Stock indices closed lower as concerns over the situation in Yemen weighed on markets. Saudi Arabia and other Gulf states launched airstrikes against Iranian-backed Houthi rebel positions in Yemen.

The Gfk German consumer confidence index increased to 10.0 in April from 9.7 in March, beating forecasts for a rise to 9.8.

Eurozone's adjusted M3 money supply rose 3.7% in February, missing expectations for a 4.3% increase, after a 3.7 gain in January. January's figure was revised down from a 4.1% rise.

Retail sales in the U.K. increased 0.7% in February, exceeding expectations for a 0.4% rise, after a 0.1% gain in January. January's figure was revised up from a 0.3% drop.

The increase was driven by a drop in store prices.

On a yearly basis, retail sales in the U.K. climbed 5.7% in February, after a 5.9% increase in January. January's figure was revised up from a 5.4% rise.

The Confederation of British Industry (CBI) retail sales balance climbed to 18% in March from 1% in February, missing expectations for an increase to 20%.

The CBI director of economics, Rain Newton-Smith, said that he expects "growth to continue through Easter".

Indexes on the close:

Name Price Change Change %

FTSE 100 6,895.33 -95.64 -1.37 %

DAX 11,843.68 -21.64 -0.18 %

CAC 40 5,006.35 -14.64 -0.29 %

The European Central Bank (ECB) President, Mario Draghi, said in Rome on Thursday that there was already evidence that quantitative easing was working.

He pointed out that stimulus measures by the ECB are strengthening the "cyclical recovery", not structural.

Draghi noted that the central bank cannot buy Greek government bonds because "it does not purchase government bonds of countries that are in a programme with the IMF and the European Commission when the review of this programme has not been completed".

The ECB president said that the ECB also does not purchase due to low Greece's credit rating and due to high percentage of purchased bonds.

Draghi expects that the central bank's asset buying program will reach €60 billion by the end of March.

The Bank of Canada (BoC) Governor Stephen Poloz defended the central bank's interest rate cut in London on Thursday. He said that interest rate cut was needed to deal with falling oil prices. Oil is Canada's top export.

Poloz noted that falling oil prices weighed on the economic growth and the interest rate cut has given the central bank time to monitor the situation.

The BoC governor pointed out the central bank will continue to follow its monetary policy to achieve its 2% inflation target.

The Atlanta Federal Reserve Bank President Dennis Lockhart said at an investment education conference in Detroit on Thursday that he is confident that the recent weak U.S. economic data is temporary. He added that the weak economic data do not indicate a slowdown in the U.S. economy.

But Lockhart noted that consumers are "bit cautious".

The Atlanta Federal Reserve Bank president also said that he wants "to be able to move deliberately" towards interest higher rates when the Fed starts to raise its interest rate.

He believes that the divergence of monetary policy among major central banks was behind the recent increase of the U.S. dollar.

Lockhart is a voting member of the Federal Open Market Committee this year.

The European Central Bank (ECB) Governing Council member and Bundesbank President Jens Weidmann said on Wednesday that the central bank should monitor closely "signs of speculative excesses on asset markets" as European stock and bond markets rose rapidly in the past weeks.

He noted that he did not see a deflationary spiral in the Eurozone. Low inflation is driven by falling energy prices, the Bundesbank president said.

Quantitative easing by the ECB could lead that governments will lose motivation to implement reforms, Weidmann pointed out.

The Confederation of British Industry released its retail sales balance data on Thursday. The CBI retail sales balance climbed to 18% in March from 1% in February, missing expectations for an increase to 20%.

The CBI director of economics, Rain Newton-Smith, said that he expects "growth to continue through Easter". "The outlook ahead is looking bright, with household incomes buoyed by zero inflation and improving pay packets, which will continue to encourage spending," he added.

Sales expectations for next month declined to +21% from +27% in March, the lowest level since February 2014.

Stock-index futures fell as Saudi Arabia and its allies started bombing Shiite rebels in Yemen.

Global markets:

Nikkei 19,471.12 -275.08 -1.39%

Hang Seng 24,497.08 -31.15 -0.13%

Shanghai Composite 3,682.42 +21.69 +0.59%

FTSE 6,901.08 -89.89 -1.29%

CAC 4,953.99 -67.00 -1.33%

DAX 11,705.69 -159.63 -1.35%

Crude oil $50.39 (+2.46%)

Gold $1206.50 (+0.83%)

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

Upgrades:

Downgrades:

Other:

Apple (AAPL) reiterated at Outperform at Credit Suisse, target raised from $140 to $145

French labour ministry released its labour market data on late Wednesday. The number of unemployed people in France by 0.4% or 12,800 to 3.49 million in February.

In January, unemployment fell for the first time since August 2014.

European stocks declined on Thursday, extending early losses. Besides the positive German IFO business climate data Greece remains in the focus. Officials reported that the Greek government will present an updated list with planned reforms on Monday 30th to its Eurozone creditors. The air strikes on Houthi rebels, supported by Iran, in Yemen launched by Saudi Arabia and its allies weighs markets down as the geopolitical risks, including a direct conflict between Saudi Arabia and Iran, is rising.

Consumer Confidence in the Eurozone's largest economy rose again - the powerhouse of the E.U. is on track for a strong recovery. Today the GFK Institut für Marktforschung reported the Consumer Confidence Survey for April. The survey of about 2000 consumers showed an increase of the index from a previous reading of 9.7 to 10, beating estimates of 9.8.

The GFK Institute named a weaker euro as a consequence of the ECB's low interest rates policy and lower energy costs as main drivers of the increase. The German economy is very export-oriented and therefore amongst the biggest winners from a weakening single currency.

Today the ECB reported Eurozone's M3 money supply grew +4% in February, less than the expected +4.3% and but at a faster pace than in January (+3.7%).

Loans to the private sector declined and remained in negative territory for almost 3 years now. Private Loans declined by -0.1%, at the same pace as a year ago, below an estimated increase of +0.1%.

Retail Sales for February rose +0.7% compared to a decline in January of -0.3% and above estimates predicting an increase of +0.4%. Year on year Sales rose +5.7% according to the Office for National Statistics. A lower inflation rate and real wage growth boosted sales. Lower costs for food and energy were the main drivers. The CBI retail sales volume balance for March rose from 1 to 18 but remained under the estimated increase to 20.

The commodity heavy FTSE 100 index is currently trading lower, quoted at 6,896.40 -1.35%. Germany's DAX 30 slumped -1.75% trading at 11,675.70 points. France's CAC 40 is currently trading at 4,944.27 points, -1.53%.

European stocks dropped on Wednesday despite solid Consumer Confidence data from Germany. Renewed concerns about Greece weighed stock markets down. Although Greece promised a new draft of planned reforms for Monday next week the county was unable to secure a payment from the Eurozone Rescue Fund yesterday. Energy stocks surged on a rally in oil prices as tensions in Yemen drove prices higher.

Consumer Confidence in the Eurozone's largest economy rose again - the powerhouse of the E.U. is on track for a strong recovery. Today the GFK Institut für Marktforschung reported the Consumer Confidence Survey for April.

The survey of about 2000 consumers showed an increase of the index from a previous reading of 9.7 to 10, beating estimates of 9.8.

The GFK Institute named a weaker euro as a consequence of the ECB's low interest rates policy and lower energy costs as main drivers of the increase. The German economy is very export-oriented and therefore amongst the biggest winner from a weakening single currency.

The commodity heavy FTSE 100 index is currently trading -0.35% quoted at 6,966.58 points.. Germany's DAX 30, despite solid data, is trading lower at 11,703.97 points -1.36%. France's CAC 40 is currently trading at 4,985.25 points, -0.71%.

Consumer Confidence in the Eurozone's largest economy rose again - the powerhouse of the E.U. is on track for a strong recovery. Today the GFK Institut für Marktforschung reported the Consumer Confidence Survey for April.

The survey of about 2000 consumers showed an increase of the index from a previous reading of 9.7 to 10, beating estimates of 9.8.

The GFK Institute named a weaker euro as a consequence of the ECB's low interest rates policy and lower energy costs as main drivers of the increase. The German economy is very export-oriented and therefore amongst the biggest winners from a weakening single currency.

U.S. stocks booked losses on Wednesday continuing the decline. Yesterday's U.S. data on durable goods weighed. Durable goods orders dropped 1.4% in February, missing expectations for a 0.2% increase, after a 2.0% rise in January. January's figure was revised down from a 2.8% increase.

The U.S. durable goods orders excluding transportation declined 0.4% in February, missing expectations for a 0.4% gain, after a 0.7% decrease in January. January's figure was revised down from a 0.3% gain.

The S&P 500 closed -1.46% with a final quote of 2,061.05 points. The DOW JONES index lost -1.62%, closing at 17,718.54 points.

Chinese stocks were trading mixed again. Hong Kong's Hang Seng is trading lower -0.16% at 24,489.62 points. China's Shanghai Composite rose to 3,682.42 points closing +0.59% - positive again after ending the longest streak of positive days since 1992 yesterday. Chinese stocks were boosted by speculations on further monetary easing.

The Nikkei closed lower on Thursday and posted the biggest loss in 10 weeks although a report from the BoJ stated an optimistic outlook for the Japanese economy. The tech-sector led the index lower following sharp losses on Wall Street. The index closed -1.39% with a final quote of 19,471.12 points. Today a set of data including Household Spending, Unemployment Rate and the National Consumer Price Index is due.

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

S&P/ASX 200 5,973.32 +4.23 +0.07%

TOPIX 1,592.01 +4.42 +0.28%

SHANGHAI COMP 3,662.09 -29.32 -0.79%

HANG SENG 24,544.74 +145.14 +0.59%

FTSE 100 6,990.97 -28.71 -0.41 %

CAC 40 5,020.99 -67.29 -1.32 %

Xetra DAX 11,865.32 -140.37 -1.17 %

S&P 500 2,061.05 -30.45 -1.46 %

NASDAQ Composite 4,876.52 -118.21 -2.37

Dow Jones 17,718.54 -292.60 -1.62 %