The rivalry between supermarket giants Tesco and Sainsbury's will be in focus when the pair issue trading updates.

Tesco's update for the first quarter of its financial year is expected to show its recovery has yet to gain momentum. The group is still losing market share amid the price war and a buoyant performance from discounters Iceland, Aldi and Lidl.

The chain, which is the UK's biggest in supermarkets, is fighting to win back shoppers after dire trading led to its first profits warning in 20 years and shares recently hit three-year lows.

Andrew Kasoulis, an analyst at Credit Suisse, expects like-for-like sales excluding fuel and VAT to decline 1.5% in the 13 weeks to May 26, in only a slight improvement on the 1.6% fall in the previous quarter.

Strong sales of party food and patriotic fare for the Queen's Diamond Jubilee will help Sainsbury's hold its own on Wednesday.

The UK's third biggest grocer was one of the main sponsors of the Thames Diamond Jubilee Pageant and is thought to have benefited more than rivals from the celebrations.

James Anstead, an analyst at Barclays Capital, expects the chain to report like-for-like sales growth of 2%, which would be a slight slowdown on the 2.6% in the previous quarter but "a good performance" considering the wet weather. He expects "upbeat comments" about the strength of trading over the long weekend.

The new chief of British success story Mulberry is set for a fashionable entrance when he delivers his first set of results on Thursday.

Frenchman Bruno Guillon, who joined as chief executive at the end of March, is expected to reveal a 50% surge in pre-tax profits to £35.4 million as demand for its products overseas grows rapidly.

Mulberry shares are 50% higher than they were a year ago and at 1950p it has a market value of around £1.2 billion.

Europe's biggest regional airline Flybe is bracing itself for a wider full-year loss in its annual results on Monday after UK demand for flights took a nosedive. The airline, which flies from airports including Edinburgh, Bristol, Cardiff, Doncaster, and East Midlands, is set to make a loss of around £8.2m in the year to March 31, compared to a £4.3m loss the previous year.

The group previously promised to reveal further detail on how it plans to increase revenues per seat, deliver cost reductions and match capacity to demand.

Shares in Flybe are 65% lower than they were a year ago.