What’s Happening Next Week?

This story features INCITEC PIVOT LIMITED, and other companies. For more info SHARE ANALYSIS: IPL

By Rudi Filapek-Vandyck

On Saturday, South Africa will watch the inauguration of President Zuma. The new President, and ANC leader, is to announce his cabinet nominations on Sunday. As the inauguration itself is more of a formality, market watchers may well pay more attention to what will happen on Sunday and/or Monday.

As far as economic data are concerned, investors and commodity watchers will have enough to digest from China the coming week. Apart from PPI and CPI data (Monday), Trade Balance and Fixed Assets Investments (Tuesday) and retail sales and industrial production (Wednesday), China is also likely to release statistics on domestic money supply, wholesale prices and actual fixed asset investments. A date for these latter releases has yet to be formally announced.

In Australia, the monthly NAB business survey kicks the week off on Monday, followed by March housing finance figures on Tuesday, as well as the Rudd/Swann Government’s Federal Budget. A day later, consumer sentiment (Westpac) and the Q1 Wage Cost Index will be released, followed by consumer inflation expectations on Thursday.

NZ has some data to share as well, starting with food prices on Monday, followed by retail sales on Thursday.

Japan equally adds some data in the form of Machine Tools orders on Monday, the March leading index on Tuesday, plus Machine orders and banking loans later in the week.

The US starts the new week off on a slow note, with the monthly Budget statement and the March trade balance scheduled for Tuesday. Wednesday should brings us retail sales for April, April’s import prices index and US business inventories for March. Thursday will see the release of US PPI figures for April as well as the weekly jobless claims. On Friday we have the all-important CPI, industrial production, consumer confidence as measured by the University of Michigan and the US Empire State Manufacturing survey for May.

From Europe, we should see the latest release on housing prices in the UK as well as April retail sales on Monday, the UK trade balance and industrial production on Tuesday, plus a GDP estimate by NIESR. One day later we will get an indication about industrial production across the eurozone, plus the quarterly inflation report by the Bank of England.

The European Central Bank will issue its monthly report on Thursday, while Friday will see the release of the eurozone’s Q1 GDP estimate and the CPI figure for April.

In terms of specific company news, Incitec Pivot’s ((IPL)) market update is scheduled for Monday and it is widely speculated the release of the full year results will come with a profit warning for the year ahead. SP Ausnet ((SPN)) reports on Tuesday and that should see a cut in dividends, if not more capital management. More attention will go out to Commonwealth Bank’s ((CBA)) trading update on Wednesday.

Singapore Telecom ((SGT)), in Australia better known as the owner of Optus, reports on Thursday. Throughout the week a queue of general meetings takes place, including from Oil Search ((OSH)), AMP ((AMP)) and Henderson Group ((HGG)).

For more information: see the FNArena calendar on the website (updated regularly) and Monday’s The Week Ahead.

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