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Coming up 11-17 March 2013

Coming up 11-17 March 2013

11 March 2013

Welcome to Unite’s brief on what’s coming up this week.

Events

This week opens with the latest Unite Executive Council meeting and also has a focus on challenging Con-Dem cuts with the TUC’s pre-budget rally on Wednesday, and from the misery of the Con-Dem cuts there will be some light relief with Comic Relief this Friday, although remember that behind the comedy is the continued tragedy of a world that remains unequal. Comic Relief also supports work in the UK as well as overseas and has funded 15,786 projects in the UK to date.

 11-15 March – Unite Executive Council meeting

 

 Politics and parliament

Coming up in parliament: The week in Westminster starts with Iain Duncan Smith under the spotlight with work and pensions’ questions both in the Commons and in select committee; the highlight in the Lords is a short debate on the Francis report. Osborne will be under the spotlight on Tuesday for Treasury questions which is followed by a debate on tax fairness, expect Osborne to continue to back bankers’ bonuses while the Lords has a motion to regret the Trade Union and Labour Relations (Consolidation) Act 1992. PMQs is Wednesday’s highlight followed by the changes to the courts putting the justice secretary forward and Thursday is mainly focused on backbench business as the House is not sitting on Friday.

Monday:

House of Commons: Work & Pensions questions (14:30); Financial Services (Banking Reform) bill;

Select committees: Welsh Affairs: Changes to housing benefit in Wales (14:15); Public Accounts: Responding to changes in jobcentres (15:15); Disabled Access to Transport (16:10); Work and Pensions: Draft Pensions bill (16:30);

House of Lords: Questions: Plans to tackle inequality in income and wealth in the UK (14:30); Enterprise and Regulatory Reform bill; Short Debate: Recommendations of the Francis Report 

Tuesday:

House of Commons: Treasury questions (11:30); Opposition debate  (i) Tax Fairness (ii) Apprenticeships

Select committees: Energy Prices, Profits and Poverty (09:30); Public Administration: Procurement (09:30); Scottish Affairs: Blacklisting in Employment (14:30); Liaison: Oral evidence from the prime minister (16:00)

House of Lords:  Growth and Infrastructure bill (14:30); Trade Union and Labour Relations (Consolidation) Act 1992 (Amendment) Order 2013 and Motion to Regret

Wednesday:

House of Commons: International Development (11:30); PMQs (12:00); Crime
and Courts bill

Select committees: Work and Pensions: Work Programme (10:00); Remploy Marine Fife (14:30)’

House of Lords: Legislation: Groceries Code Adjudicator bill

Thursday:

House of Commons: Energy and Climate Change questions (09:30); Business statement; Backbench bills

Select committees: Political and Constitutional Reform: Revisiting Rebuilding the House (10:00)

House of Lords: Questions: Measures to force British companies to disclose any tax avoidance schemes; The findings of the Care Quality Commission’s Home Care Inspection Review; Short Debate

Impact on the UK of future demographic trends

Friday:

House of Commons:
Not sitting

Select committees: 
Not sitting

House of
Lords:
None announced

 

 Economics and government data

Government and economy: After a quiet Monday the main data this week is UK industrial and manufacturing production figures due on Tuesday (and the NIESR should publish its latest GDP estimates), while there are also producer prices on Thursday and trade stats due on Friday. There may be some positives, but the UK economy is expected to remain on the ropes.

Companies: It’s also a quieter week in company financials, Morrison’s should give an idea of the supermarket sector on Thursday, and Volkswagen will also report on the transport side. More closely watched could be Home Retail Group which could give a idea of whether the high street could be seeing a sign of improvement while Friday sees Wetherspoon’s report on whether more people are drowning their sorrows.

Monday:

 Finals:
Escher; SOCO;

Tuesday:

Data: UK industrial and manufacturing production (09:30); UK trade (09:30); NIESR GDP estimates

 Finals: Antofagasta; Computacenter;

Wednesday:

Data: French CPI (06:30); EU industrial
production (10:00)

 Finals: 888 Holdings; French Connection; Hikma Pharmaceuticals; Hochschild Mining;

 

Thursday:

Data: UK producer prices (09:30); ECB monthly bulletin (09:30)

 Finals: Morrison Supermarkets; Trinity Mirror’ Volkswagen

 Trading update: Home Retail Group

Friday:

Data: UK balance of trade (09:30); EU CPI (10:00); US CPI (13:30)

 Interims: JD Wetherspoon

 AGMs: Hyundai Motor Company

 Finals: bwin; Rentokil;

 

Market data

It was rather a good week for the stock markets with European stocks benefiting from a positive meeting of the European Central Bank’s policy committee and positive sales of Spanish bonds while the US gained from good employment data, the FTSE advanced by almost 100 points – trends were impacted by the poor speech from Cameron – while the DAX gained some 200 points and at the point of writing the Dow Jones was up more than 250 points on the week. Japan was the star performer and finally broke through the 12,000 level.

Stock markets

 

Currencies

 

Commodities

8 Mar 2013
16:30

FTSE 100
(Last week)

(2 weeks ago)

6,475.44
6,386.39

6,338.47

6,338.51

£ buys $
(Last week)

(2 weeks ago)

$1.4929
$1.5001
$1.5259
$1.5524

Oil West Texas
(Last week)

(2 weeks ago)

$91.12
$90.88
$92.75
$95.44

Dow Jones
(Last week)

(2 weeks ago)

14,367.08
14,077.32

13,937.05

13,987.75

£ buys €
(Last week)

(2 weeks ago)

€1.1497
€1.1559
€1.1592
€1.1621

Oil Brent Crude
(Last week)

(2 weeks ago)

$109.83
$110.45
$113.80
$116.79

DAX
(Last week)

(2 weeks ago)

7,979.54
7,728.66
7,659.11

7,604.02

€ buys £
(Last week)

(2 weeks ago)

£0.8698
£0.8651
£0.8630
£0.8603

Gold $/oz
(Last week)

(2 weeks ago)

$1,577.00
$1,570.00
$1,580.00
$1,629.25

Nikkei
(Last week)

(2 weeks ago)

12,283.62
11,606.38
11,385.94
11,173.83

€ buys $
(Last week)

(2 weeks ago)

$1.2985
$1.2978
$1.3164

$1.3358

Unite takes no responsibility for accuracy

Currencies were quieter in terms of shifts over the week with the pound regaining some of its losses after the UK Monetary Policy Committee remained reserved. The dollar got a boost from the good unemployment data but in the main most currencies moved little.

Commodities fared little better, there was a modest rise in gold – although it remains below recent highs – while Brent crude dipped and Oil West Texas saw a slight gain. Expect those trends to continue going forward.

 Edited by Mik Sabiers

Note: Unite takes no responsibility for the accuracy of any of these figures or for any use to which figures may be put. The data is for general information and enjoys indicative status only. Market data does not constitute any form of advice, recommendation or arrangement by Unite and is not intended to be relied upon by anyone in making (or refraining from making) any specific investment or other decisions. Appropriate independent advice should be obtained before making any such decision.