Europe opens higher despite US-N. Korea summit cancellation

Friday, 25. May 2018 09:02

Markets in Europe opened with gains on Friday after United States President Donald Trump decided to cancel his meeting with North Korean leader Kim Jong-un, which had been planned for June 12. Despite Trump's move, both North Korea and the US pointed out that they are willing to engage in direct talks in an effort to ensure peace on the Korean Peninsula. Elsewhere, investors will also be looking at the effect of the General Data Protection Regulation (GDPR), set to come into force today, on the performance of tech companies.

The FTSE 100 rose 0.45% at 9:00 am CET. The best performance was recorded by BT which jumped 2.29% at 9:07 am CET.

The DAX was 0.41% in the green at 9:03 am CET. Commerzbank, whose shares climbed 0.81% at 9:04 am CET, led the gains.

The CAC 40 added 0.42% at 9:01 am CET. The construction sector pushed the index higher with Bouygues increasing 1.05% at 9:03 am CET and LafargeHolcim up 0.94% at 9:04 am CET.

The euro lost 0.20% against the dollar to go for 1.1695 at 9:05 am CET.

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Breaking the News / NP