Dax pushes through 12,000 for the first time since April 2015. The price momentum is supported by a strong Eurocoin growth indicator, PMI figures and Ifo survey data, Saxo Bank’s head of equity strategy Peter Garnry explains.

European equities are trading at a 20% discount compared to the US, and therefore Garnry is looking at European equities and moves to a neutral stand on US equities.

We like mining, European financials, industrials and IT stocks, Garnry concludes.