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Next Week At A Glance

Weekly Reports | May 16 2014

This story features JAMES HARDIE INDUSTRIES PLC, and other companies. For more info SHARE ANALYSIS: JHX

For a more comprehensive preview of next week's events, please refer to "The Monday Report", published each Monday morning. For all economic data release dates, ex-div dates and times and other relevant information, please refer to the FNArena Calendar.

By Greg Peel

It’s been a week in which the world turned to the safety of developed market government bonds, specifically those of the US, Germany and the UK, as more investors followed the lead of those choosing yield over risk. With questions being raised over the true strength of the US recovery, and an ECB easing now more probable than possible, bond markets continued to eschew popular forecasts and stock markets started to worry if all-time highs were a mistake.

Recent US data have been divergent and unconvincing and tonight and next week will bring more evidence to ponder in the form of consumer sentiment, housing starts, existing and new home sales, a flash reading on the manufacturing PMI and a leading economic indicator. The minutes of the last Fed meeting will be released on Wednesday and Janet Yellen will also make a speech that day. Markets will be looking for any sign of a possible taper of the tapering.

China and the eurozone will also see flash manufacturing readings while the UK will revise its first estimate of March quarter GDP and Germany’s IFO business sentiment survey will be released.

Westpac’s monthly consumer confidence survey will be the economic highlight in Australia while there’ll again be plenty to consider on the corporate front.

DuluxGroup ((DLX)), James Hardie ((JHX)) and Thorn Group ((TGA)) will release earnings results while Transurban ((TCL)) and BT Investment Management ((BTT)) will provide updates and the AGM season will roll on. Aurora Oil & Gas ((AUT)) shareholders will meet to no doubt accept a takeover offer while Arrium ((ARI)) will provide a quarterly production report.

The US ten-year bond yield, now at 2.5%, should see strong technical support at 2.4%. If it gets that far, the stock market will really start to worry.
 

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CHARTS

AUT JHX TCL TGA

For more info SHARE ANALYSIS: AUT - AUTECO MINERALS LIMITED

For more info SHARE ANALYSIS: JHX - JAMES HARDIE INDUSTRIES PLC

For more info SHARE ANALYSIS: TCL - TRANSURBAN GROUP LIMITED

For more info SHARE ANALYSIS: TGA - THORN GROUP LIMITED