Annual general meeting season descends on investors this week, with big names like Telstra and Qantas leading the charge.
Quarterly sales and revenue reports from some of the nation’s biggest resources companies will also start filtering through, with Rio Tinto, Fortescue and Woodside all scheduled to update the market.
Investors will be keenly awaiting the minutes of the Reserve Bank of Australia’s October meeting, while an address by governor Glenn Stevens will also be of great interest.
Offshore, the release of the beige book in the US and a slew of economic data out of China, including the latest reads on GDP and inflation, will be highly anticipated.
On Tuesday the minutes of the central bank’s October meeting will be released. At the meeting the Reserve Bank board held the official cash rate at 2.5 per cent in line with expectations. Many commentators were looking for a clearer view of any easing bias on the part of the central bank in the accompanying statement, which was not forthcoming upon its release. Thus, investors will be very keen to see what board discussed during the meeting.
Friday delivers a pair of addresses from the central bank. First, governor Glenn Stevens will address an Australian British Chamber of Commerce business lunch in Sydney. Meanwhile, head of the Reserve Bank’s Financial Stability Department Luci Ellis will deliver a speech during the Paul Woolley Centre for the Study of Capital Market Dysfunctionality Conference 2013 at the University of Technology, Sydney
Housing finance and new car sales will dominate what is a relatively quiet week for local economic news.
On Monday, the ABS will lift the lid on the August read for housing finance, with economists expecting a 5.7 per cent decline in the month.
Tuesday brings two key pieces of data from the ABS, with lending finance for August and new vehicle sales for September.
AGMs for Qantas and Telstra, as well as quarterly reports from Fortescue, Rio Tinto and Woodside will ensure it’s a busy week for company news.
Monday is the date payable for Bluescope Steel and Qantas Airways.
On Tuesday, Telstra will convene its annual general meeting in Sydney, while Rio Tinto will unveil its third quarter sales and revenue numbers.
Cochlear will also hold its AGM in Sydney.
Wednesday will bring with it CSL’s annual general meeting in Melbourne.
Thursday brings a trio of quarterly sales and revenue reports from big names in the resources sector, with Newcrest Mining, Fortescue Metals and Woodside Petroleum set for release.
Meanwhile, Ansell will convene its annual general meeting in Melbourne and Cardno will hold its AGM in Brisbane.
On Friday, Qantas will convene its annual general meeting in Brisbane, while Santos is slated to release its quarterly sales and revenue numbers.
A busy week in offshore data, bookended by some big releases in China and peaking in the middle with the release of the US beige book.
On Saturday, China will release its trade balance for September with Bloomberg economists tipping a narrowed surplus of $25.7 billion.
Monday delivers the latest read on inflation in China through the September consumer and producer prices.
On Wednesday, the Empire Manufacturing survey is released out of the US.
Thursday brings with it the September read on consumer prices in the United States, which is expected to increase by 0.2 per cent in the month.
The Federal Reserve will also release the beige book and the NAHB will unveil the October housing market index.
In the United States on Friday, housing starts and building approvals for September are slated for release, with Bloomberg tipping a 2.7 per cent lift in the former and a 1.5 per cent increase in the latter month-on-month.
Industrial production numbers for September will also be unveiled.
Meanwhile in China, a trio of key reads: third quarter GDP growth, which is expected to hold steady at 7.6 per cent year-on-year; industrial production for September; third retail sales for the same month.
Late on Friday, the US leading index will be released, with economists tipping a 0.4 per cent lift.
Tuesday will see ABC election analyst Antony Green address a Committee for the Economic Development of Australia forum entitled ‘Reforming the upper house’ in Adelaide.
On Wednesday, the Committee for the Economic Development of Australia will hold its annual WA resources overview in Perth. Executive director of Woodside Rob Cole, Shell Australian country chair Andrew Smith and chairman of Atlas Iron David Flanagan are among those delivering speeches to the event.
In Sydney, Mark Fookes, chief financial officer of the GPT Group, will address an American Chamber of Commerce in Australia event.
Elsewhere, Anna Funder will deliver the annual Dymphna Clarke lecture to the National Press Club in Canberra.
Thursday will see former NSW premier and current chairman of QBE Nick Grenier address a Trans-Tasman Business Circle event in Sydney.
On Friday, managing director of the Wesfarmers-owned Coles Group Ian McLeod will address an address an American Chamber of Commerce in Australia event in Melbourne.