European stock markets drifted mainly lower Fri-day in reaction to rudderless early trading on Wall Street, while traders focused on next week's probable rise in British interest rates.
The British FTSE 100 index slipped 0.31 percent to close at 4,287.6 points and the French CAC 40 ended 0.42 percent lower at 3,373.20 points.
The German DAX 30 bucked the trend, rising 0.45 percent to 3,655.99 points.
The DJ Euro Stoxx 50 index of leading euro-zone shares edged up 0.14 percent to 2,575.04 points.
The euro was changing hands for US$1.1575 in New York.
Hong Kong shares ended 0.38 percent higher in generally directionless trade.
In Britain, stronger than expected house pricing inflation numbers crystallised expectations that the Bank of England will raise British interest rates next week.
A survey from the Nationwide building society showed prices up a seasonally adjusted 2.0 percent from September, the highest rate for over a year.
Topping London's FTSE 100 was Rexam after the packaging group unveiled plans to buy Brazilian drinks can maker Latasa for £272 million (US$461 million), mostly funded by a £218-million rights issue.
Latasa is the leading supplier of beverage cans in Brazil, Argentina and Chile, with the acquisition making Rexam the world's biggest beverage can manufacturer. Earnings per share enhancement is seen from year one.
"The acquisition appears well priced and should be well received by the market," commented UBS, while Dresdner KW said the potential outlook and cash generation capability "looks huge."
Shares in Rexam jumped more than nine percent in reaction to the deal, up 33 pence to 430.
Meanwhile oil stocks recovered slightly following the shock of the previous day's announcement that Russian authorities had frozen shares in energy major Yukos following the arrest of its chief executive, Mikhail Khodorkovsky.
BP -- which recently unveiled a multi-billion dollar deal to form a joint venture with another Russian oil firm, TNK -- rose 1.05 percent to £4.09, while Shell gained 0.82 percent to £3.68.
In limited corporate news, Dutch banking group ABN Amro jumped 1.52 percent to 18.05 euros in Amsterdam after announcing a 40-percent surge in third-quarter net earnings.
In Frankfurt, Metro shares rose 0.06 percent to 35.18 euros as the news that Europe's third-biggest retailer has scrapped plans to sell its real estate unit took the shine off third-quarter results in line with expectations.
Other European markets put in a mixed performance. The Swiss SMI index fell 0.23 percent to 5,211.4 points while the Milan Mib 30 was unchanged.
Amsterdam's AEX added 0.51 percent to 330.22, the Brussels Bel-20 gained 1.06 percent to 2,160.67 and the Madrid Ibex-35 rose 0.03 percent to 7,121.0.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) halted shipments to a customer this month after its semiconductors were sent to China’s Huawei Technologies Co (華為), potentially breaching US sanctions, a government official said. The US slapped sanctions on Huawei in 2019, and expanded them the following year, over fears its technology could be used for Beijing’s espionage operations. The restrictions prevent TSMC from selling semiconductors to Huawei. However, TSMC discovered on Oct. 11 that chips made for a “specific customer” had ended up with the Chinese company, a Taiwanese official with knowledge of the incident said on the condition of anonymity. TSMC “immediately activated
US SANCTIONS: The Taiwan tech giant has ended all shipments to China-based Sophgo Technologies after one of their chips was discovered in a Huawei phone Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) suspended shipments to China-based chip designer Sophgo Technologies Ltd (算能科技) after a chip it made was found on a Huawei Technologies Co (華為) artificial intelligence (AI) processor, according to two people familiar with the matter. Sophgo had ordered chips from TSMC that matched the one found on Huawei’s Ascend 910B, the people said. Huawei is restricted from buying the technology to protect US national security. Reuters could not determine how the chip ended up on the Huawei product. Sophgo said in a statement on its Web site yesterday that it was in compliance with all laws
TECH TITANS: Nvidia briefly overtook Apple again on Friday after becoming the world’s largest company for a short period in June, as Microsoft fell to third place Nvidia Corp dethroned Apple Inc as the world’s most valuable company on Friday following a record-setting rally in the stock, powered by insatiable demand for its specialized artificial intelligence (AI) chips. Nvidia’s stock market value briefly touched US$3.53 trillion, slightly above Apple’s US$3.52 trillion, London Stock Exchange Group data showed. Nvidia ended the day up 0.8 percent, with a market value of US$3.47 trillion, while Apple’s shares rose 0.4 percent, valuing the iPhone maker at US$3.52 trillion. In June, Nvidia briefly became the world’s most valuable company before it was overtaken by Microsoft Corp and Apple. The tech trio’s market capitalizations have been
Shares of Starlux Airlines Co (星宇航空) surged more than 53 percent on its debut on the Taiwan stock exchange yesterday. Starlux shares closed up 53.75 percent at NT$30.75 from its initial public offering price of NT$20 after retreating in late trading from a 60 percent rise. China Airlines Ltd (CAL, 中華航空) rose 0.90 percent to close at NT$22.35, while EVA Airways Corp (長榮航空) gained 0.40 percent to close at NT$37.70. In Taiwan, a newly listed stock is allowed to go beyond the 10 percent maximum increase or decline in its first five trading sessions. At the listing ceremony, Starlux chairman Chang Kuo-wei (張國煒) said
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