European equities to open higher ahead of Trump-Kim summit

European equities will open higher Monday as a historic meeting between the U.S. President and the North Korean leader takes place.

The FTSE 100 is seen up by 16 points at 7,691; the DAX is expected to start up by 31 points at 12,784; and the CAC 40 is seen higher by 8 points at 5,444; according to IG.

Market focus this week is on the landmark summit between North Korea and the United States. Both President Donald Trump and North Korea’s Kim Jong Un are already in Singapore ahead of a scheduled meeting Tuesday morning at a luxury hotel.

The meeting takes place after tensions emerged between Trump and Western allies in the aftermath of a G-7 meeting. Trump decided to reject the joint G-7 statement after comments from Canadian Prime Minister Justin Trudeau that Canadians would not be pushed around.

The spat emerged due to different views on tariffs and world trade. Asian shares were trading higher on Monday despite continued tensions over trade.

In other news, over the weekend, Switzerland voted against making radical changes to its banking system. More than three-quarters of the population rejected the call for the central bank to be the only provider of cash.

In terms of data, there will be balance of trade figures due in the U.K. at 9.30 a.m. London time as well as manufacturing and industrial productions numbers at the same time.

Source: CNBC

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