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.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday reiterated that the company has not entered discussions with any company about potential investments or partnerships amid ongoing rumors of ailing Intel Corp seeking TSMC’s participation. In a statement, TSMC, the world’s largest contract chipmaker, dismissed a report by the Wall Street Journal, saying that Intel had approached TSMC soliciting investment in Intel’s manufacturing operations or a partnership. The company said it has never entered into talks with any company on establishing a joint venture or engaging in the licensing or transfer of technology. That stance was similar to previous statements made by TSMC chairman C.C.
PULLING AHEAD: TSMC aims to start production at the Taichung fab in 2028 using its most advanced technology, while 1.6nm chips would be made in Kaohsiung next year Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is to start building a new 1.4-nanometer fab next quarter with an anticipated production value of up to NT$500 billion (US$16.49 billion), the Central Taiwan Science Park Bureau said yesterday. TSMC, the world’s biggest contract chipmaker, is working at full steam to push forward the construction of its new factories at home, rather than taking a slower approach as some media speculated, bureau Director-General Hsu Maw-shin (許茂新) said. “Everything is on schedule. TSMC plans to start construction in the fourth quarter. It is planning a detailed construction schedule and arranging contractors to build the fab,” Hsu
Taiwan has imposed restrictions on the export of chips to South Africa over national security concerns, taking the unusual step of using its dominance of chip markets to pressure a country that is closely allied with China. Taiwan requires preapproval for the bulk of chips sold to the African nation, the International Trade Administration said in a statement. The decision emerged after Pretoria tried to downgrade Taipei’s representative office and force its move to Johannesburg from Pretoria, the Ministry of Foreign Affairs has said. The move reflects Taiwan’s economic clout and a growing frustration with getting sidelined by Beijing in the diplomatic community. Taiwan
CABLE NUMBERS: Microsoft said it is not worried about the connectivity resilience of its data centers, as Taiwan has more submarine cables than most people imagine Microsoft Corp yesterday said it plans to expand its data center deployment and artificial intelligence (AI) services in Taiwan to match fast-growing demand from local vertical industries as AI applications gain traction. The Redmond, Washington-based cloud service provider enabled its first phase of its Azure data center in Taiwan last year, allowing early adotping customers to access its cloud and AI services, four years after it announced a mega data center investment in 2020. The Taiwan Azure “data center region” would comprise three to four data centers, Microsoft said. “After we enabled the first of our one-plus-one data center projects last year, we
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