Europe's main stock markets ended the week on a mixed note, with London trading weighed down by disappointing domestic corporate news, dealers said.
The FTSE 100 slid 0.26 percent to 6,308 points while in Paris the CAC 40 was essentially unchanged at 5,634.16 points.
Frankfurt's DAX 30 index of leading shares added 0.29 percent to 6,917.03 points, helped by a jump in the share price of Commerzbank.
The DJ Euro STOXX 50 index of eurozone blue-chip shares was flat at 4,181.03 points, while the euro stood at 1.3373 dollars.
In London stock trading, the share price of life insurer Resolution led the blue-chip casualties, tumbling 4.17 percent to £6.2050 after the group said talks with various parties over its possible sale had been terminated.
Resolution said it would continue to assess possible acquisitions and business combinations that would not constitute an offer for the company.
Vodafone shares gave up 4.31 percent to £1.3550 after the telecommunications operator warned that conditions in the British domestic market were deteriorating rapidly.
Even Alliance Boots ended up slipping 0.05 percent to £10.265, despite the fact that Europe's biggest pharmacy chain received an increased offer from US investment group KKR worth £10.06 billion (US$19.61 billion) in cash.
KKR, which is tabling a joint bid with Alliance Boots' executive deputy chairman Stefano Pessina, has offered £10.40 per share, and the market reckoned the company would likely accept the offer.
British Airways meanwhile slumped 1.73 percent to £4.8881, hurt by the prospect of higher fuel costs. BA said it might sell its 10 percent stake in Spanish national carrier Iberia, which received a request for information from US private equity firm Texas Pacific Group which is considering a takeover bid.
Iberia signalled last week it was ready to look at a merger, amid expected consolidation of the industry following an EU-US deal to open up transatlantic air travel.
A potential TPG bid was believed to value Iberia at 3.60 euros a share.
The Spanish airline lost 0.25 percent at 3.99 euros in Madrid, while the IBEX-35 index added 0.25 percent to 14,641.70 points.
Elswhere Man Group, the world's biggest listed hedge fund, lost 1.77 percent to £5.55 in London after an expected announcement to demerge its brokerage unit, Man Financial, and list it on the New York Stock Exchange.
In Amsterdam, the AEX index fell back 0.26 percent to 510.50 points, the Swiss SMI was flat at 8,976.99, in Milan the SP/MIB was also unchanged at 41,771 and in Brussels the BEL-20 closed 0.49 percent lower at 4,471.65.
HEAVY INVESTMENT: Moody’s affirmed the firm’s ‘Aa3’ rating with a ‘stable’ outlook due to its leading position in the industry and ability to match customer requirements Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) revenue this year is expected to increase about 21 percent to NT$1.29 trillion (US$44.01 billion) from NT$1.07 trillion last year, driven by strong demand for advanced 5-nanometer and 7-nanometer chips mainly used in smartphones and high-performance computing devices, a Moody’s Investors Service report on Wednesday said. TSMC’s rate of revenue growth next year is to increase to 7.5 percent, the ratings agency said. The company, which supplies 5-nanometer chips for Apple Inc’s new iPad series, has introduced the advanced chips ahead of its competitors and gained a significant share of the market for the foundry industry’s
NO VIRUS BLUES: A SEMI Taiwan official said that the virus does not slow down the global semiconductor industry’s investment in manufacturing equipment The production value of the nation’s semiconductor industry is expected to grow 16.7 percent this year from last year, outpacing the global industry’s 3.3 percent growth, industry association SEMI said yesterday. That would help Taiwan safeguard its second spot in the global semiconductor market with a production value of more than NT$3 trillion (US$102.73 billion), SEMI Taiwan president Terry Tsao (曹世綸) told a media briefing in Taipei for the Semicon Taiwan trade show beginning today. The global semiconductor industry’s production value is expected to increase to US$426 billion this year, SEMI said. In terms of semiconductor equipment investment, equipment billings from Taiwanese firms
Intel Corp has received licenses from US authorities to continue supplying certain products to Huawei Technologies Co (華為), a company spokesman said yesterday. Washington has been pushing governments around to world to squeeze out Huawei, saying that the telecom giant would hand data to Beijing for espionage. From Monday last week, new curbs have barred US companies from supplying or servicing Huawei. This week, the state-backed China Securities Journal reported that Intel had received permission to supply Huawei. China’s Semiconductor Manufacturing International Corp (SMIC, 中芯國際), which uses US-origin equipment to make chips for Huawei and other companies, last week confirmed that it had sought
Taipei Times: When do you think the hospitality industry can return to how it was before the COVID-19 pandemic? How does Formosa International Hotels Group (FIH, 晶華酒店集團) fare this quarter and beyond? FIH chairman Steve Pan (潘思亮): The virus outbreak will have a serious impact on business travel, driven mainly by meetings, incentive travel, conferences and exhibitions over the past three decades. For the past six months, many businesspeople have grown used to exchanging information on the Internet, where more people can participate. The trend might sustain for three to five years until people are vaccinated and it is safe to