NEWS and events in the farming community have quite rightly pushed stock market news off the radar.

The continuing drift in share prices will also bury market news below the more visible drifts of snow.

The UK market remains mesmerised by the unfolding economic and company news from the US where, on balance, economic data has been positive whilst company news has been disappointing.

The pace of economic decline remains the key, as the US fed will undoubtedly cut interest rates further in order to manage the decline successfully.

Back here in the UK the minutes from February's monetary policy committee showed unanimous support for the recent quarter point cut in interest rates.

The latest economic data shows only modest signs of a slowdown with consumer spending remaining strong.

Irrespective of UK data we are likely to see a further cut in UK rates if continued US economic weakness results in a cut in US interest rates.

This week will see a wide range of UK company results providing us with an insight into economic conditions late last year. Of equal importance will be the comments regarding current and expected trading conditions.

Tomorrow sees results from BAE Systems, formerly British Aerospace. The share price has languished since the company announced a heavy restructuring programme in January. 2001 looks set to be flat with next year showing only modest growth.

The cost of the last six months' bad weather will be visible in figures from Royal & Sun Alliance. While losses from bad weather are expected, news on general insurance premium rates will also be of interest.

Friday sees results from Rolls Royce and Psion, both of whom have issued profit warnings in the past few months. Given the current lack of appetite for technology stocks, Psion will need to re-assure investors of good progress at its' mobile computer operating system joint venture, Symbian.

John Pearson - Associate Director

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