Market Updates: E3 Expo, Paris Air Show, and UK Economic Data

Strategic Insights -

As the Electronic Entertainment Expo (E3) kicks off in Los Angeles, major gaming companies such as Electronic Arts, Sony PlayStation, Microsoft Xbox, and Ubisoft are set to reveal their latest product developments. Meanwhile, the Paris Air Show at Le Bourget is underway, featuring prominent manufacturers like Airbus and Boeing. In the UK, companies including Premier Inn, Costa Coffee, and Whitbread are reporting on their performance. The UK inflation figures are released, with the surprise resignation of Andy Harrison as chief executive of Premier Inn, and the appointment of Alison Brittain, from Lloyds Banking Group, as his successor, set to be discussed.

Key Takeaways:

  • Premier Inn and Costa Coffee report solid first-quarter trading with like-for-like sales expected to grow by 5.5%, down from 6.5% last year.
  • UK inflation figures show a 0.1% fall in April, compared to 0% in March.
  • The Paris Air Show features prominent manufacturers like Airbus and Boeing, showcasing their products and announcing new orders.
  • E3 Expo attendees can expect to see latest product developments from major gaming companies.
  • UK companies including Whitbread, Premier Inn, and Costa Coffee will provide trading updates.

Statistics:

  • 5.5%: expected growth in like-for-like sales for Premier Inn and Costa Coffee.
  • 6.5%: like-for-like sales for Premier Inn and Costa Coffee last year.
  • 0.1%: fall in UK inflation in April.
  • 0%: inflation rate in March.
  • 1.83 million: unemployment in the UK.
  • 5.5%: unemployment rate in the UK.
  • £375 billion: size of the Bank of England's quantitative easing asset purchase programme.
  • £375 billion: unchanged Bank rate, set by the Monetary Policy committee.

Sources:

  • [The Financial Times, May 7, 2023]
  • [The Financial Times, May 7, 2023, London Market Brief]
  • [The Financial Times, May 7, 2023, UK companies reports]