European stock markets rallied on Friday on some positive corporate earnings news, while energy issues found support in higher oil prices, dealers said.
The London FTSE 100 index rose by 0.62 percent to 4,849.3 points, the Frankfurt DAX 30 climbed 0.70 percent to 4,223.04 points and in Paris the CAC 40 added 0.74 percent to 3,980.18.
The DJ Euro STOXX 50 index of leading eurozone shares advanced 0.88 percent to 2,976.39 points.
As European markets closed, the Dow Jones Industrial Average had slipped 0.30 percent in New York and the tech-heavy NASDAQ was off 1.01 percent.
European shares were also lifted by the powerful overnight US rally, as a stronger-than-expected regional manufacturing and strong corporate earnings eased fears of a US economic slowdown.
Providing catalyst for US stocks on Thursday was a report from the Federal Reserve Bank of Philadelphia which said that growth had accelerated in the manufacturing sector in the region in April. Its index rose to 25.3 points in April from 11.4 in March.
In European trading on Friday, technology stocks performed well amid positive after-hours first-quarter profits from US Internet search giant Google.
In Amsterdam, the AEX index added 0.17 percent to 356.18, the Swiss SMI was up 0.17 percent at 5,912.85.
In Milan the SP/MIB gained 0.53 percent to 31,325, in Madrid the IBEX-35 rose 0.86 percent to 9,096.4 and in Brussels the BEL-20 closed 0.59 percent higher at 3,086.73.
Among the rows of vibrators, rubber torsos and leather harnesses at a Chinese sex toys exhibition in Shanghai this weekend, the beginnings of an artificial intelligence (AI)-driven shift in the industry quietly pulsed. China manufactures about 70 percent of the world’s sex toys, most of it the “hardware” on display at the fair — whether that be technicolor tentacled dildos or hyper-realistic personalized silicone dolls. Yet smart toys have been rising in popularity for some time. Many major European and US brands already offer tech-enhanced products that can enable long-distance love, monitor well-being and even bring people one step closer to
Malaysia’s leader yesterday announced plans to build a massive semiconductor design park, aiming to boost the Southeast Asian nation’s role in the global chip industry. A prominent player in the semiconductor industry for decades, Malaysia accounts for an estimated 13 percent of global back-end manufacturing, according to German tech giant Bosch. Now it wants to go beyond production and emerge as a chip design powerhouse too, Malaysian Prime Minister Anwar Ibrahim said. “I am pleased to announce the largest IC (integrated circuit) Design Park in Southeast Asia, that will house world-class anchor tenants and collaborate with global companies such as Arm [Holdings PLC],”
Sales in the retail, and food and beverage sectors last month continued to rise, increasing 0.7 percent and 13.6 percent respectively from a year earlier, setting record highs for the month of March, the Ministry of Economic Affairs said yesterday. Sales in the wholesale sector also grew last month by 4.6 annually, mainly due to the business opportunities for emerging applications related to artificial intelligence (AI) and high-performance computing technologies, the ministry said in a report. The ministry forecast that retail, and food and beverage sales this month would retain their growth momentum as the former would benefit from Tomb Sweeping Day
Thousands of parents in Singapore are furious after a Cordlife Group Ltd (康盛人生集團), a major operator of cord blood banks in Asia, irreparably damaged their children’s samples through improper handling, with some now pursuing legal action. The ongoing case, one of the worst to hit the largely untested industry, has renewed concerns over companies marketing themselves to anxious parents with mostly unproven assurances. This has implications across the region, given Cordlife’s operations in Hong Kong, Macau, Indonesia, the Philippines and India. The parents paid for years to have their infants’ cord blood stored, with the understanding that the stem cells they contained