Traders in front of the DAX board at the stock exchange in Frankfurt. Photo: Reuters
Traders in front of the DAX board at the stock exchange in Frankfurt. Photo: Reuters

Europe’s rally today is very much a risk-on macro affair, with Basic Resources up more than 2% on the back of higher commodity prices, and financial services up 1.3%. The strongest performers in the DAX Index are the utility RWE and Siemens; yesterday the beaten-up banks were the best performers.