HSBC, the world's second-biggest bank by market value, grabs the spotlight at the tail-end of the European earnings season this week, with the euro and interest rates also in focus.
HSBC's annual pre-tax profit is forecast to jump 34 percent to $12.91 billion when it reports on Monday, boosted by its take-over last March of Household, a US firm that lends to people with poor credit histories.
But investors will take a keen interest in the level of provisions for bad and doubtful debts.
"Household has dramatically increased the overall level of (bad debt) provisions at HSBC," said WestLB's James Hamilton, who rates the stock a "sell".
Among other financial stocks, French-Belgian bank Dexia reports 2003 results on Thursday, as does Belgian financial group KBC. British insurer Britannic and UK fund manager Schroders report on Tuesday.
The world's number two retailer Carrefour reports on Thursday, along with French retail-to-luxury group Pinault Printemps Redoute.
The world's top luxury goods group LVMH reports on Wednesday, with a Reuters poll of analysts expecting a 7.2 percent rise in full-year operating profit.
Interest rate decisions are likely to dominate the macroeconomic picture this week in Europe.
The European Central Bank (ECB) meets in Frankfurt on Thursday to discuss euro zone interest rates, but a Reuters poll overwhelmingly predicts no change in its historically low rate of two percent.
"I wouldn't say there is necessarily any expectation of a cut in ECB interest rates, but that subject is beginning to be raised again," said John Hatherly, head of global analysis at M&G Asset Management.
Strength in the euro, which went to a record high of over $1.29 earlier this month, makes European goods more expensive in the US market, he said. A cut in euro zone interest rates would be one way of reining in the rampant currency.
The Bank of England discusses UK rates on Thursday, too.
The week's top data include Monday's US Institute for Supply Management index on manufacturing activity, and Friday's US payrolls, which the Federal Reserve watches closely to help it decide on the future course of interest rates.
CURRENCY IMPACT: Exchange rate movements will remain a key focus, especially for companies exporting to the US
"Currency has been a factor cited by a lot of companies in their reporting," Hatherly said.
Dutch brewer Heineken warned earlier this week the dollar's slide would take a big bite out of 2004 profits. Belgian rival Interbrew will report on Wednesday.
Dollar weakness has also hit European car makers, but Hatherly said Germany's Porsche could show resilience to currency turbulence when it reports on Monday.
Meanwhile, results from media and luxury goods firms may give clues on consumer sentiment in the nascent recovery.
British publisher Pearson and French advertising company Havas also report this week.
In the construction sector, another bellwether for economic recovery, French road-builder and infrastructure company Vinci reports on Tuesday, as does British house-builder Taylor Woodrow. RMC, the world's largest producer of ready-made concrete, follows on Wednesday.
Europe's largest airline British Airways will say how many passengers it carried in February on Wednesday, followed by Scandinavia's SAS and no-frills carrier Easyjet on Friday.
Two other British transport firms publish full-year results on Thursday - ferry operator P&O and train operator Arriva.
German trucks and engineering group MAN reports on Thursday, following Swiss industrial engineering firm Sulzer on Wednesday.
Other notable results this week include Europe's biggest hotelier Accor on Wednesday, Dutch specialist food group Numico and French utility group Suez on Thursday, and German drug maker Schering on Friday.
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