What’s Happening Next Week?

This story features ORICA LIMITED. For more info SHARE ANALYSIS: ORI

By Chris Shaw

The breakdown of the Rio Tinto/Chinalco deal is the news buzzing around equity markets today but investor interest should remain high next week as well given a substantial number of economic releases throughout the world.

The Australian market enjoys a holiday on Monday but on Tuesday the data flow begins with the National Australia Bank business survey and ANZ job ads for May, followed by Westpac’s reading on consumer confidence for June due on Wednesday and consumer inflation expectations for the same month and May labour market data out on Thursday.

Over in New Zealand the major release will be the Reserve Bank of New Zealand’s latest decision on interest rates on Thursday but there will also be updates on credit card spending in May and March quarter terms of trade on Wednesday plus May food prices and retail sales numbers on Friday.

Turning to Asia the market can expect updates from China on May PPI and CPI numbers on Wednesday, May trade balance and fixed asset investment data on Thursday and retail sales and industrial production numbers for May on Friday.

From Japan the market will be looking for April current account and the latest Eco watchers survey results on Monday, May machine tool orders and coincident and leading index numbers on Tuesday, May domestic CGPI details on Wednesday and March quarter GDP data on Thursday. To end the week Japan is expected to release April industrial production and capacity utilisation numbers as well as May consumer confidence results on Friday.

The European union data anticipated next week include the latest Sentix investor confidence survey results for June out on Monday, the ECB’s monthly report due on Thursday and April industrial production numbers out on Friday, while from the UK there will be April house price numbers out on Tuesday, trade balance and industrial production details for the same month on Wednesday and May GDP numbers on Thursday.

From the US the market will be looking for April wholesale inventory numbers on Tuesday, April trade balance data, the May monthly budget, June mortgage applications and the latest Fed Beige Book on Wednesday. This will be followed by the regular update on initial jobless claims, May retail sales and April business inventory numbers on Thursday and May import prices and the June University of Michigan consumer confidence index out on Friday.

Corporate activity slows significantly next week with Orica ((ORI)) the only big name stock expected to go ex dividend in the period while the likes of Aurora Minerals ((ARM)) and Desert Energy ((DSN)) will hold shareholder meetings.

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

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