European stock markets had mixed fortunes on Friday, but London shares were lifted after Britain confirmed it would sell Eurofighter Typhoon jets to Saudi Arabia.
The London FTSE 100 index of leading shares closed 0.05 percent higher at 5,903.40 points. In Frankfurt, the DAX dropped by 0.28 percent to 5,817.02, while in Paris the CAC 40 closed 0.18 percent lower at 5,135.69.
The DJ Euro STOXX 50 index of leading eurozone shares fell by 0.23 percent to 3,791.40 points.
The euro stood at US$1.2813 in late European trading, compared with US$1.2825 late on Thursday in New York.
US stocks traded lower on Friday after the struggling Ford Motor Co announced it was slashing production, particularly of its gas-guzzling SUVs, as it vies to fend off Asian rivals.
In London, shares in BAE Systems enjoyed a positive day after the British government confirmed reports that it has signed a multi-billion-dollar deal to supply 72 Eurofighter Typhoon aircraft to Saudi Arabia.
BAE added £0.095 to £3.695, while Rolls-Royce, which is also part of the Eurofighter consortium, gained £0.0325 to £4.28.
Miners were mostly weaker in London on Friday, with an interest rate hike by China frightening investors into taking profits after the sector's recent gains.
BHP Billiton and Rio Tinto shed £0.07 to £10.32 and £0.06 to £27.32 respectively after shutting their Escondida copper mine in Chile and ending negotiations with its striking workers after talks failed once again. BHP owns a 57.5 percent stake in the mine, while Rio Tinto owns 30 percent.
In Paris, share prices closed slightly lower as mixed trading on Wall Street prompted consolidation of positions ahead of the weekend, ending a five-day run of gains that had been built on hopes that further US interest rate tightening would not be necessary, dealers said.
Among blue chips, pharmaceuticals group Sanofi-Aventis slid 0.4 percent to 70.70 euros ahead of a US court hearing in New York aimed at keeping Canada's Apotex from selling generic versions of its Plavix blockbuster drug ahead of the full trial on the validity of Sanofi's Plavix patent, set for early next year.
In Amsterdam, the AEX index added 0.15 percent to 463.92 points, the Swiss SMI fell by 0.35 percent at 8,084.18, in Milan the SP/MIB gained 0.13 percent to 37,549, in Madrid the IBEX-35 dropped by 0.17 percent to 12,067.8 and in Brussels the BEL-20 climbed 0.27 percent to close at 3,912.86.
SEEKING CLARITY: Washington should not adopt measures that create uncertainties for ‘existing semiconductor investments,’ TSMC said referring to its US$165 billion in the US Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) told the US that any future tariffs on Taiwanese semiconductors could reduce demand for chips and derail its pledge to increase its investment in Arizona. “New import restrictions could jeopardize current US leadership in the competitive technology industry and create uncertainties for many committed semiconductor capital projects in the US, including TSMC Arizona’s significant investment plan in Phoenix,” the chipmaker wrote in a letter to the US Department of Commerce. TSMC issued the warning in response to a solicitation for comments by the department on a possible tariff on semiconductor imports by US President Donald Trump’s
The government has launched a three-pronged strategy to attract local and international talent, aiming to position Taiwan as a new global hub following Nvidia Corp’s announcement that it has chosen Taipei as the site of its Taiwan headquarters. Nvidia cofounder and CEO Jensen Huang (黃仁勳) on Monday last week announced during his keynote speech at the Computex trade show in Taipei that the Nvidia Constellation, the company’s planned Taiwan headquarters, would be located in the Beitou-Shilin Technology Park (北投士林科技園區) in Taipei. Huang’s decision to establish a base in Taiwan is “primarily due to Taiwan’s talent pool and its strength in the semiconductor
Industrial production expanded 22.31 percent annually last month to 107.51, as increases in demand for high-performance computing (HPC) and artificial intelligence (AI) applications drove demand for locally-made chips and components. The manufacturing production index climbed 23.68 percent year-on-year to 108.37, marking the 14th consecutive month of increase, the Ministry of Economic Affairs said. In the first four months of this year, industrial and manufacturing production indices expanded 14.31 percent and 15.22 percent year-on-year, ministry data showed. The growth momentum is to extend into this month, with the manufacturing production index expected to rise between 11 percent and 15.1 percent annually, Department of Statistics
An earnings report from semiconductor giant and artificial intelligence (AI) bellwether Nvidia Corp takes center stage for Wall Street this week, as stocks hit a speed bump of worries over US federal deficits driving up Treasury yields. US equities pulled back last week after a torrid rally, as investors turned their attention to tax and spending legislation poised to swell the US government’s US$36 trillion in debt. Long-dated US Treasury yields rose amid the fiscal worries, with the 30-year yield topping 5 percent and hitting its highest level since late 2023. Stocks were dealt another blow on Friday when US President Donald