Week ahead: US and Japanese data in the spotlight

Despite most market operators having already squared their trading books in the run-up to Christmas, quite a few first-tier macroeconomic indicators are scheduled for release in the coming week.

Foremost among those will be reports on durable goods orders, personal income and spending, and new home sales for the month of November.

Data on Japanese consumer prices and unemployment at the end of the week will also be closely watched, given that some analysts are still holding out for more monetary stimulus from the Bank of Japan.

In the Eurozone, the key event may well be Spain´s national elections on 20 December, given the importance of that periphery economy.

The political dynamics in that Mediterranean country bear a close resemblance to those in its regional neighbours.

Although the economy appears to be on the mend, the pace of recovery is still seen as painfully slow for the many who have had to endure a sometimes brutal worsening in their economic conditions, with half a generation of young people still facing the prospect of remaining permanently locked out ofthe labour market.

Back in Britain, and given the fiscal headwinds the country is facing, the focus will be on Tuesday´s release of November´s public sector borrowing figures.

Monday December 21

INTERIM DIVIDEND PAYMENT DATE
Establishment Inv Trust, General Industries, LondonMetric Property

QUARTERLY PAYMENT DATE
UIL Limited (DI)

QUARTERLY EX-DIVIDEND DATE
Total SA

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Confidence Indicator (EU) (10:00)
Producer Price Index (GER) (07:00)

GMS
Betfair Group, Findel, Journey Group, Proactis Holdings

EGMS
Paddy Power

AGMS
Frontier IP Group, Octagonal, Red Rock Resources, Resource Holding Management Limited (DI)

UK ECONOMIC ANNOUNCEMENTS
CBI Distributive Trades Surveys (11:00)

FINAL DIVIDEND PAYMENT DATE
Fidelity Special Values, Lok'n Store Group, Smart (J) & Co., Utilitywise plc

Tuesday December 22

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Existing Home Sales (US) (15:00)
GDP (Final) (US) (13:30)
GFK Consumer Confidence (GER) (07:00)
House Price Index (US) (15:00)

SPECIAL EX-DIVIDEND PAYMENT DATE
Canadian General Investments Ltd.

EGMS
Air China Ltd., Datang International Power Generation Co Ltd., Zhejiang Expressway Co 'H' Shares

AGMS
GoldStone Resources Ltd, Upland Resources Limited (DI)

UK ECONOMIC ANNOUNCEMENTS
Consumer Confidence (09:30)
GFK Consumer Confidence (00:05)
Public Sector Finances (09:30)

FINAL DIVIDEND PAYMENT DATE
Northern Venture Trust, St Ives

Wednesday December 23

INTERIM DIVIDEND PAYMENT DATE
Downing Four VCT DP2011 Low Carb, Downing Four VCT DP2011 Str, Downing Four VCT DP2011Gen, Investec, Record

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
15:00 - U. of Michigan Confidence (Final) (US) (15:00)
Building Permits (US) (13:30)
Crude Oil Inventories (US) (15:30)
MBA Mortgage Applications (US) (12:00)
New Homes Sales (US) (15:00)
Personal Consumption Expenditures (US) (13:30)
Personal Income (US) (13:30)
Personal Spending (US) (13:30)

GMS
Eco City Vehicles

AGMS
Aurora Russia Ltd., Churchill Mining, Mosman Oil and Gas Limited (DI), Regency Mines, Tiso Blackstar Group SE (DI)

UK ECONOMIC ANNOUNCEMENTS
Balance of Payments (09:30)
Current Account (09:30)
GDP (quarterly national accounts) (09:30)
Index of Services (09:30)

FINAL DIVIDEND PAYMENT DATE
Downing Four VCT DSO 'B' Shs

Thursday December 24

INTERIM EX-DIVIDEND DATE
Acal, BT Group, Burberry Group, Ensor Holdings, Fair Oaks Income Fund Limited C Shs NPV, Fulcrum Utility Services Ltd. (DI), Gateley (Holdings) , KCOM Group, Premier Farnell Cum Cnv Red Prf (Sterling Coupon), Premier Farnell Cum Conv Red Pref Shs 1(USD Cpn), RPC Group, Vertu Motors

QUARTERLY PAYMENT DATE
Bank of America Corp., Duet Real Estate Finance Ltd

QUARTERLY EX-DIVIDEND DATE
Schroder Income Growth Fund

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Continuing Claims (US) (13:30)
Initial Jobless Claims (US) (13:30)

SPECIAL DIVIDEND PAYMENT DATE
Polymetal International

SPECIAL EX-DIVIDEND PAYMENT DATE
M Winkworth

AGMS
Emerging Market Minerals

UK ECONOMIC ANNOUNCEMENTS
BBA Mortgage Lending Figures (09:30)

FINAL DIVIDEND PAYMENT DATE
Pan African Resources

FINAL EX-DIVIDEND DATE
Cambria Automobiles, Elegant Hotels Group , Grainger, Inland Homes, Schroder Asia Pacific Fund

Friday December 25

EGMS
PJSC RusHydro ADR