THE WEEK AHEAD

A deluge of earnings reports will include results from three of the big four banks, along with Wesfarmers, Newcrest, Santos and JB Hi-Fi.

The continuing corporate earnings season dominates the week ahead, which also brings a number of key economic indicators.

Companies reporting this week include Commonwealth Bank of Australia, ANZ Banking Group, National Australia Bank, Wesfarmers and Newcrest Mining.

Santos, JB Hi-Fi, James Hardie and QBE Insurance will also reveal results.

In local news, car sales data, lending finance figures and the quarterly labour price index are due.

Overseas, inflation data is set for release in the United States, along with retail sales data and industrial production figures.

Treasury Secretary Martin Parkinson will address a corporate function in the week ahead, while Myer chief executive Bernie Brookes is also scheduled to speak.

RBA

A busy time for the Reserve Bank of Australia brings a couple of speaking appointments, a week after the bank left rates on hold for the second consecutive time last week.

On Tuesday, RBA senior manager Mark Chambers will take part in a panel discussion at the 2012 Risk & Return Australia Conference 2012 in Sydney.

Thursday sees RBA assistant governor Guy Debelle speak at the Deeper Insights Series Forum in Sydney.

The market will watch for any insight into the future of interest rates, with many analysts still expecting at least one more cut before the end of the year.

Local news

The week in local news brings a mixture of private and public indicators in a busy period for the market.

On Monday, lending finance data for June will be released by the Australian Bureau of Statistics.

Tuesday brings July car sales figures from the ABS, along with the National Australia Bank business confidence and conditions index for July.

Wednesday sees the ABS release the June quarter labour price index. CommSec expects the data to show wages rose 1 per cent in the quarter, and 3.7 per cent over the year.

Elsewhere, Westpac Banking Corporation and the Melbourne Institute will release their consumer sentiment index for August.

On Thursday, average weekly earnings data for May is on tap.

The Melbourne Institute’s August consumer inflation expectation is also awaited.

Corporate

If last week wasn’t enough, earnings season kicks up a gear this week with an avalanche of reports that will have both investors and analysts flat out.

On Monday, Newcrest Mining is due to report full-year results. Goldman Sachs analysts are expecting the company to post a 7.7 per cent fall in underlying profit to $976.6 million.

Elsewhere, Downer EDI, UGL and JB Hi-Fi will unveil annual results.

James Hardie will hold its annual general meeting, and release quarterly figures to the market.

Tuesday sees National Australia Bank release a third-quarter trading update.

Ansell will release full-year results, and is tipped to report a 13.1 per cent rise in underlying profit to $US137.7 million.

Annual results from Carsales, Goodman Fielder and Oakton are also awaited.

Allied Gold will hold its AGM.

Wednesday brings yearly results from Commonwealth Bank of Australia. Goldman economists believe the bank will post a 4.2 per cent rise in cash earnings to $7.121 billion.

Echo Entertainment Group and Primary Health Care will also report.

OZ Minerals is expected to release interim figures, which are tipped to show the company‘s underlying profit sinking 57.7 per cent to $79.9 million.

Westfield Group will also reveal results for the half year, while Rio Tinto is due to go ex-dividend.

On Thursday, Wesfamers will report full-year results, on the same day it meets shareholders for its AGM.

Goldman Sachs expects the group to post an underlying profit of $1.88 billion, a 13.7 per cent rise on the previous corresponding period.

ASX is also due to unveil full year results. The market operator’s underlying profit is tipped to ease 2.8 per cent to $346.7 million.

Full-year figures are also awaited from Brambles, Arrium and Dexus Property Group.

Interim figures are due from QBE Insurance Group, and are tipped to show a 17.8 per cent rise in underlying profit to $US863.1 million.

Adelaide Brighton and AMP will also post half-year numbers.

Elsewhere, Tabcorp will trade ex-dividend, while Murchison Metals will hold its AGM.

Friday sees Australian and New Zealand Banking Group report quarterly production data.

Santos and APN News & Media are scheduled to reveal interim results.

Santos is expected to post a 0.5 per cent rise in underlying profit to $237.3 million, according to Goldman Sachs analysts.

Treasury Wine Estates wraps up a massive week by releasing full-year results to the market.

Offshore

Overseas, a suite of data from Europe, the Unites States and elsewhere is set for release.

Sunday brings gross domestic product data for the second quarter in Japan.

Monday sees money supply data released in China.

In the United Kingdom, the RCIS housing price index for July will be released.

On Tuesday, US producer price index data for July and retail sales figures for the month are on tap.

Economists think sales rose between 0.3 and 0.4 per cent in July, while producer prices are tipped to have jumped 0.2 per cent.

Business inventories data for June will be released.

IBD/TIPP economic optimism data for August and NFIB business optimism figures for July are also on tap.

In Europe, eurozone gross domestic product data for the June quarter is on tap, along with industrial production figures for June.

In the UK, consumer price index data for July will be released, along with the retail price index for the month.

DCLG will make house price index figures for June available to the public.

Wednesday sees US consumer price index data for the month of July released.

The core measure of prices is expected to have risen by 0.2 per cent in July and 2.2 per cent over the year.

Industrial production figures for July are also on tap, along with the housing market index for August. CommSec is tipping production to have lifted 0.4 per cent.

Elsewhere, international capital data for June will be released by the US Treasury, while the New York Empire State manufacturing survey for August is awaited.

Rounding off a busy day, the weekly Energy Information Association’s petroleum status report and Mortgage Bankers Association mortgage applications data is due.

In the UK, the minutes of the Bank of England’s last policy meeting will be released.

Average earnings data for the three months of August will be released, along with claimant count change data for July.

Unemployment figures for the August quarter are also on tap.

Thursday brings July housing starts figures and jobless claims in the US.

Elsewhere, the Philadelphia Federal Reserve survey for August will be released.

In the UK, retail sales data for July will be released.

July consumer price index data for the eurozone is also awaited.

On Friday, US consumer sentiment data for August will be released.

Elsewhere, eurozone current account balance data for June is awaited.

Wrapping up

Rounding off the week, Tuesday sees AGL chairman Jerry Maycock speak at a Trans-Tasman Business Circle event in Sydney.

Climate Commission chief commissioner Tim Flannery is scheduled to address a Committee for the Economic Development of Australia luncheon in Melbourne.

On Thursday, Treasury Secretary Martin Parkinson will be the guest speaker at a CEDA event in Brisbane.

Australian Securities and Investment Commission deputy chairman Belinda Gibson will address the Law Institute of Victoria in Melbourne.

Microsoft Australia chairman Pip Marlow will speak at an American Chamber of Commerce in Australia business briefing in Melbourne.

In the US, Minneapolis Federal Reserve president Narayana Kocherlakota will speak.

On Friday, Myer chief executive officer Bernie Brookes will speak at an AMCHAM function in Sydney.

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