WEEKAHEAD-The view from Reuters editors in EMEA

Fri Nov 6, 2009 11:50am EST
 
[-] Text [+]
LONDON, Nov 6 (Reuters) - Following is the view from Reuters
editors in Europe, the Middle East and Africa on the news that
is likely to matter most for the week ahead starting Nov 7.
 
 -- C BANKERS & ECOFIN - G20 follow-up in Europe
-- KRAFT/CADBURY - Deadline for bid
 -- BANKS Q3 - HSBC, Barclays results
 -- EUROPEAN Q3 GDPs - Key to ECB's next move
 -- GOLD - New heights eyed and industrial metals follow
 -- REUTERS HEALTH SUMMIT - Top industry execs meet in NYC
 -- OIC SUMMIT - Ahmadinejad, Karzai, Bashir, Assad expected
 -- RUSSIA STATE OF THE NATION - New initiatives from Medvedev?
 -- CLIMATE - UN deal deadline looks doomed
 -- END OF THE WALL- World leaders fete 20th anniversary
 
 C BANKERS & ECOFIN
 Hot on the heels of the G20 we have the Global Economy
Meeting of central bankers in Basel on Sunday/Monday, with
doorstepping on Sunday a news conference led by ECB chief
Trichet on Monday. Euro group and ECOFIN meetings of finance
ministers on Monday/Tuesday will also focus on the outcome of
the G20 and the European Commission's recent major growth and
deficit forecasts. Greece will probably emerge as the bad boy of
Europe again. (andrew.torchia@reuters.com)
 KRAFT/CADBURY
 With the put up or shut up deadline set for Monday at 1700
GMT, we are on alert from for any whiff of an announcement from
Kraft (KFT.N) and any sign of an 11th hour competing bid. Part
of any offer will be valuation with analysts now uncertain
whether Cadbury (CBRY.L) would fetch more than 8 pounds a share
 (chris.wickham@reuters.com)
 Q3 BANK RESULTS
 HSBC (HSBA.L), Barclays (BARC.L), Unicredit (CRDI.MI), and
Credit Agricole (CAGR.PA) - underlying investment bank
performance in focus after weak RBS showing. Bonuses and asset
sales still hot themes and geographical exposure - HSBC to Asia,
Unicredit to eastern and central Europe.
 (chris.wickham@reuters.com)
 Q3 GDP
 Flash euro zone Q3 GDP data (preceded by German and French
releases) will help shape expectations of when the ECB will
begin to withdraw excess liquidity. Expected to be relatively
strong (about 2 pct annualised or 0.5 pct q/q). Also expected to
be a better reflection of improving PMIs than UK GDP was. Such
considerations are key drivers of euro/sterling and the
gilt/Bund spread which has widened to close to its year highest.
 All the more so given the BOE Inflation Report next week will
show the UK central bank's view on the mid-term inflation
outlook, the basis on which it decided to expand its QE
programme, and just how long it expects the economy to require
its support.
 ** Industrial production from Germany Monday, France and
Italy Tuesday, Euro Zone Friday
 ** German ZEW Tuesday
 (andrew.torchia@reuters.com)
 MORE FROM GOLD?
 Markets still gunning for record highs, this time with the
added impetus of Central Banks in emerging Asian and Central
American markets becoming possible buyers of the precious metal.
Not to be outdone, industrial metals including platinum,
palladium and rhodium are vying for new multi-month highs
spurred on by hopes of a nascent recovery in the auto sector.
 (barbara.lewis@reuters.com)
 REUTERS HEALTH SUMMIT
 A dozen Reuters reporters cover speakers from the leading
healthcare companies, including Pfizer, GlaxoSmithKline, Merck,
Novartis, AstraZeneca, Novo Nordisk and Eli Lilly, plus top
insurers and the commissioner of the Food and Drug
Administration - Nov 9-12. (chris.wickham@reuters.com)
 AHMADINEJAD, KARZAI, BASHIR, ASSAD AT OIC SUMMIT
 Organization of the Islamic Conference summit in Istanbul
sees heads of state and government arrive Nov 8 and get down to
business Nov 9. Event likely to be overshadowed by the presence
of Iran's Ahmadinejad and Sudan's Bashir. Syria's Assad,
Palestinian PM Fayyad, Yemen's President Saleh as well as heads
of state of Qatar, Kuwait, Kyrgyzstan, Bangladesh and Jordan
will also attend. Saudi Arabia's delegation will be headed by
the foreign minister. The summit is billed as an economic and
commercial summit of the OIC, but obviously the story will focus
on Ahmadinejad/Iran/West, Bashir/ICC/Darfur,
Saleh/Yemen/relations with Saudi and instability,
Palestinian/Arab peace process with Israel.
 (janet.mcbride@reuters.com)
 RUSSIA STATE OF THE NATION
 President Dmitry Medvedev will give annual state of nation
address on November 11 or 12 (12 more likely). He may use the
annual setpiece to announce new measures but more likely to
highlight the extent to which true power lies with Vladimir
Putin. 
 ** AvtoVaz restructuring story also in focus this week
 ** Rusal debt deal expected Nov 12
 (janet.mcbride@reuters.com)
 
 CLIMATE
 After Barcelona talks delivered zero progress towards a
legally binding deal, it is likely the most we can expect from
Copenhagen is a politically binding deal and as much as year to
to sort out the legal niceties.  World leaders will attend the
Dec talks to try to add impetus. See the Road to Copenhagen
Take-a-Look. [ID:nLL527527] (janet.mcbride@reuters.com)
 
 END OF THE WALL
 Clinton, Medvedev, Sarkozy and Brown among the many who will
join Merkel on Monday evening to commemorate 20 years since the
opening of the Berlin Wall. France holds its own Berlin Wall
celebrations on Monday evening with a party in the central Place
de la Concorde. Then on Nov. 11, for the first time, a German
chancellor has been invited to WW1 armistice day celebrations at
the Arc de Triomphe, in a sign the French are seeking to
revitalise their ties with Germany, hoping that together they
can dominate the European Union post Lisbon.
(janet.mcbride@reuters.com)
 
 ECONOMIC DATA
 
 MONDAY, NOVEMBER 9
 0700 - German exports Sep 
 0730 - Bank of France economic survey 
 0930 - Euro zone sentix survey 
 1100 - German industrial production
 TUESDAY, NOVEMBER 10
 0001 - UK BRC retail sales Oct 
 0700 - German CPI, final Oct 
 0745 - French industrial production, Sep 
 0750 - French industrial investment, 12 months 
 0900 - Italy industrial production, Sep 
 0930 - UK trade, Sep 
 1000 - German ZEW investor survey, forecast 55
 WEDNESDAY, NOVEMBER 11
 0930 - UK average earnings 3m yy, Sep 
 0930 - UK jobless, Oct
 THURSDAY, NOVEMBER 12 
 0700 - German wholesale prices 
 0745 - French current account, Sep 
 1000 - Swiss ZEW investor survey, Nov 
 1000 - Euro zone industrial production, Sep
 FRIDAY, NOVEMBER 13
 0700 - German Q3 GDP flash estimate, fcast 0.8 pct 
 0740 - French inflation final, Oct 
 0745 - French payroll Q3 
 0750 - French Q3 GDP flash estimate 
 0815 - Swiss PPI. Oct 
 0900 - Italy Q3 GDP flash estimate 
 1000 - Euro zone Q3 GDP flash estimate
 
 TAKE-A-LOOK-Five world markets themes next week
  [MKT/THEMES]
 
 (Editing by Jason Neely)


 

More News

DIARY - Germany - to December 3
Friday, 6 Nov 2009 01:00am EST 
DIARY - Germany - to Nov. 13
Thursday, 15 Oct 2009 01:30am EDT 

Editor's Choice

A selection of our best photos from the past 24 hours.  Slideshow 

Most Popular on Reuters

  • Articles
  • Video