International Workers' Day, and King Charles III's coronation trading hours

Everything you need to know about the first of May and 8th of May

By Nadia Elbilassy | @Nadia Elbilassy | 19 April 2023

Coronation trading hours
  • May Day: a holiday to honor workers on May 1st

  • Several bank holidays will take place on these 2 dates

  • King Charles III's coronation on May 6, followed by a bank holiday on May 8

International Workers' Day

International Workers' Day, also known as May Day, is a public holiday celebrated in many countries around the world on May 1st to honor workers and their contributions to society.

The holiday originated in the late 19th century, when labor movements in the United States and Europe fought for better working conditions, including an eight-hour workday. Today, International Workers Day is recognized in many countries as a national holiday, and workers often hold demonstrations and marches to call attention to issues such as workers' rights, fair wages, and social justice.

The first of May will start on a Monday, where trading on equity markets will be closed in Europe, UK, Switzerland and Hong Kong.

King Charles III's coronation

The following Monday on the 8th of May will also be King Charles III's coronation which will take place on Saturday 6 May 2023 at Westminster Abbey in London where it has taken place for the last 900 years.

A coronation is both the symbolic religious ceremony during which a sovereign is crowned and the physical act of placing a crown on a monarch's head. It formalizes the monarch's role as the head of the Church of England and marks the transfer of their title and powers.

There will be an extra bank holiday on the 8th of May where celebrations are due to take place.

UK equity markets and commodities (Excluding Brent oil) will be closed.

There will also be a French bank holiday on the same day.

Markets are likely to experience less volatility till trading normally resumes the following day.