Pre-election polls have often missed the mark in recent years. Romania’s 2024 election serves as a stark reminder: far-right candidate Călin Georgescu, initially polling low, defied all expectations with a shocking first-round victory. Germany’s latest elections, by contrast, were refreshingly predictable, with results closely aligning with pre-election forecasts.

Last May, we highlighted the conundrum of European value stocks — particularly banks — trading near their lowest valuations despite boasting their strongest fundamentals in over two decades. Despite continued outperformance, there remains significant potential for a valuation catch-up as investors reassess banks' strategic role in the energy transition.

DeepSeek’s R1 model—released last week—and the launch of the company’s mobile application—which is currently #1 in the US iOS App Store—has put investment theories about Artificial Intelligence companies under the spotlight, causing a Monday of epic falls on Wall Street. Nvidia saw its stock plunge 17%, losing USD 589 billion in market value—the largest daily loss in the history of the American market.