European stocks are set to open higher on Friday morning, as market participants’ fears were calmed by North Korea‘s response to President Donald Trump‘s decision to cancel a landmark summit.

The FTSE 100 is seen up by around 31 points at 7,765; the CAC is expected to open 30 points higher at 5,581 while the DAX is poised to start up 76 points at 12,919, according to IG.

North Korea’s vice foreign minister said the country was still hopeful of a “Trump formula” in order to resolve a standoff over its nuclear weapons program. The isolated regime also said it would remain open to resolving issues with the U.S after Trump canceled an upcoming meeting with North Korean leader Kim Jong Un.

Asian stocks were seen on the defensive on Friday. MSCI’s broadest index of Asia-Pacific shares, excluding Japan, was almost flat.

Back in Europe, sweeping new data laws are set to be rolled out across the region on Friday. The introduction of General Data Protection Regulation (GDPR) is expected to have a far-reaching impact on some of the world’s biggest technology firms.

On the data front, French consumer confidence data for May are due to be published shortly before the opening bell, while Germany and Britain are both scheduled to publish business confidence data slightly later in the session.