InvestSMART

THE WEEK AHEAD

Earnings season officially kicks off in the week ahead, bringing a raft of mining production reports, while building approvals and home sales data are on tap.
By · 27 Jul 2012
By ·
27 Jul 2012
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The week ahead brings the start of August and as such, the official beginning of the local reporting season.

A number of mining groups are due to release fourth quarter production figures this week, in a small taste of what is to come over the next month.

In local news, building approvals data is due, along with house price figures and trade balance numbers.

Overseas, the United States Federal Reserve will hold its two-day policy meeting for July.

Elsewhere, the European Central Bank and Bank of England will make their interest rate announcements for the month.

Local news

With the Reserve Bank of Australia due for little action in the coming week, news from the Australian Bureau of Statistics takes centre stage.

On Tuesday, the ABS will release building approvals data for June.

Approvals are expected to have fallen by 15 per cent in the month, in what is a very volatile data set.

Elsewhere, private sector credit data for June is due, along with new home sales data from the Housing Industry Association.

Experts are tipping private sector credit to have risen by 0.5 per cent in June.

Wednesday brings June house price index data from the ABS.

Thursday sees the ABS unveil trade balance data for the third quarter.

June retail trade data from the ABS and the Australian Industry Group Services purchasing mangers index are also on tap.

Analysts believe the retail data will show a 0.9 per cent rise in sales.

Corporate

The week in company news is dominated by June quarter production results from a number of key resources groups.

On Monday, Beach Energy is due to release quarterly output results.

Tuesday sees Origin Energy release its fourth quarter revenue and production report.

Paladin Energy, Lynas Corporation, Aquila Resources and Aurora Oil & Gas Limited are also due to release June quarter production data.

Quarterly releases from Roc Oil Company and Sundance Resources will round out a busy day for the mining industry.

Elsewhere, Campbell Brothers holds its annual general meeting.

Overseas, Thomson Reuters will release second quarter earnings figures, while first quarter figures are due from Electronic Arts.

On Wednesday, Westfield Retail Trust delivers interim earnings results, while IOOF Holdings will report full-year figures.

Singapore Telecommunications will go ex-dividend.

Thursday sees Bell Financial interim results.

On Friday, Programmed Maintenance Services meets shareholders at its AGM.

ResMed will release fourth quarter earnings figures.

In the US, MasterCard and Time Warner will make second quarter earnings figures available to the public.

Offshore

Overseas, key economic figures are due from the Unites States, United Kingdom and broader Europe.

In the US on Monday, the Dallas Federal Reserve manufacturing survey will be released.

Elsewhere, consumer credit data and MF money supply figures for June are due in the UK.

June mortgage approvals data is awaited, alongside Gfk consumer confidence figures for July.

Eurozone consumer and economic sentiment data is also on tap.

Tuesday sees the US Federal Reserve kick off its two-day policy meeting for July.

June consumer confidence data will be released, alongside the Chicago purchasing managers index for July.

The employment cost index and personal income figures for June are also due.

Economists are tipping income data to show a 0.4 per cent rise in income and a 0.1 per cent lift in spending.

The Standard & Poors Case-Shiller Home Price index wraps up a busy day in the US.

Meanwhile, eurozone unemployment figures are set for release in Europe.

On Wednesday, the US Fed will announce its decision on interest rates for the month.

Elsewhere, car sales data will be released, along with the ADP employment report.

Construction spending data for June is also due, alongside the ISM manufacturing index for July.

Experts expect the PMI to return to expansion, lifting to a reading of 50.2.

The weekly Energy Information Administration petroleum status report is also on tap.

In the UK, July the Markit purchasing manager index for manufacturing is due, along with a similar release for Europe.

Thursday brings US jobless claims and factory orders data for June.

A couple of key interest rate decision will take place overseas, with both the Bank of England and European Central Bank holding their July meetings.

On Friday in the US, the ISM non-manufacturing index for July will be released, along with the employment situation report for the month.

Economists expect the data to show a 100,000 lift in total jobs, taking the US unemployment to 8.2 per cent.

Wrapping up

Rounding off the week, Fairfax chairman Roger Corbett will speak at a Trans-Tasman business Circle event in Sydney on Monday.

Telstra chief executive officer David Thodey will be guest speaker at an American Chamber of Commerce in Australia business briefing in Sydney.

Tuesday sees National Australia Bank group chief executive officer Cameron Clyne address an AMCHAM function in Melbourne.

Overseas, US Treasury Secretary Timothy Geithner will speak in Los Angeles.

Elsewhere, the International Monetary Fund will review Romania's European aid deal.

On Wednesday, Australian Securities and Investment Commission members Greg Tanzer and Peter Kell will take part in the Financial Services Council annual conference on the Gold Coast.

Offshore, the US Treasury will release quarterly financing estimates.

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Shane White
Shane White
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