Germany's DAX Index reached a new record high on May 9, 2025, surpassing its previous March peak and fully recovering from losses triggered by US President Donald Trump's trade tariffs announced in early April. The DAX rose as much as 0.7% to an intraday high of 23,543.27 points and closed at 23,489.43, up 0.59% for the day and 1.79% for the week. The rally was supported by optimism following a new trade agreement between the United States and the United Kingdom and expectations of further easing in global trade tensions, particularly ahead of high-level talks between the US and China. The broader Eurozone index, EuroStoxx 50, advanced 0.6% to 5,320 points. Spain's Ibex 35 climbed 0.8% for the week, closing at 13,554.1, its highest level since 2008, with a daily gain of 0.48%. Key contributors included renewable energy companies and IAG, while Logista and Cellnex posted declines. The euro stood at 1.246 USD, Brent crude at $63.97 per barrel, and gold at $3,344 per ounce. In the DAX, Commerzbank reported its strongest quarterly profit since 2011 at €834 million, with shares rising over 2%. Defense stocks such as Rheinmetall reached a record €1,744 before retreating, while Renk and Hensoldt saw losses. The MDax rose 0.8% to 29,792 points. The recovery in European equities follows a period of heightened volatility caused by the imposition of up to 145% US tariffs on Chinese imports and reciprocal measures from China. US President Trump has indicated a willingness to lower tariffs on Chinese goods to 80% and called for greater market access in China. Elsewhere, Wall Street indices posted modest gains, with the Dow Jones up 0.3% in early trading. In Asia, the Nikkei rose 1.56% for the week. Bitcoin surpassed $103,000, up 7.3% for the week.