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THE WEEK AHEAD

Qantas, Woolworths and Whitehaven Coal headline the coming week's earnings, while local capex numbers and US GDP figures are also due.
By · 23 Aug 2013
By ·
23 Aug 2013
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The last burst of August earnings will dominate the week ahead, with reports from Whitehaven Coal, Qantas and Woolworths likely to draw significant attention.

It’s a quieter week on the domestic front with only capex and construction work done data due out from the Australian Bureau of Statistics.

A key address from a Reserve Bank of Australia official and financial aggregates for July will keep the central bank busy.

Offshore, the latest read on US gross domestic product and consumer confidence will be of most interest.

Reserve Bank

It's a subdued week for the Reserve Bank after last week’s minutes, with only a speech from a senior executive and the latest financial aggregates data.

On Wednesday, Tony Richards, the head of the Reserve Bank’s payments policy department, will deliver a speech to IQPC's The Future of Digital Payments Conference in Sydney.

On Friday, the central bank will lift the lid on the July private sector credit figure through its monthly financial aggregates. Economists expect a 0.4 per cent increase.

Local data

It’s a very quiet week on the domestic front with the closing weeks of both earnings season and the federal election taking the majority of investor focus.

Wednesday will deliver data on construction work for June out of the Australian Bureau of Statistics.

Elsewhere, the HIA Housing Affordability Index for the second quarter is on tap.

On Thursday, the ABS will release its capex data for the second quarter, with economists tipping a 2 per cent increase.

The HIA will also release its new home sales for July.

Corporate

While not quite as manic as last week, there is still plenty of excitement on the corporate earnings front this week with the likes of Whitehaven, Qantas and Woolworths all set to unveil their numbers.

Monday will deliver first-half earnings from Boart Longyear and Caltex.

Elsewhere, full-year results are expected from Australian Infrastructure Fund, M2 Telecommunications, Billabong and Whitehaven Coal.

On Wednesday, the biggest companies to drop their full-year earnings are Woolworths, Flight Centre and Transfield.

AGL, Ausdrill, Abacus Property Group, Charter Hall Group, Perseus and Wotif will also report.

Thursday delivers full-year earnings from both Westfield and Westfield Retail Group, Qantas and Country Road.

Reports are also expected from Drillsearch, Macquarie Atlas Roads, Paladin, Quickflix, Perpetual, Ramsay and Yellow Brick Road.

On Friday full-year results from Virgin, Gindalbie and PrimeAg will round out the week.

Offshore

The latest read on the US GDP and consumer confidence will be of most interest in global news, with very little data due out from China.

On Tuesday, durable goods orders for July are due out of the US, with Bloomberg expecting a 4 per cent decline.

Wednesday delivers the S&P/Case-Schiller home price index for July, alongside the consumer confidence index for August. Bloomberg expects the latter to print at 80, after a read of 80.3 in July.

Thursday delivers pending home sales in the US for the month of July, with Bloomberg tipping a 0.3 per cent increase month-on-month.

In Japan, retail sales for July will be released, while the latest inflation read is due out of Germany.

On Friday, the second-quarter read on the US GDP will be unveiled.

In Japan, the July take on inflation will be released.

Late on Friday night, the July numbers on personal income and personal spending are due out of the US, with Bloomberg tipping a 0.1 per cent and 0.3 per cent increase respectively.

Wrapping up

Monday will see Clive Palmer and Bob Katter face off in an election debate at the National Press Club in Canberra.

In Sydney, Nicholas Moore, chief executive officer of Macquarie Group, will address an American Chamber of Commerce in Australia business briefing.

Wednesday will see Colin Carter take part in an Australian Institute of Company Directors leaders’ lunch in Geelong. Mr Carter is a director of Seek and Lend Lease Corporation, as well as non-executive director of Wesfarmers.

On Thursday, former MPs Lindsay Tanner and Nick Minchin will speak at an Australian Institute of Company Directors leaders’ luncheon in Brisbane.

CPA Australia chief executive officer Alex Malley will address a Committee for the Economic Development of Australia luncheon in Melbourne.

In Sydney, David Attenborough, chief executive officer of Tabcorp, will address an American Chamber of Commerce in Australia business briefing.

Also in Sydney, Qantas’ executive manager of strategy and planning Paul Jones will address a Trans-Tasman Business Circle event.

In Perth, chief executive officer of Roy Hill Holdings Barry Mackenzie will address an American Chamber of Commerce in Australia business briefing.

Friday will see Tony Ellwood, director of the National Gallery of Victoria, deliver an address entitled ‘cultural constitutions and the community’ to a Committee for the Economic Development of Australia event in Melbourne.

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