Germany’s DAX closes up 1.09% at 25,656.97, gaining about 2.3% on the week

The DAX's weekly gain outpacing its single-session move suggests the bid was built over several days rather than one catalyst, with Italian banks adding a sector-level tailwind to the broader European advance. The dispersion is the story: Germany and Italy led while France and the UK lagged, implying this was not a uniform risk-on session but a rotation favoring specific markets. Whether that leadership persists into next week, or narrows as the DAX approaches its recent highs, is the open question.