Europe's new earnings season kicks off in earnest this week, though stock market investors will also cast a wary eye on the Federal Reserve for clues on when US interest rates might rise.
Technology and drug groups such as Ericsson and Novartis will hog the spotlight, with high-profile food group Nestle scheduled to report also.
Investors hope the new results season will be bullish enough to counter the pressure from fears of US rate hikes so that bourses climb again. Upbeat company outlooks will be key in paving the way for this.
"In most cases people are not too focused on the numbers. It's all about the statements," said Gary Dugan, global strategist at J.P. Morgan Fleming.
Many European firms sell in the United States where the dollar's recent weakness eroded revenues converted into euros.
Chipmakers Infineon and STMicroelectronics, and chip equipment maker ASML report on Wednesday, but will vie with the week's top economic milestone - a speech from Federal Reserve Chairman Alan Greenspan.
Greenspan will update US Congress on the American economy, and investors hope this will yield that whether the central bank will raise borrowing costs soon. Markets bet the Fed will move in August after a string of strong US economic figures.
European shares, up about six percent for the year, are struggling to make further headway as investors try to gauge how higher US rates would impact earnings, stock valuations, and returns on stocks against other assets such as bonds.
Other tech firms reporting next week include Britain's chip designer ARM Holdings on Tuesday, German software firm SAP on Thursday, and Swedish telecommunications equipment maker Ericsson on Friday.
Ericsson has already given a strong flavour of its results after it reiterated its full year market outlook in early April and forecast it would pay a dividend for 2004.
Ericsson's handset-making joint venture with Japan's Sony reports on Monday and is expected to reveal a 44-million euro first-quarter pre-tax profit, up from a 113 million euro loss the year before.
Investors ponder to what extent they should shift into defensives such as drugs to shield themselves for a US rate rises which analysts believe could end a bull run in cyclicals. The week's earnings from some key drug, food and beverage groups could help investors make up their minds.