The UK stock market will be shut for the new year bank holiday. However, the remainder of the week may see City hopes of a further cut in the interest rate power a continuing surge in the FT-SE 100 index, after it closed at 3,418 at midday on Friday. The post-Christmas lull will produce a relatively quiet few days on the corporate front, with only a handful of companies due to report. In the US, the figure for November's construction spending is expected to be flat.
Torex Hire, which specialises in renting out small plant and catering equipment, will be alone in reporting its finals. An extensive cost-cutting programme should see losses reduced from last year's figure of pounds 335,000.
The UK's Official Reserves for December are predicted to show a small drop. A batch of gloomy indicators is expected to confirm the continuing sluggishness of the German economy, with increasing unemployment and fewer vacancies in former West Germany, though unemployment in what was previously East Germany should show a small fall.
The German Bundesbank will hold a council meeting. Motor car retailer Reg Vardy is likely to unveil improved interim results. A small clutch of other companies including Abbey, the property developer, Cassidy Brothers, which makes toys and sports goods, and Druck, the electronic instruments manufacturer, will also deliver their interim results.
The December figure for the UK's narrow money supply will be released. The US unemployment rate is expected to stay flat at 6.5 per cent, in line with 6.4 per cent in November.Reuse content