Business and City Summary

Single currency by 1997 unlikely

The chances of a majority of EU countries being able to merge their currencies in 1997 are at best slim, according to Henning Christophersen, the European economic affairs commissioner.

'There is a general consensus that it would be better to wait until 1999,' he said. 'Unless we get 3 per cent (economic) growth in 1996 and more in 1997, it will be impossible.'

TODAY: 13.6.94

Producer price index (May), capital issues and redemptions (May).

Interims: Prospect Industries, Unidare.

Finals: Banner Homes Group, James Cropper, Cullen's Holdings, Jarvis, Oriflame International, Christian Salvesen, Umeco.

TOMORROW: 14.6.94

Construction - new orders (Apr). CBI survey of distributive trades (May). US: retail sales (May), consumer prices index (May).

Interims: Berisford International, Hawtin, Lazard High Income Trust (3rd interim div), David Lloyd Leisure, Neotronics Technology, Slimma.

Finals: ACT Group, Amberley Group, Applied Holographics, Attwoods (3rd quarter), BSS Group, Bradford Property Trust, Charter, East Surrey Holdings, F&C Smaller Cos, Grand Central Inv Holdings, Marshalls, Oceana Consolidated, Volex Group, Severn Trent, Symonds Engineering, Unigate, Wellman, Whitecroft, Wrexham & East Denbighshire Water.

WEDNESDAY: 15.6.94

Retail prices index (May). Labour market statistics: unemployment and unfilled vacancies (May, prov); average earnings indices (April, prov); employment, hours, productivity and unit wage costs; industrial disputes Labour force survey (winter 1993-94). US: industrial production (May), current account (1st quarter).

Interims: Allders, Alvis, Burndene Investments, London Scottish Bank, NFC, Southern Business Group.

Finals: British Thornton, Drayton Recovery Trust, Exmoor Dual Inv Trust (3rd quarter), C E Heath, Hicking Pentecost, London Electricity, Mansfield Brewery, Marston Thompson & Evershed, Mountview Estates, Robert Wiseman Dairies, Stirling Group, Thames Water, Ugland International.

THURSDAY: 16.6.94

Public sector borrowing requirement (May). Retail sales (May). Financial statistics (June). Provisional figures for vehicle production (May). US: housing starts (May).

Interims: Bradstock Group, Denmans Electrical, Osprey Commns, RCO Support Services, Tor Inv Trust.

Finals: AAH Holdings, Brockhampton Holdings, Chester Water, Chloride Group, Embassy Property Group, FKI, Hardy Oil & Gas, London Merchant Secs, Moorgate Smaller Companies Inv, Penna, Porter Chadburn, Portsmouth Water, Protean, Regalian Group, Safeland, Smith New Court, Southern Water, South Wales Electricity, Thomas Locker (Holdings), Tinsley Robor.

FRIDAY: 17.6.94

Company liquidity (1st quarter).

Interims: Grainger Trust, Greenwich Communications, Henderson Strata Inv.

Finals: Cambridge Water, Cheam Group, Dares Estates, Davenport Knitwear, Faupel Trading Group, James Latham, Portsmouth & Sunderland, VTech Holdings, Wainhomes, Wintrust.