What’s Happening Next Week?

This story features GPT GROUP, and other companies. For more info SHARE ANALYSIS: GPT

By Chris Shaw

Next week is a busy one for economic data releases, with most of the major economies releasing updates that will show whether the so called “green shoots” are continuing to emerge or whether the global economy has further to run before it pulls out of the current downturn.

Australian data kick off midway through the week with March quarter construction work done, the Westpac leading index for March and May skilled vacancy numbers out on Wednesday, private sector capital expenditure for the March quarter and April new home sale numbers due on Thursday plus the latest Reserve Bank of Australia (RBA) credit aggregates on Friday.

Over in New Zealand the market will be waiting on April trade balance and Reserve Bank of New Zealand March quarter inflation expectations data on Tuesday and National Bank business confidence findings for May on Thursday, while next week will also see the NZ Government’s Budget announced.

With no major data releases expected from China, Asian attention will be on Japan, especially given this week’s poor GDP numbers, so the market will focus on the Bank of Japan’s (BoJ) monthly report on Monday, which comes out the same day as April corporate service prices data.

On Wednesday the BoJ’s latest meeting minutes are released along with April trade balance data, retail trade and household spending numbers for April. Manufacturing PMI results for May come out on Thursday, while Friday will see the release of May CPI and April industrial and vehicle production, housing starts and construction order numbers.

Out of Europe there will be May current account numbers and March industrial new order numbers on Tuesday, May consumer confidence and business climate results on Thursday and May CPI and April unemployment data on Friday. In contrast, the UK will be relatively quiet, with the calendar currently showing just May consumer confidence numbers expected next Thursday.

The same numbers from the US come out on Tuesday along with the S&P/Case Shiller composite index for March and May’s Richmond Fed update, while Wednesday will see the release of existing home sales data for April. This will be followed by new home sale numbers for the same month out on Thursday along with April durable goods orders and the latest results for initial jobless claims, while on Friday there will be March quarter GDP, personal consumption and core PCE data along with the Chicago PMI and University of Michigan consumer confidence results results for May.

With respect to Australian corporate activity the majority comes in the form of annual general meetings, with some of the larger companies scheduled to update investors in this format including GPT ((GPT)), Corporate Express ((CXP)), Australian Agricultural Company ((AAC)), Iluka ((ILU)) and Austar ((AUN)).

As well Perpetual’s ((PPT)) chairman will send a letter to shareholders updating on performance in recent months, while Technology One ((TNE)) releases its interim results on Monday. Campbell Brothers ((CPB)) presents full year results on Tuesday and Programmed Maintenace Services ((PRG)) on Thursday.

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

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