Closing changes on the day:
German DAX, +0.2%France's CAC +0.3%UK's FTSE 100 +0.6%Spain's Ibex +0.8% Italy's FTSE MIB +0.4%On the week:
The Liberation Day declines have been nearly erased everywhere and Italy, Spain and Germany finished with record closing highs. I think this masks the extent of the battle that will unfold between the EU and US on trade, as I don't see any easy path to a compromise there.
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