WEEKAHEAD-The view from Reuters editors in EMEA

Fri Oct 30, 2009 11:52am EDT
 
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LONDON, Oct 30 (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 Oct 31.

-- G20 FINANCE MINISTERS MEET - spotlight on weak dollar -- CLIMATE CHANGE - last U.N. meeting before Copenhagen -- CENTRAL BANKS MEET - more stimulus in Britain, ECB cagey -- BANK EARNINGS - still increasing provisions for bad loans -- AUTOS IN FOCUS - Opel decision; autos summit -- OIL PRICE KNOCKS PRODUCERS - earnings from oil companies -- IRAN COUNTER-OFFER - tougher sanctions imminent? -- CLINTON IN MIDDLE EAST - chance to restart talks?

G20

Finance ministers and central bankers of the Group of 20 nations meet in Scotland on Friday and Saturday and are expected to discuss the weakness of the dollar, reform of financial regulation, climate change, rebalancing the global economy, withdrawing stimulus policies, and possibly curbing speculation in the oil and commodities markets. The foreign exchange market will be sensitive to anything on the dollar; the EU's top economic official called this week for the G20 to coordinate foreign exchange policies. [ID:nLT265111] (andrew.torchia@reuters.com)

CLIMATE CHANGE

Climate negotiators from 175 nations meet in Spain on Nov. 2-6 for a final session to try to break deadlock between rich and poor countries and salvage a UN deal due in Copenhagen in December. On Friday, EU leaders resolved a funding dispute, improving the changes of securing such a deal but the United States has yet to agree legislation to cut emissions. [ID:nLU584151] [ID:nLT328380]

G20 finance ministers will also discuss climate change financing at the Scotland summit. (janet.mcbride@reuters.com; camila.reed@reuters.com)

CENTRAL BANKS MEET

The Bank of England and the European Central Bank meet on Thursday. The latest Reuters poll of analysts shows the BOE is expected to announce an increase in its quantitative easing programme, probably by 25 billion pounds ($41.38 billion) to 200 billion -- a big change in expectations. [ID:nLAG005868]

By contrast the ECB is likely to give few clues on its plans for withdrawing stimulus; rates are expected to stay on hold until the end of the third quarter next year. [ID:nLAG005867] (andrew.torchia@reuters.com)

BANK EARNINGS

Several banks report earnings, including UBS (UBSN.VX) on Tuesday, Societe Generale (SOGN.PA) (Wednesday), BNP Paribas (BNPP.PA) and Commerzbank (CBKG.DE) (Thursday). Looking at performance of investment banking arms and keen to see whether banks are still making higher provisions for loan losses and why. (chris.wickham@reuters.com)

  Continued...

 

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