London (AFP) – Stock markets mostly rose Friday with all eyes on a landmark US-Russia summit aimed at ending the war in Ukraine. US President Donald Trump and Russian counterpart Vladimir Putin meet in Alaska later in the day.
After Asia’s main exchanges mostly closed higher, European markets were “gaining traction,” noted Joshua Mahony, chief market analyst at traders Scope Markets, as the Trump-Putin meeting raised hopes of a “potential end to the war.” Russia’s foreign minister said his country would not make guesses on the outcome of Friday’s summit. “We never make any predictions ahead of time,” Russian Foreign Minister Sergei Lavrov told Russian state TV after landing in Alaska.
Putin steps onto Western soil for the first time since he ordered the invasion of Ukraine in February 2022, a war that has killed tens of thousands of people. Every word and gesture will be closely watched by European leaders and Ukrainian President Volodymyr Zelensky, who was not included and has publicly refused pressure from Trump to surrender territory seized by Russia.
“Broadly, markets seemed in an optimistic mood,” said AJ Bell, investment director Russ Mould. “Oil prices have been somewhat volatile ahead of the summit as traders seek to work out if Russian exports to Western countries might resume.” After climbing Thursday, crude futures were lower Friday.
Elsewhere, Tokyo’s main stocks index extended a record-run higher following Japanese economic growth data that beat expectations. Weak Chinese economic figures resulted in a mixed showing for Chinese stocks. Wall Street finished little changed on Thursday as US wholesale inflation data tempered optimism about the Federal Reserve cutting interest rates. A quarter-point cut is still expected next month but a larger half-point rate cut is likely “off the table,” said Jack Ablin of Cresset Capital Management.
– Key figures at around 1100 GMT –
London – FTSE 100: UP 0.1 percent at 9,185.95 points
Paris – CAC 40: UP 0.7 percent at 7,926.17
Frankfurt – DAX: UP 0.3 percent at 24,438.63
Tokyo – Nikkei 225: UP 1.7 percent at 43,378.31 (close)
Hong Kong – Hang Seng Index: DOWN 1.0 percent at 25,264.47 (close)
Shanghai – Composite: UP 0.8 percent at 3,696.77 (close)
Euro/dollar: UP at $1.692 from $1.1657 on Thursday
Pound/dollar: UP at $1.3561 from $1.3535
Dollar/yen: DOWN at 146.92 yen from 147.76
Euro/pound: UP at 86.22 pence from 86.05 pence
West Texas Intermediate: DOWN 0.6 percent at $63.59 per barrel
Brent North Sea Crude: DOWN 0.5 percent at $66.53 per barrel
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© 2024 AFP
