The DAX has become the first major European index to break the 2007 highs that came before the global crisis.

Following the manufacturing data the index has exploded toward 8200, breaking the previous high from March at 8086.

_de30h4 07 05 2013

The rest of Europe is following suit with stocks across the board posting decent gains. Risk trades are coming back into focus with the German data leading hopes for some sort of recovery.