The week ahead: 08/05/23
Look out for earnings this week from DAX 40 components E.ON, Continental, Brenntag, Deutsche Telekom, Merck, Bayer, RWE, Hannover Re and Allianz, along with Disney, Manulife, Telefónica Deutschland, Salzgitter, ThyssenKrupp and ITV. We’ll also have updates from Halifax and RICS on the UK housing market, plus the latest US, Chinese, and French CPI, UK GDP and the Bank of England’s monetary policy decision.
Monday 8 May
While UK markets are closed for Monday’s special bank holiday, we’ll have earnings from Canadian energy company Suncor, medical supplier McKesson, investment manager KKR, oil and gas producer Devon, food processing firm Tyson, theme park operator Six Flags, semiconductor maker Skyworks, healthcare real estate firm Ventas, infrastructure consultant Aecom, computer drive manufacturer Western Digital and big data firm Palantir. Also watch out for the latest Japanese services PMI, Australian NAB business confidence and German industrial production.
Our economic calendar keeps you ahead of the market-moving events.
Tuesday 9 May
The UK housing market will be in the spotlight with Tuesday’s Halifax house price index for April. In March the average UK house price rose 1.6% year-on-year and 0.8% month-on-month. Other data includes the BRC’s UK retail sales monitor, Japanese household spending, Australian Westpac consumer sentiment and China’s trade balance. Updates are due from rental marketplace Airbnb, energy generator Duke, specialty gas and chemicals supplier Air Products, oil and gas firm Occidental, video game maker Electronic Arts, lab tech supplier Waters, pharma firms Perrigo and Halozyme, weapons tech developer Axon, professional services group Jacobs, mining company Kinross and sportswear company Under Armour.
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Wednesday 10 May
Entertainment giant Walt Disney heads the earnings on Wednesday. The theme park operator is embroiled in a dispute with Florida governor Ron DeSantis over the special tax district in Orlando that includes Disney World. Also reporting to the market are DAX 40 components E.ON, Continental and Brenntag, insurance company Manulife, foodservice group Compass, pharma firms Teva and Jazz, manufacturing multinational Flex, O2 operator Telefónica Deutschland, cooking equipment firm Middleby, German chemicals company Lanxess, web services group United Internet, steel producer Salzgitter, mining company Pan American Silver, fashion group Fossil and online deal site Groupon. In the US we’ll have April CPI data and the federal budget balance.
Trade energies, metals and other popular commodities.
Thursday 11 May
Five more DAX components report on Thursday: Deutsche Telekom, Merck, Bayer, RWE and Hannover Re. Figures are also due from private equity group 3i, medtech firm PerkinElmer, aircraft engine manufacturer Rolls-Royce, enterprise software firm NICE, engineering conglomerate ThyssenKrupp, civil engineering multinational Bilfinger, media company ITV and German property firm TAG Immobilien. We’ll also have more UK housing market data from RICS, the Japanese current account and Chinese CPI, while the Bank of England announces its latest decision on UK interest rates at midday, after last time raising the base rate by 25 basis points to 4.25%.
Take your own view on UK, US and European equities.
Friday 12 May
We’ll get an update on the health of the UK economy on Friday with preliminary Q1 and monthly GDP data, plus the March trade balance. Other key data includes French CPI, US import and export price indices and the University of Michigan consumer sentiment index. Specialist insurer Beazley posts first-quarter results, along with German financial services group Allianz, currently looking to offload its stake in fintech firm N26.
Published: 8 May 2023
You should under no circumstances consider the information and comments provided as an offer or solicitation to invest. This is a macro summary of scheduled news announcements and is not investment advice, independent research or an investment recommendation. The information provided is believed to be accurate at the date the information is produced.