Market highlights

1 Troubled Australian steel group Arrium, which collapsed last month after creditors rejected a private equity bailout, will hire a global investment bank to advise on the sale of its profitable Moly-Cop mining supplies unit.

2 Growth in Germany's private sector accelerated this month to hit the highest level so far this year, a survey showed yesterday, suggesting Europe's largest economy will extend its surprisingly strong start to the year into the second quarter.

3 Hackers are probing the defences of banks in the Middle East, targeting employees with infected e-mails that gather information about the banks' network and user accounts, FireEye researchers said.

4 A relatively tight labour market in the United States may put upward pressure on inflation, raising the case for higher interest rates, St Louis Federal Reserve Bank president James Bullard said yesterday.

5 A consortium backed by sovereign fund China Investment has withdrawn its bid for control of Yum! Brands' Chinese business after failing to agree on a price with the operator of KFC and Pizza Hut eateries in the nation.

A version of this article appeared in the print edition of The Straits Times on May 24, 2016, with the headline 'Market highlights'. Print Edition | Subscribe