05 June – 09 June

05 June

An independent gauge of China’s services sector growth rebounded last month from a nearly 12-month low, narrowing the spread with its official counterpart and pointing to greater divergence with the country’s manufacturing sector.

Activity in Spain’s private sector was slightly stronger than expected in May, according to a series of closely-watched surveys, which suggested firms are finally making progress in bringing down the country’s high unemployment levels.

Sales of the Sony PlayStation 4 have reached almost 60m units since the games console launched three and a half years ago, with the Japanese company maintaining its commanding lead over Microsoft as its main rival prepares to release a more powerful Xbox console.

Mexico’s currency rallied on Monday, with the peso wiping out more of its post-US election plunge, after early polling in a key local election pointed to a narrow victory by the country’s governing party.

06 June

Wage growth returned to Japan in April, with a revision wiping out the contraction from the month prior and suggesting the outlook for lifting inflation may be less dire than previously thought – albeit still far from ideal.

House prices in Toronto slipped across the board in May, suggesting that authorities are succeeding in efforts to deflate a market pumped up by ultra-low interest rates and flows of foreign money.

Google parent Alphabet has joined the $1,000 a share club, underscoring the vigorous rally this year in technology stocks that has helped to drive the broader market to record peaks.

Everything is on the up in the eurozone. A measure of investor confidence in the single currency area rose back to its pre-financial crisis level in June, climbing for the sixth consecutive month to its highest since 2007.

07 June

General Motors’ shareholders resoundingly rejected proposals from activist investor David Einhorn to split the company’s stock and replace three members of the board, a vote of confidence in chief executive Mary Barra at a time when automaker CEOs are under pressure.

Some 70 countries will sign a pact on Wednesday to crack down on international tax avoidance, with changes that backers say will increase the worldwide corporate tax take by up to 10 per cent.

Internet streaming will become the largest source of global recorded music sales this year as revenues from services including Spotify and Apple Music surpass sales of CDs and vinyl records for the first time, according to a new forecast from professional services firm PwC.

Stock markets around Asia were subdued but mixed on Wednesday as investors took their cue from declines on Wall Street and as the US dollar fell to its lowest level since early October.

08 June

Things just keep getting worse for South Africa. Days after announcing the economy had unexpectedly entered recession in the first three months of the year, new data from the mining and manufacturing sectors show the second quarter didn’t start much better, with year on year growth in both industries significantly below forecasts.

Greek unemployment fell impressively in March to hit a five-year low – a welcome tumble after years of stubbornly high joblessness in the bailout economy.

Shares in RPC, the plastic packaging maker, crumpled by more than 7 per cent on Wednesday despite profits doubling at the FTSE 250 group following a string of acquisitions.

The pound is holding at a two-week high as the UK goes to the polls for its second general election in 13 months today.

09 June

UK industrial output increased for the first time in four months in April, according to official data released today, but the growth was significantly slower than economists had expected, with the weak start to the year pushing year-on-year figures into contraction for the first time in six months.

China’s producer price growth moderated further in May to the equal-lowest level since December as consumer prices continued to pick up.

IWG, the world’s biggest service office group, was Thursday’s main talking point as takeover speculation swirled. The stock, formerly known as Regus, spiked to a 392p record high in early trade amid rumours that it had sounded out banks about organising a potential sale of the group, and had fielded interest from private equity funds.

Cosmetics giant L’Oréal has announced it is in exclusive talks to sell The Body Shop to Natura Cosmeticos, lining up the Brazilian group as an unlikely winner in the bid to buy the UK high street stalwart.