Most stock indices closed higher on mostly better-than-expected PMIs from the Eurozone. Eurozone's preliminary manufacturing PMI increased to 51.9 in March from 51.0 in February, exceeding expectations for a rise to 51.6.

Eurozone's preliminary services PMI rose to 54.3 in March from 53.7 in February. Analysts had expected the index to climb to 53.9.

Germany's preliminary manufacturing PMI climbed to 52.4 in March from 51.1 in February, beating forecasts of an increase to 51.5.

Germany's preliminary services PMI increased to 55.3 in March from 54.7 in February, beating expectations for a gain to 55.0.

France's preliminary manufacturing PMI was up to 48.2 in March from 47.6 in February, missing forecasts of a rise to 48.9.

France's preliminary services PMI fell to 52.8 in March from 53.4 in February, missing expectations for a decline to 53.1.

The U.K. consumer price index declined to zero in February from 0.3% in January, missing expectations for a fall to 0.1%. That was the lowest level since 1989.

The drop was driven by lower prices for food and computer goods.

U.K. consumer price inflation excluding food, energy, alcohol and tobacco prices fell to 1.2% in February from 1.4% the month before.

The consumer price inflation is below the Bank of England's 2% target.

Indexes on the close:

Name Price Change Change %

FTSE 100 7,019.68 -17.99 -0.26 %

DAX 12,005.69 +109.85 +0.92 %

CAC 40 5,088.28 +33.76 +0.67 %

The St. Louis Federal Reserve Bank President James Bullard said in London on Tuesday that zero percent interest rate in the U.S. is no longer appropriate. He added that the U.S. economy will remain "extremely accommodative" even if the Fed will start to raise slowly its interest rate in the summer.

The St. Louis Federal Reserve Bank president expects that the U.S. economy will recover in the second quarter.

Bullard isn't currently a voting member of the Federal Open Market Committee.

The Bank of Japan (BoJ) Governor Haruhiko Kuroda said on Tuesday that he held talks with Prime Minister Shinzo Abe on Monday. He told Abe that the country's economy continues to recover moderately, and that inflation will increase.

Kuroda said to Abe that inflation is slowing due to falling oil prices but there is no change in the long-term rising trend.

The BoJ governor also said on Tuesday that tapering asset purchases is one option to end quantitative easing.

Markit Economics released its preliminary manufacturing purchasing managers' index (PMI) for the U.S. on Tuesday. The U.S. preliminary manufacturing purchasing managers' index (PMI) rose to 55.3 in March from 55.1 in February, beating expectations for a decline to 54.9. It was the highest level since October 2014.

A reading above 50 indicates expansion in economic activity.

The Markit Chief Economist Chris Williamson said that "manufacturing regained further momentum from the slowdown".

The preliminary output index increased to 58.2 in March from 57.3 in February.

The preliminary new orders index rose to 56.4 in March from 55.8 in February.

The U.S. Commerce Department released new home sales data on Tuesday. New home sales climbed 7.8% to a seasonally adjusted annual rate of 539,000 units in February from 500,000 units in January. It was the highest level since February 2008.

January's figure was revised up from 481,000 units.

Analysts had expected new home sales to reach 472,000 units.

The increase was driven by higher sales in the Northeast. New home sales in the Northeast rose 152.9% in February, after a 45.2% decline in January.

The median sales price of new houses sold was $275,500 in February, down from $289,400 in January.

The Japanese Cabinet Office upgraded its assessment of the economy on Monday as business climate improved. It was the first time in eight months.

The government said that Japan's economy recovers moderately. The economy is expected to recover, supported by falling oil prices and stimulus measures, while "employment and income situation show a trend toward improvement", the Cabinet Office said.

Japan's government noted that a slowdown in overseas economies is a downside risk of the Japanese economy.

The European Central Bank (ECB) Governing Council member Christian Noyer said on Monday that the central bank can provide more liquidity assistance to Greek banks if they will not use it to finance the country's government. He warned that Greece must turn to capital controls only as a "last resort". Noyer added that the Greek government should restore confidence among the corporates and the households.

China's factory activity dropped in March. The preliminary HSBC Purchasing Managers' Index (PMI) declined to 49.2 in March from a final reading of 50.7 in February. It was the lowest level since April 2014. The decline was driven by lower new orders.

Analysts had expected the index to decline to 50.5.

A reading below 50 indicates a contraction of the activity.

These figures could mean that the government might implement further stimulus measures.

The U.S. Labor Department released consumer price inflation data on Tuesday. The U.S. consumer price inflation rose 0.2% in February, in line with expectations, after a 0.7% decline in January.

The increase was driven by higher gasoline prices. Gasoline prices rose 2.4% in February, for the first time since June 2014. It was the largest rise since December 2013.

Food prices climbed 0.2% in February, shelter expenses rose 0.2%, while apparel prices increased 0.3%.

On a yearly basis, the U.S. consumer price index climbed to zero in February from -0.1% in January. Analysts had expected the index to remain unchanged at -0.1%.

The U.S. consumer price inflation excluding food and energy gained 0.2% in February, exceeding expectations for a 0.1% increase, after a 0.2% rise in January.

On a yearly basis, the U.S. consumer price index excluding food and energy climbed to 1.7% in February from 1.6% in January. Analysts had expected the index to remain unchanged at 1.6%.

The Fed noted last week that it would hike interest rate when it is "reasonably confident" that low inflation is on track to return to its 2% target and as long as the labour market keeps strengthening.

U.S. stock-index futures fluctuated as investors weighed stronger-than-forecast gains in consumer prices for clues on when the Federal Reserve will raise interest rates.

Global markets:

Nikkei 19,713.45 -40.91 -0.21%

Hang Seng 24,399.6 -94.91 -0.39%

Shanghai Composite 3,691.95 +4.22 +0.11%

FTSE 7,046.37 +8.70 +0.12%

CAC 5,066.25 +11.73 +0.23%

DAX 11,898.95 +3.11 +0.03%

Crude oil $48.23 (+1.64%)

Gold $1191.70 (+0.33%)

(company / ticker / price / change, % / volume)

Upgrades:

Downgrades:

Other:

NIKE (NKE) reiterated at Buy at Argus, target raised from $110 to $116

Boeing (BA) reiterated at Buy Jefferies, target raised from $165 to $185

The Federal Reserve Bank of San Francisco President John Williams said in Sidney on Tuesday that the Fed should start to discuss about hiking interest rate by mid-year. He added that the Fed should raise its interest rate "gradually over the next couple of years to more normal levels". Williams expects full employment by the end of the year and the U.S. economic growth to reach 2.5%. He downgraded his GDP growth from a previous estimate of just below 3%.

Despite solid PMI data showing that the Eurozone is on track to recover European indices shed early gains in today's trading. The data suggests that low energy prices combined with a weaker euro and the quantitative easing started by the ECB this month already have a positive impact on the economic development. Greece's future in the Eurozone and reform plans as condition of a further bailout remain in the focus.

At 12:30 GMT U.S. data on inflation will be in investors focus as inflation was named as one of the factors considered by the FED on when to hike benchmark interest rates.

The French Manufacturing PMI for March rose from a previous reading of 47.6 to 48.2 but remained below estimates of an increase to 48.9 - and below the 50 mark that separates growth from contraction. The Services PMI declined from 53.4 to 52.8 not meeting expectations of a decrease to 53.1. The data not only shows a divergence between the service and manufacturing sector but also with Germany, Eurozone's powerhouse and largest economy.

German data came in better-than-expected with the Manufacturing PMI at 52.4, above estimates for an increase to 51.5 and a previous reading of 51.1. The Manufacturing activity rose to the highest level in eight months. The German Services PMI rose from 54.7 to 55.3 beating estimates of an increase to 55.0. German PMI data is a solid sign of the economic recovery.

Eurozone data came in better-than-expected with the Manufacturing PMI at 51.9, above estimates for an increase to 51.6 and a previous reading of 51.0. The Manufacturing activity rose to the highest level in ten months. The German Services PMI rose from 53.7 to 54.3 beating estimates of an increase to 53.9 - a new 46-month high.

Eurozone's recovery is gaining momentum.

The Producer Price index Input rose less-than-expected in February, according to the National statistics bureau. The Index rose +0.2%, a positive reading for the first time in nine months, but far below estimates of an increase of +1.6%. Last month's reading was revised up -3.6% from previous -3.7%.

The Producer Price index Output rose +0.2%, beating estimates of a decline by -0.1% after falling -0.4% in January.

Retail Prices rose +0.5% in February compared to a decline of -0.8% in January.

The HICP, that monitors retail price changes for goods and services included into the consumer goods basket, rose +0.3% month on month but declined year on year to 0.0% - according to constructed historical data the lowest since 1960, said the Office of National Statistics. Analysts expected a decline to +0.1%. Food, non-alcoholic drinks, furniture, computers and household equipment had the largest effect on the reading.

The HICP ex EFAT, excluding the volatile costs of food and energy, measuring core inflation rose +1.2% year on year compared to a previous reading of +1.4% and below the estimated +1.3%.

The FTSE 100 index is currently trading higher, quoted at 7,043.89 +0.09%. Germany's DAX 30 lost -0.05% trading at 11,890.46 points. France's CAC 40 is currently trading at 5,062.74 points, +0.16%.

BLOOMBERG

Analyst Predicts Apple Will Hit a $1 Trillion Market Cap

As Apple gets ready to launch its first new product in five years, Cantor Fitzgerald is raising its price target to a level that would make Apple a $1 trillion company.

People first started talking seriously about the potential for Apple to become a trillion dollar company in February when shares reached new highs, surpassing the $700 billion market cap level. The current stock price of $127 a share gives the company a valuation of $744 billion. Cantor analyst Brian White currently has the highest price target on Wall Street.

Source: http://www.bloomberg.com/news/articles/2015-03-23/analyst-predicts-apple-will-hit-a-1-trillion-market-cap

REUTERS
Greece promises list of reforms by Monday to unlock cash

(Reuters) - Greece said it will present a package of reforms to its euro zone partners by next Monday in hope of unlocking aid to help it deal with a cash crunch and avoid default.

"It will be done at the latest by Monday," government spokesman Gabriel Sakellaridis told Mega TV.

Greece's left-wing government and its euro zone creditors agreed last week that Athens would come up with a list of its own reforms, which must achieve a similar budget impact to measures agreed by the previous conservative-led administration.

Athens is rushing to get the list ready before state coffers run empty, which is expected to happen in a few weeks without more aid.

Source: http://www.reuters.com/article/2015/03/24/us-eurozone-greece-reforms-idUSKBN0MK0F420150324

BLOOMBERG

Iran Could Add Million More Barrels a Day to the Oil Glut

(Bloomberg) -- Iran says it could add a million barrels to daily oil production shortly after a deal to lift sanctions, reclaiming the position of OPEC's second-largest supplier. While such a boost would take months because sanctions may be rolled back slowly, industry observers agree the capacity is there.

Going further than that and adding a second million barrels -- as the government has said it plans to do -- will prove a much bigger challenge. It would take some five years and tens of billions of dollars of investment, according to two former oil-industry executives who worked in the country.

"The number one need is investment," said Mohsen Shoar, an analyst with Continental Energy DMCC in Dubai who helped ConocoPhillips negotiate oil contracts in Iran in the 1990s. "To get anywhere beyond 4 million barrels a day" will require foreign assistance, he said by phone.

Source: http://www.bloomberg.com/news/articles/2015-03-19/iran-can-add-million-barrels-of-oil-fast-but-needs-help-for-more

European stocks open higher on Tuesday amid hopes on a progress in the negotiations between the E.U and Greece and better-than expected PMI data from Germany.

Early in the day data on the preliminary Chinese HSBC Manufacturing PMI for March came in at 49.2, an 11-month low, as new orders declined. The February reading was 50.7 and analysts expected a decline to 50.5. The reading below 50 added to indications that the world's second largest economy is slowing and could lead to further stimulus measures by the PBoC.

The French Manufacturing PMI for March rose from a previous reading of 47.6 to 48.2 but remained below estimates of an increase to 48.9 - and below the 50 mark that separates growth from contraction. The Services PMI declined from 53.4 to 52.8 not meeting expectations of a decrease to 53.1. The data not only shows a divergence between the service and manufacturing sector but also with Germany, Eurozone's powerhouse and largest economy.

German data came in better-than-expected with the Manufacturing PMI at 52.4, above estimates for an increase to 51.5 and a previous reading of 51.1. The Manufacturing activity rose to the highest level in eight months. The German Services PMI rose from 54.7 to 55.3 beating estimates of an increase to 55.0. German PMI data is a solid sign of the economic recovery.

The FTSE 100 index is currently trading +0.20% quoted at 7,049.75 points ahead of a set of data including U.K.'s PPI, Retail Prices and the HICP. Germany's DAX 30 is trading higher at 11,928.38 points +0.30%. France's CAC 40 is currently trading at 5,064.75 points, +0.2%.

German Ifo Institute released its business confidence index on Friday. German business confidence index climbed to 108.6 in April from 107.9 in March, exceeding expectations for a rise to 108.5. It was the sixth consecutive increase.

"The upswing in the German economy continues," Ifo President Hans-Werner Sinn said.

He added that manufacturers "expressed slightly less optimism about future business developments".

The Ifo current conditions index rose 113.9 in April from 112.1 in March, beating forecasts for an increase to 112.4.

The Ifo expectations index declined to 103.5 in April from 103.9 in March, missing expectations for a gain to 104.5.

U.S. stocks declined on Monday trading between small losses and gains retreating from last week's gains. The S&P 500 closed lower -0.17% with a final quote of 2,104.42 points. The DOW JONES index moderately declined and closed at 18,116.04 points, -0.06%.

Chinese stocks were mixed on Tuesday. Hong Kong's Hang Seng is trading lower -0.37% at 24,403.92 points. China's Shanghai Composite closed at 3,691.95 points closing +0.11% - up for a ninth consecutive day and setting a new 3-year high at 3,715.87 points. The weaker-than-expected PMI data at 11-month lows indicating a contraction fuelled speculations on further economic stimulus.

The Nikkei declined on soft Chinese and Japanese PMI and a lower Wall Street but losses were limited and the index remains close to its newly set 15-year high reached on Monday. Data on Japanese the Japanese Production PMI came in at 50.4 for March, a decrease from a previous reading of 51.6 and below an expected increase to 52.1. The preliminary Chinese HSBC Manufacturing PMI for March came in at 49.2, an 11-month low, as new orders declined. The index closed -0.21% with a final quote of 19,713.45.

(index / closing price / change items /% change)

Nikkei 225 19,754.36 +194.14 +0.99 %

Hang Seng 24,494.51 +119.27 +0.49 %

Shanghai Composite 3,687.81 +70.49 +1.95 %

FTSE 100 7,037.67 +15.16 +0.22 %

CAC 40 5,054.52 -32.97 -0.65 %

Xetra DAX 11,895.84 -143.53 -1.19 %

S&P 500 2,104.42 -3.68 -0.17 %

NASDAQ Composite 5,010.97 -15.44 -0.31 %

Dow Jones 18,116.04 -11.61 -0.06 %