thursday’s Guaranteed Irish roadshow on future trends and the ability of the sectors to meet green, community and business needs.
It is one of six such regional events by the organisation.
“We want our members to thrive and drive the local economy. It’s important to put a spotlight on other regions outside of Dublin,” explains chief executive Brid O’Connell.
“We aim to support ‘local’ and in turn the circular economy, and by doing so, reduce our carbon footprint.”
The aim of the event is to bring “best practice” solutions and competitiveness to businesses.
Taking place in the Creative Zone of the Blackstone Launch Pad in UCC, it will host an expert panel discussing future trends.
Speakers will include Jim Corbett, director of the Food Institute at UCC; Des O'Mahony, marketing director at Musgrave Retail Partners; and Liz Dooley, head of biologics clinical supply chain at Janssen R&D.
Results: CRH, Glenveagh Properties, IAG.
Indicators: Irish retail sales (Jan); Euro zone inflation (Feb); German unemployment (Feb), import prices (Jan), inflation (Feb); US PCE price index (Jan).
Meetings: Network Ireland Power Within event on female entrepreneurship (Tulfarris House Hotel, Blessington Lakes, Co Wicklow); Dublin Chamber's Talking Enterprise event with Declan Hughes (Dublin Chamber, 7 Clare Street, Dublin 2).