European stocks fell for a second day on Friday, with media shares leading declines, while US-payrolls data fueled bets the US Federal Reserve would raise rates.
The STOXX Europe 600 Index dropped 0.9 percent to 397.07 at the close. Shares extended losses in late trading, cutting their weekly gain to 0.2 percent. Greece’s ASE Index, which reopened on Monday after a five-week suspension, added 1.5 percent, paring its weekly slide to 15 percent. Coca-Cola HBC AG contributed the most to Greek gains on Friday, rising 7 percent.
“Stocks seek growth,” said Daniel Weston, chief investment officer of Aimed Capital in Munich, Germany. “With jobs numbers coming in as expected, and a rate rise likely to come, it is unsure at present what the drivers are to own stocks during this summer period.”
US employers added 215,000 jobs last month, lower than the 225,000 predicted by economists.
Still, the unemployment rate held at a seven-year low of 5.3 percent, a sign of healing in the labor market that is keeping the Fed on the path toward raising interest rates as soon as next month.
Broadcasters including the UK’s ITV PLC, Germany’s ProSiebenSat.1 Media SE and Italy’s Mediaset SpA fell at least 3.4 percent after concern that advertising would decline as viewers shift to online programming triggered an overnight selloff in the US. Sanofi and Novo Nordisk A/S contributed the most to a drop in drug companies.
Among stocks active on corporate news, Nokian Renkaat Oyj slipped 1.5 percent after the Nordic region’s largest tiremaker downgraded its outlook following disappointing second-quarter profit and sales.
Banca Monte dei Paschi di Siena SpA jumped 8.8 percent after the lender, which tapped Italy for two bailouts since 2009, swung to a profit in the second quarter.
Anglo American PLC and Glencore PLC rose at least 2 percent, leading a rebound in commodity producers.
BP PLC and Total SA pushed a gauge of energy shares higher, even as oil reversed an earlier gain.
DEVELOPING TALENT: The electronics contractor is looking to recruit people to work in core tech fields and emerging industries like electric cars and robotics Hon Hai Precision Industry Co (鴻海精密), the world’s largest contract electronics maker, has launched a recruitment drive, offering a monthly salary of no less than NT$45,000 (US$1,485) to university graduates. For those with a master’s degree, the starting pay would be NT$52,000 per month at the minimum, while doctorate degree holders would receive at least NT$60,000 a month, Hon Hai said a statement issued early this week. The latest recruitment drive is aimed at attracting talent in core technology fields — artificial intelligence, semiconductors and next-generation mobile communications — and emerging industries — electric vehicles, digital healthcare and robotics, the
MRT TRAVEL FALLS: In February, ridership on the Taipei MRT System fell 8.96 percent from an average of 2.01 million per day in January Scooter sales jumped 13 percent last month as more commuters turned to two-wheelers to avoid public transportation amid the COVID-19 pandemic, the latest statistics showed. Sales expanded to 74,493 units last month, compared with 65,913 units in February, statistics released on Wednesday by Kwang Yang Motor Co (光陽工業) and the Ministry of Transportation and Communications showed. In the first quarter, aggregate sales slid 0.51 percent year-over-year to 186,627 units, from 187,580 units, data showed. Kwang Yang, the nation’s biggest scooter manufacturer, continued to lead the market by selling 24,136 vehicles last month, growing 6.12 percent from 20,785 units in the previous month, while
Asustek Computer Inc (華碩), the nation’s leading PC vendor, yesterday launched its first dual-screen gaming laptop powered by Intel Corp’s latest central processing units (CPUs). The PC manufacturer’s announcement closely followed the US chipmaker’s unveiling of its 10th Generation Core H-series, the fastest commercial mobile processors with speeds of up to 5 gigahertz. Although Asustek’s Zephyrus Duo 15, the highlight of its Republic of Gamers line, is not the company’s first laptop with two screens, it is its first designed specifically for gaming. Nestled between the primary display panel and the keyboard, the secondary display, which Asustek calls the ScreenPad Plus, is angled
NO ILL EFFECT: Last month’s data mainly reflected deals made in February, when the spread of COVID-19 was still relatively mild in Taiwan, housing brokers said Housing transactions in the six special municipalities totaled 19,824 units last month, up 7.8 percent from a year earlier, brokers said, citing government data. Last month’s data mainly reflected deals made in February, when the pinch of the COVID-19 pandemic was not yet evident, they said. Taoyuan posted the largest improvement, with housing transactions soaring 36.6 percent year-on-year to 3,676 units, local government data showed. Taiwan Realty Co (台灣房屋) attributed the pickup to the completion of two presale residential projects in the municipality. Houses in Taoyuan have increasingly gained in popularity in the past few year years due to relatively affordable home prices and