German and UK stocks close at record highs ...Middle East

STOXX 600 +1.2% to record highDAX +2.6% to record highFTSE 100 +0.7% to record highFrench CAC +1.2%Spain IBEX +0.3%

Cheap valuations and a hated market can lead to some incredible rallies.

This article was written by Adam Button at www.forexlive.com.

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