Business and City Summary

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Property rental boom slows

Annual returns - capital growth and rental income - in the UK property market, including office, industrial and retail, have slowed from a peak of 29.3 per cent in April to 26.1 per cent in the six months to June, according to the Richard Ellis Monthly Index.

Capital values in the office sector fell, for the third month in a row, by 0.5 per cent and only retail properties avoided a fall in rents.

Venezuelan exchange

The Venezuelan government yesterday announced details of its new controlled foreign exchange system, saying the priority was to make dollars available for the importing of basic materials. The new currency accord was approved by President Rafael Caldera's cabinet on Saturday and will come into effect today when the market is due to reopen with the bolivar fixed at 170 to the dollar.

Second coffee blow

Frost struck coffee growing farms in southern Minas Gerais, Brazil's biggest coffee growing state again early yesterday and growers said the effects were harsher than the freeze that hit the area two weeks ago. After that damage the Brazilian government lowered its preliminary estimate for the 1995/96 coffee crop, sparking higher coffee prices.

TODAY 11.7.94

UK producer price index numbers (Jun).

Interims: Emerald Energy, First Philippine Inv, Gartmore Br Income & Growth, Low & Bonar, Merchants Trust (Q1).

Finals: Bromsgrove Industries, D C Cook, Drew Scientific Group, Ellis & Everard, Hamlet Group, Shield Diagnostics, Tamaris, Tomkins.

TUESDAY 12.7.94

UK construction - new orders (May), US producer prices (Jun).

Interims: General Consolidated Inv Trust, St Modwen Properties.

Finals: Birse Group, Electron House, Equity Consort Inv Trust, Real Time Control, Rexmore, Savills, John Tams, Triplex Lloyd, Jacques Vert, John D Wood.


UK retail prices index (Jun), labour market statistics: unemployment and unfilled vacancies (Jun - prov), average earnings indices (May - prov), employment, hours, productivity and unit wage costs, industrial disputes, capital issues and redemptions (Jun), index of production and construction for Wales (Q1). US consumer prices (Jun).

Interims: Owners Abroad.

Finals: Aberforth Split Level, H P Bulmer, Colorvision, Cray Electronics, Fleming Intl High Income, Malvern UK Index Trust, Secure Retirement, Trifast.

THURSDAY 14.7.94

UK machine tool orders (May), US retail sales ( Jun).

Interims: Fleming American Inv Trust, A Kershaw & Sons, Olim Convertible Trust (div), Rank Organisation, Throgmorton Trust.

Finals: Barbour Index, Druck Holdings, EFM Japan Trust, Fleming Geared Income, Great Universal Stores, Hampson Industries, Heiton Holdings, Jones Stroud, Peel Holdings, Pelican Group, Prism Leisure, Stewart & Wight.

FRIDAY 15.7.94

UK usable steel production (Jun), US industrial production (Jun), manufacturing production (Jun), consumer sentiment (Jul).

Interims: Aberforth Smaller Companies, Amicable Smaller Enterprises Trust, Automated Security.

Finals: Investment Co, Moorgate Investment Trust.