Friday preview: China data, William Hill in focus

The economic calendar for the last session of the week is brimming with top-tier economic releases from all the major jurisdictions outside of the UK.

In particular, readings are due out in China for monthly industrial production, fixed asset investment and retail sales all covering the month for April.

It will be quite busy as well in the States, with reports on retail sales and industrial production also due out, alongside survey readings for manufacturing in the New York State area and for nation-wide consumer confidence in May.

Across the Channel meanwhile, euro area employment data for the first quarter are due out, together with foreign trade numbers for the bloc covering the month of March.

No economic data are due out in the UK.

For William Hill's first quarter update, Morgan Stanley analyst Ed Young believes investors will focus on its cash burn and liquidity position.

Thanks to government support, the former should have improved since 16 March, when sports betting outfit last updated markets.

In a research note sent to clients, Young also noted that William Hill's liquidity position was "good".

However, that was partly due to its revolving credit facilities, the use of which might be hampered by the company's debt covenants.

Hence, progress on that front was likely to be a "key focus area.

Young's expectations for online revenue growth meanwhile was for 3.0-4.0%.

Friday 15 May

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