ZCZC
BCN-12
MARKETS-EUROPE-OPEN
European stocks rise on historic Trump-Kim summit
LONDON, June 12, 2018 (BSS/AFP) – Europe’s stock markets rose at the open
on Tuesday, as investors responded warmly to US President Donald Trump’s
historic Singapore summit with North Korea’s leader Kim Jong Un.
In initial trade, London’s benchmark FTSE 100 index of major blue-chip
companies advanced almost 0.3 percent to 7,757.89 points.
In the eurozone, Frankfurt’s DAX 30 added 0.6 percent to 12,924.03 points
and the Paris CAC 40 gained 0.4 percent to 5,494.83, compared with the
closing levels on Monday.
“The market focus of the world is focused on the events taking place in
Singapore, with history being made today as Donald Trump became the first
sitting American president to meet face-to face with a North Korean leader,”
said analyst Lukman Otunuga at traders FXTM.
“The market reaction has been mostly positive, and this sentiment is
likely to continue with the expectance that President Trump and Kim Jong Un
are to discuss the future of Pyongyang’s nuclear programme.”
Trump said Tuesday that he has formed a “special bond” with Kim, at the
end of a historic meeting during which the two former foes pledged to meet
again.
The pair signed what Trump called a “pretty comprehensive” and “very
important” document, which spoke of “new US-DPRK relations” and committed
Washington to “security guarantees”.
However, asked about denuclearisation — the crux of the summit, Trump
said “we’re starting that process”, adding that it would begin “very, very
quickly.”
For his part, Kim said the two Cold War foes had vowed to “leave the past
behind”, pledging “the world will see a major change.”
BSS/AFP/MR/ 1350 hrs