Friday 28 July 2017

Week 8: Bank of Ireland to report new results

Bank of Ireland CEO Richie Boucher. Photo: Frank McGrath
Bank of Ireland CEO Richie Boucher. Photo: Frank McGrath
Gavin McLoughlin

Gavin McLoughlin

It's a busy week for results with Bank of Ireland, Kerry Group, Glanbia, Green REIT and Aer Lingus parent IAG all due to report figures.

Bank of Ireland will be most closely scrutinised as a bellwether for the effect of Brexit on the Irish economy - its shares were pummelled after the June referendum. Investors have been awaiting a first post-crash dividend - will it be announced tomorrow by ceo Richie Boucher?

On the economy, the Quarterly National Household Survey for the last quarter of 2016 will be released tomorrow, providing fresh insights into the state of the employment market. A further reduction in jobless numbers (50,000) is forecast by Merrion Capital. Inflation figures are also due this week.

In Europe, eurozone finance ministers are meeting in Brussels today and it will be déjà vu, with the position of Greece set to be high on the agenda. Debt repayments in the order of €7.5bn are due in July and rows are likely over the conditions the country will be forced to meet to be kept afloat.

Meanwhile, a purchasing managers' index for the eurozone will be out tomorrow and will provide a snapshot of the state of the economy.

Irish Independent

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