FTSE 100 rises slightly as US tech stocks fall sharply

Summarised from 2 outlets · Updated 30 Oct, 17:46 · Archive

London's FTSE 100 closed 0.1% higher on Friday while US technology stocks tumbled on concerns about artificial intelligence spending.

London's FTSE 100 drifted in and out of positive territory before closing slightly higher on Friday, rising 7.71 points or 0.1% to 10,729.78. However, equities across the Atlantic tumbled as worries over artificial intelligence sector spending sent technology stocks deeply into the red.

Other UK indices performed worse. The FTSE 250 fell 220.80 points or 0.9% to 24,453.36, while the AIM all-share declined 10.37 points or 1.4% to 753.08. Over the week, the FTSE 100 added 0.4%, the FTSE 250 rose 0.9% and the AIM all-share also climbed 0.9%.

European markets reflected the weakness in US tech. Frankfurt's DAX 40 fell 0.9%, weighed down by energy technology firm Siemens Energy, semiconductor company Infineon Technologies and infrastructure group Hochtief, all exposed to data centres. Paris's CAC 40 ended flat, though Schneider Electric, which provides data centre services, fell. In London, investment trust Polar Capital Technology shed 6.0%, with its portfolio heavily concentrated in US technology names that declined stateside.

How it is being reported

• FTSE 100 edges up but tech woes rock New YorkThe FTSE 100 index edged up 7.71 points, or 0.1%, at 10,729.78.Independent Business · 30 Oct, 17:17
• FTSE 100 edges up but tech woes rock New YorkThe FTSE 100 index edged up 7.71 points, or 0.1%, at 10,729.78.Evening Standard · 30 Oct, 17:17

In this story: FTSE 100 · FTSE 250 · Siemens Energy · Infineon Technologies · Schneider Electric · Polar Capital Technology · London · New York

This summary was written by AI from the headlines and standfirsts above, and states as fact only what at least two outlets report. How we use AI · Report a problem · Corrections log