Europe's main stock markets closed sharply lower on Friday after disappointing data in the US sparked concern about slowing growth and the prospect of recession in the world's biggest economy.
In London the FTSE 100 index lost 2.02 percent to finish at 6,348.50 points, in Paris the CAC 40 fell 1.79 percent to 5,446.79, while in Frankfurt the DAX lost 1.26 percent to end the day at 7,808.69.
"Any hopes of the FTSE finishing the week above the key 6,500 level have seemingly been dashed with some far-worse-than-expected payroll data out of the US," said Jimmy Yates, a dealer at CMC Markets. "Once again as the week draws to a close the prospect of a global recession is going to be dominating the thoughts of many."
The DJ Euro STOXX 50 index of eurozone shares fell 1.45 percent to 4,270.53 points.
In Paris shares in Renault lost 7.58 percent to 86.45 euros, closing at their lowest close since last March after Nissan, of which Renault owns 44 percent, reported that sales for last month fell 2.4 percent.
Elsewhere in Europe, in Madrid the IBEX 35 fell 1.71 percent to 14,856.5 points, in Milan the SP/MIB lost 1.61 percent to 37,450 points, in Amsterdam the AEX lost 1.59 percent to 500.60 points and in Brussels the BEL 20 shed 0.56 percent to 4,094.38 points. The Swiss SMI index plunged 2.27 percent to 8,129.98 points.
China has claimed a breakthrough in developing homegrown chipmaking equipment, an important step in overcoming US sanctions designed to thwart Beijing’s semiconductor goals. State-linked organizations are advised to use a new laser-based immersion lithography machine with a resolution of 65 nanometers or better, the Chinese Ministry of Industry and Information Technology (MIIT) said in an announcement this month. Although the note does not specify the supplier, the spec marks a significant step up from the previous most advanced indigenous equipment — developed by Shanghai Micro Electronics Equipment Group Co (SMEE, 上海微電子) — which stood at about 90 nanometers. MIIT’s claimed advances last
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) has appointed Rose Castanares, executive vice president of TSMC Arizona, as president of the subsidiary, which is responsible for carrying out massive investments by the Taiwanese tech giant in the US state, the company said in a statement yesterday. Castanares will succeed Brian Harrison as president of the Arizona subsidiary on Oct. 1 after the incumbent president steps down from the position with a transfer to the Arizona CEO office to serve as an advisor to TSMC Arizona’s chairman, the statement said. According to TSMC, Harrison is scheduled to retire on Dec. 31. Castanares joined TSMC in
EUROPE ON HOLD: Among a flurry of announcements, Intel said it would postpone new factories in Germany and Poland, but remains committed to its US expansion Intel Corp chief executive officer Pat Gelsinger has landed Amazon.com Inc’s Amazon Web Services (AWS) as a customer for the company’s manufacturing business, potentially bringing work to new plants under construction in the US and boosting his efforts to turn around the embattled chipmaker. Intel and AWS are to coinvest in a custom semiconductor for artificial intelligence computing — what is known as a fabric chip — in a “multiyear, multibillion-dollar framework,” Intel said in a statement on Monday. The work would rely on Intel’s 18A process, an advanced chipmaking technology. Intel shares rose more than 8 percent in late trading after the
FACTORY SHIFT: While Taiwan produces most of the world’s AI servers, firms are under pressure to move manufacturing amid geopolitical tensions Lenovo Group Ltd (聯想) started building artificial intelligence (AI) servers in India’s south, the latest boon for the rapidly growing country’s push to become a high-tech powerhouse. The company yesterday said it has started making the large, powerful computers in Pondicherry, southeastern India, moving beyond products such as laptops and smartphones. The Chinese company would also build out its facilities in the Bangalore region, including a research lab with a focus on AI. Lenovo’s plans mark another win for Indian Prime Minister Narendra Modi, who tries to attract more technology investment into the country. While India’s tense relationship with China has suffered setbacks