ATHsThe DAX index this week hit a fresh all-time high powered by robust earnings and an SAP comeback as the AI trade rotates. Germany now joined virtually every major European equity market in making new all-time highs. The UK, France, Italy, Spain and the Netherlands have all joined the ATH party, while the STOXX 600 continues to print fresh records. For all the focus on Mag-7 and AI, Europe is enjoying one of the broadest bull markets in its history.