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Europe Closes at Day's Lows Despite Euro Rally

Markets are a bit weaker as Europe has closed essentially at the lows of the day, despite a second day of rally in the euro. Germany closed down 0.4 percent after trading up for the entire session.

There is lots of talk that the poor economic data in the US in the last two weeks now makes Europe a more attractive investment opportunity.

This is largely a valuation call: since the markets started getting rocky in the beginning of May, most European bourses have underperformed the US. The exception is Germany.

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