Next Week At A Glance

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

For a more comprehensive preview of next week's events, please refer to "The Monday Report", published each Monday morning. For all economic data release dates, ex-div dates and times and other relevant information, please refer to the FNArena Calendar.

By Greg Peel

Overture, curtain, lights
This is it, the night of nights…

It’s the Joe Hockey show!

Yes folks, it’s been some time since a federal budget was so highly anticipated, feared and agonised over. There’s been plenty of talk from the Coalition but few definitive “leaks”, and we’re yet to find out whether Joe is simply ham-acting the old script of preparing everyone for the worse and then letting them off a little more lightly, or whether his prime minister is truly digging a very big hole.

Or we could just be in for another old trick: savage first budget with election two years away, a square-up with one year to go, and a candy shop budget in the election year. Either way, the stock market is a lot more nervous this year than usual, and thin stock market trading this week is likely a consequence.

Well, we’ll know by Wednesday. Meanwhile, global financial markets roll on and next week offer up plenty to ponder.

The US earnings season is coming to a close and while more positive than forecast on average, surprises have only come off much lowered expectations. Conclusion: positive, but nothing to write home about. Economically, next week the US sees retail sales, industrial production, housing market sentiment, housing starts, inflation and the Empire State and Philly Fed manufacturing indices.

China will provide a monthly data dump next week of industrial production, retail sales and fixed asset investment numbers.

We’ll also see industrial production numbers from Japan and the eurozone and each will revise their March quarter GDP results.

In Australia will see the NAB business confidence survey and housing finance and lending numbers all before Tuesday night, and then we’ll spend the rest of the week discussing the budget fallout. Things will also be hot on the corporate front.

We’ll see profit results from the chemical brothers Incitec Pivot ((IPL)) and Orica ((ORI)) as well as CSR ((CSR)), SingTel ((SGT)) and SP Ausnet ((SPN)). CommBank ((CBA)) will wrap up the bank earnings season with a quarterly update and Paladin Energy ((PDN)) will also provide a quarterly result. The AGMs continue with next week featuring Coca-Cola Amatil ((CCL)), Oil Search ((OSH)) and Santos ((STO)).

Hold onto your wallets.

Tonight what heights we’ll hit
On with the show this is it!
 

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