European stocks open higher as Trump-Kim sign accord

European stocks open higher Tuesday after U.S. President Donald Trump signed a deal with the North Korean leader, with the latter claiming there will be a major change in the world.

The pan-European Stoxx 600 was up by 0.24 percent with most sectors moving in the black.

All eyes were on Singapore Tuesday where a historic meeting between North Korea and the United states went “better-than-expected,” according to President Trump.

North Korean leader Kim Jong Un said, alongside with Trump, that their agreement will lead to a “major” change in the world. However, market players are still waiting for details on that deal.

Asian markets were trading higher as the meeting took place and the dollar hit a three-week high versus the yen too.

Meanwhile, IMF Managing Director Christine Lagarde has voiced criticism for Trump’s trade policy. “The biggest and darkest cloud that we see is the deterioration in confidence that is prompted by (an) attempt to challenge the way in which trade has been conducted, in which relationships have been handled and in which multilateral organizations have been operating,” Lagarde said Monday after the showdown in the G-7 meeting over the weekend.

In corporate news, Daimler is recalling 238 000 vehicles to clarify the legality of unauthorized software, after reports from the German Transport Ministry that the company might have used defeated devices in Europe.

In France, Carrefour is joining forces with Google to boost its online shopping offer, starting next year, Reuters reported.

In terms of data, there will be unemployment numbers out in the U.K. at 9.30 a.m. London time and the euro zone economic sentiment index for June will be released at 10 a.m. London time.

Source: CNBC

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