European stock markets all weakened on Friday, with the world's largest caterer Compass sliding in London on news of a corruption probe.
The London FTSE shed 0.42 percent to close at 5,142.1 points, while in Frankfurt the DAX 30 fell 0.53 percent to 4,838.40 and in Paris the CAC 40 dropped 0.55 percent to 4,366.52.
The Euro Stoxx 50 index of leading eurozone shares fell 0.42 percent to 3271.05.
US stocks traded mixed on Friday as disappointing earnings by mining equipment maker giant Caterpillar weighed on the Dow Jones Industrial Average.
But the broader market gained ground after results from Internet search giant Google Inc sharply exceeded analyst expectations.
In London, Compass Group shares was the top FTSE 100 faller on Friday, shedding 5.79 percent to close at £17.50 after the UK caterer said it had launched a probe and suspended two of its regional heads amid allegations of corruption over UN contracts.
Meanwhile shares in Rentokil lost 2.25 percent at £15.17 after Raphoe Management, a bid vehicle of Gerry Robinson, said it had ended its talks with shareholders of the UK group.
In Paris, share prices closed lower on nervousness about US inflation, with investors reluctant to hold their positions over the weekend, dealers said.
Technology stocks bucked the trend on the CAC 40 with some gains, which dealers attributed to strong third-quarter results from Ericsson and Google.
Building material group Saint-Gobain showed the largest percentage loss, closing down 1.78 percent at 45.91 euros.
In Frankfurt, engineering conglomerate Linde was the worst performer on the Dax 30 index, sliding 2.91 percent to 58.30 euros, with dealers pointing to a weak chart and a large amount of stop-loss orders to explain the drop.
Elsewhere there were declines of 0.13 percent to 10,368.8 on the Ibex-35 in Madrid, 0.50 percent to 3,239.14 on the Bel-20 in Brussels, 0.77 percent to 386.08 on the AEX in Amsterdam, a rise of 0.36 percent to 32,454 on the SP/Mib in Milan and a decline of 0.49 percent to 6,851.61 on the Swiss Market Index.
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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