A much quieter week for markets, although the eurozone will continue to be the flashpoint, especially with uncertainty remaining high about the political situation in Greece.
China’s monthly drop of economic data will be a major event for markets, especially those in Australia and the rest of Asia.
In Australia
The major releases of data include the ANZ job ads series later today, business confidence tomorrow from the NAB, consumer confidence (Wednesday) and October employment and unemployment figures out on Thursday.
Trade figures for the month of September are out tomorrow and housing finance data is due Wednesday.
On Thursday, Reserve Bank of Australia assistant governor Phillip Lowe will speak at an Australian Farm Institute’s Agriculture Roundtable Conference in Melbourne.
Investors will be looking for any reflection on the bank’s decision to cut interest rates by 25 basis points last week.
Singapore Telecommunications (quarterly) and Orica (full year) report financial results this week, starting with Orica’s figures later today.
CSR releases its interim figures midweek and Myer releases its first quarter sales update on Friday.
The annual meeting season hits a peak this week with major groups such as Commonwealth Bank of Australia, Fortescue Metals, QR National, Wesfarmers, Lend Lease and Leighton Holdings holding meetings.
Other meetings in a very busy week will include Atlas Iron Ltd, Ivanhoe Australia Ltd, Downer EDI Ltd, Computershare Ltd, Seven Group Holdings Ltd, SP Austnet Ltd, Brambles Ltd, Gindalbie Metals Ltd, Asciano Ltd and Fairfax Media Ltd.
Cryosite Ltd, D’Aguilar Gold Ltd, Planet Metals Ltd, Signature Capital Investments, GB Energy Ltd, ISS Group Ltd, Northern Mining Ltd, ALE Property Group, Ironbark Capital Ltd, Uscom Ltd, Xanadu Mines Ltd, Berklee Ltd, New Age Exploration Ltd, Cortona Resources Ltd, Data#3 Ltd, Energy Developments Ltd, Jumbo Interactive Ltd, Breville Group Ltd, Aberdeen Leaders Ltd, Astro Japan Property Group, Bionomics Ltd, BioTech Capital Ltd, Malachite Resources Ltd, Pacific Environment Ltd, Pan Pacific Petroleum NL, Waterco Ltd, Engenco Ltd, New Age Exploration Ltd, Cromwell Corporation Ltd, Mincor Resources NL, New Horizon Minerals Ltd, Octagonal Resources Ltd, Renaissance Minerals Ltd, Sunseeker Minerals Ltd.
HamiltonJames & Bruce Group Ltd, HFA Holdings Ltd, Echo Entertainment Group Ltd, Specialty Fashion Group Ltd, Treasury Group Ltd, Sims Metal Management Ltd, Starpharma Holdings Ltd, Alliance Resources Ltd, Bluechip Ltd, IMX Resources Ltd, Polymetals Mining Ltd, ADX Energy Ltd, Marengo Mining Ltd, Medusa Mining Ltd, Neo Resources Ltd, Ampella Mining Ltd, TFS Corporation Ltd, RHG Ltd, Orpheus Energy Ltd, Infigen Energy Ltd, Integrated Resources Group Ltd, Abacus Property Group Ltd, Fortis Mining Ltd, Hyperion Flagship Investments Ltd, Industrea Ltd, Brumby Resources Ltd, Emerald Oil & Gas NL, Fleetwood Corporation Ltd, Hire Intelligence International Ltd, Jupiter Mines Ltd, Kalgoorlie Mining Company Ltd, Manhattan Corporation Ltd, Mining Group Ltd, Sunland Group Ltd.
Remuneration reports at Leighton, Seven and Wesfarmers will be focal points for shareholders this week.
In Asia, the Chinese October economic data which is due Wednesday is expected to confirm that growth and inflation are continuing to cool.
The AMP’s chief economist, Dr Shane Oliver says, "We expect inflation to slow to 5.4% (from 6.1% in September) helped by falling food price inflation and indicators for retail sales, industrial production, fixed asset investment, exports and money supply growth to all show a further modest loss of momentum.
"Falling inflation and moderating growth all point to policy easing," he wrote at the weekend.
The Bank of Korea will meet on Friday to look at a possible interest rate move. But a slowdown in the eocnomy might keep the central bank on hold.
In Japan, earnings reports continue to be released with Toyota’s the most important. It’s the third of Japan’s big car companies to report earnings and releases its results tomorrow..
Honda said profit fell 56% in the half year to September 30, but Nissan saw a small, 3% dip, in the same period.
In the US, small business optimism (due Tuesday) and consumer sentiment (Friday) are likely to remain soft and the trade balance (due Thursday) is likely to deteriorate slightly.
The Fed issues consumer credit figures for September tonight with a small rise forecast by some analysts.
In addition, a speech by Fed Chairman Ben Bernanke on Wednesday will be watched for clues as to whether or when we will see another bout of monetary easing.
US analysts say that with results in from some 433 of the S&P 500 companies, 70% have beaten forecasts on third-quarter earnings, defying views that growth would be hit by the problems in Europe and a slower economy in China.
Analysts have said earnings growth has helped to support the market and has taken some of the focus away from Europe, even if just momentarily.
Retailers, including Macy’s, are expected to dominate earnings results this week. We will also get reports from food service group Sysco Corp, the online travel operator Priceline.com Inc, computer games group Activision Blizzard Inc, tech giant Cisco Systems Inc, Walt Disney Co and graphics group and Nvidia Corp.
In Europe, the
