Landmark Koreas meeting shores up stock market sentiment – Minneapolis Star Tribune

This post was originally published on this site

LONDON — Global stock markets tracked Wall Street higher on Friday on strong U.S. earnings and as hopes swelled over the landmark summit of the leaders from North and South Korea.

KEEPING SCORE: In Europe, Germany’s DAX rose 0.8 percent to 12,601 and France’s CAC 40 added 0.3 percent to 5,469. London’s FTSE 100 jumped 0.9 percent to 7,485, though that rise had more to do with the sharp fall in the pound following worse than expected U.K. economic growth figures. Wall Street was headed for modest falls at the open with Dow futures and the broader S&P 500 futures down 0.2 percent — on Thursday, both indexes rose 1 percent amid strong earnings from the likes of Facebook, Amazon, Starbucks and United Parcel Services.

KOREA SUMMIT: Geopolitical hopes are helping global stock markets too after Kim Jong Un became the first North Korean leader to visit South Korea since the end of the Korean War in 1953 for talks with the South’s president, Moon Jae-in, about the North’s nuclear program. The meeting comes amid mounting pressure on Kim’s government to give up nuclear and missile development. Kim and Moon greeted each other warmly and then held a private meeting. The two sides repeated a previous vow to rid the Korean Peninsula of nuclear weapons but failed to provide any specific new measures or forge a potential breakthrough on an issue that has captivated and terrified many since the rivals seemed on the verge of war last year.