European stocks got a boost on Friday from a strong US job creation report for last month, which dampened fears that the world's largest economy could be headed toward recession.
In London the FTSE 100 index gained 0.73 percent to finish at 6,595.80, while in Paris the CAC 40 rose 0.67 percent to reach 5,843.24 and in Frankfurt the DAX added 0.72 percent to end the day at 8,002.18.
The Euro STOXX 50 index of top eurozone shares advanced by 0.79 percent to 4,455.31.
The euro stood at US$1.4152, after hitting a record high US$1.4283 earlier in the week.
Across the Atlantic US stock markets forged higher on Friday after the government revealed job growth strengthened last month, easing worries the economy could be facing a potential recession.
Stocks rose after the Labor Department said US employers added 110,000 jobs last month. The government also revised August's job reading to show a gain in non-farm payrolls compared with an initial estimate that job growth declined.
The report lifted investors' spirits and raised hopes that the economy is weathering a credit crunch and widespread housing downturn.
In London mining stocks gained on the news with Anglo American gaining 2.92 percent to £33.43, BHP Billiton 2.53 percent to ?17.45, Kazakhmys 4.59 percent to £15.96 and Rio Tinto 2.88 percent to £42.50.
In Paris, EADS rose 1.37 percent to 22.27 euros as the company attempts to shrug off accusations of improper deals.
Newly installed Airbus chief executive Thomas Enders on Friday denied insider trading in shares of the planemaker's parent company EADS, according to an internal memo seen by reporters.
"To be clear with you all, I never committed any insider trading and I have not been accused of insider trading by anyone, including by the [French] Financial Markets Authority [AMF]," he wrote in the memo addressed to all Airbus staff.
"I categorically reject the allegations and insinuations in the press," Enders said.
Reports by Le Figaro newspaper and a knowledgeable source have said that around 20 EADS executives and shareholders are under suspicion of having sold their stakes in the company knowing that it was about to disclose big problems at Airbus.
Elsewhere in Europe, in Amsterdam the AEX closed 0.90 percent higher at 546.6 points, in Milan the SP/MIB rose 0.55 percent to 40,800 points, while the Swiss SMI grew 0.24 percent to 9,075.35 points.
In Madrid, the IBEX-35 gained 1.18 percent to 14,892.10 points and the Belgian BEL 20 added 0.57 percent to finish at 4,460.29 points.
Advanced Micro Devices Inc (AMD) suffered its biggest stock decline in more than a month after the company unveiled new artificial intelligence (AI) chips, but did not provide hoped-for information on customers or financial performance. The stock slid 4 percent to US$164.18 on Thursday, the biggest single-day drop since Sept. 3. Shares of the company remain up 11 percent this year. AMD has emerged as the biggest contender to Nvidia Corp in the lucrative market of AI processors. The company’s latest chips would exceed some capabilities of its rival, AMD chief executive officer Lisa Su (蘇姿丰) said at an event hosted by
AVIATION: Despite production issues in the US, the Taoyuan-based airline expects to receive 24 passenger planes on schedule, while one freight plane is delayed The ongoing strike at Boeing Co has had only a minor impact on China Airlines Ltd (CAL, 中華航空), although the delivery of a new cargo jet might be postponed, CAL chairman Hsieh Su-chien (謝世謙) said on Saturday. The 24 Boeing 787-9 passenger aircraft on order would be delivered on schedule from next year to 2028, while one 777F freight aircraft would be delayed, Hsieh told reporters at a company event. Boeing, which announced a decision on Friday to cut 17,000 jobs — about one-tenth of its workforce — is facing a strike by 33,000 US west coast workers that has halted production
AI AIM: The chipmaker wants joint research and development programs with the Czech Republic, and the government is considering supporting investments in a Czech location Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is planning to build more plants in Europe with a focus on the market for artificial intelligence (AI) chips as the chipmaker expands its global footprint, a senior Taiwanese official said. “They have started construction of the first fab in Dresden; they are already planning the next few fabs in the future for different market sectors as well,” National Science and Technology Council (NSTC) Minister Wu Cheng-wen (吳誠文) told Bloomberg TV in an interview that aired yesterday. Wu did not specify a timeline for TSMC’s further expansion in Europe. TSMC in an e-mailed statement said it
TECH JUGGERNAUT: TSMC shares have more than doubled since ChatGPT’s launch in late 2022, as demand for cutting-edge artificial intelligence chips remains high Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday posted a better-than-expected 39 percent rise in quarterly revenue, assuaging concerns that artificial intelligence (AI) hardware spending is beginning to taper off. The main chipmaker for Nvidia Corp and Apple Inc reported third-quarter sales of NT$759.69 billion (US$23.6 billion), compared with the average analyst projection of NT$748 billion. For last month alone, TSMC reported revenue jumped 39.6 percent year-on-year to NT$251.87 billion. Taiwan’s largest company is to disclose its full third-quarter earnings on Thursday next week and update its outlook. Hsinchu-based TSMC produces the cutting-edge chips needed to train AI. The company now makes more
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