More gains in Europe today: The trade of 2025 wasn't AI, it was Southern Europe
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European stock indices showed gains, with Southern Europe leading. The German DAX rose 0.4%, France's CAC 0.3%, UK's FTSE 100 0.7%, Spain's Ibex 0.45%, and Italy's FTSE MIB 0.7% on the day. Year-to-date, Spain's IBEX 35 is up 48.36%, Italy's FTSE MIB 30.91%, Germany's DAX 22.01%, UK's FTSE 100 21.12%, and France's CAC 40 10.72%. The euro's 13% rise amplifies these returns in USD. Despite challenges, Europe remains attractive as a shelter from AI trade.
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