rather than pick out individual stocks to trade, it can often be worthwhile to trade the indices themselves, especially in times of high volatility.

for those so inclined, i attach below charts for FTSE and FTSE 250, though one might equally be tempted to trade Dow or S&P, which is significantly broader in its coverage, or even NASDAQ

for ease of reading, i have attached 1 year and 3 month charts in each instance

German Manufacturing Activity Falls Surprisingly in March

By Alex Brittain Growth in German business activity slowed in March as the manufacturing sector--the heart of its dominant export industry--surprisingly contracted. The figures may raise doubts about the German economy's ability to continue shrugging off weakness in neighboring euro-zone countries that have been more badly hit by the bloc's fiscal crisis. Activity across the German manufacturing and services sectors grew in March, but at a slower rate than in February, data provider Markit said Thursday. The composite purchasing managers' index fell to 51.0 from 53.3, the company's preliminary figures showed. A reading above the 50 threshold indicates month-to-month growth. But activity in the manufacturing sector fell below that threshold, with a reading of 48.9. Economists polled by Dow Jones Newswires last week had expected an improvement to 50.5 from the February figure of 50.3. Growth in services activity slowed sharply, to a reading of 51.6 from 54.7. "Germany looks set for a return to growth over the first quarter of 2013, but there are risks that the recovery will have subsided appreciably" in subsequent months, Markit economist Tim Moore said.

Euro-Zone Mar Composite PMI Flash Est Forecast At 48.3

EUR Flash Manufacturing PMI 46.6 consensus 48.2 previous 47.9

EUR Flash Services PMI 46.5 consensus 48.2 previous 47.3

GBP Retail Sales m/m 2.1% consensus 0.5% previous -0.6%

GBP Public Sector Net Borrowing 4.4B consensus 8.4B previous -9.9B

BOJ Governor Kuroda is speaking now.


Europe sets Cyprus bailout deadline, banks face cutoff

NICOSIA/MOSCOW | Thu Mar 21, 2013 9:30am GMT
(Reuters) - The European Central Bank gave Cyprus until Monday to raise billions of euros to clinch an international bailout or face losing emergency funds for its crippled banks and inevitable collapse.

The warning came with the island's leaders locked in talks on a "Plan B" to raise 5.8 billion euros demanded by the EU under a 10 billion euro ($13 billion) rescue, after angry lawmakers threw out a tax on deposits as "bank robbery".

Recession stalks France as business slump hits crisis levels - PMI

PARIS | Thu Mar 21, 2013 8:37am GMT
(Reuters) - French business activity shrank in March at the fastest pace in four years, defying expectations for an improvement and probably plunging the euro zone's second-biggest economy into a recession, a survey showed on Thursday.

Data compiler Markit said its preliminary composite purchasing managers' index, covering activity in the manufacturing and services sector combined, came out at 42.1, falling from 43.1 in February.

The drop brought the index to its lowest level since March 2009, when France and much of the developed world was mired deep in a recession triggered by the financial crisis.

Spanish 10-y Bond Auction 4.90|1.9 previous 4.92|2.3

According to the proprietors of my local kebab shop, who are greek cypriots, Cyprus is sitting on quite alot of oil (as yet untapped) and this is what the russians may use as a bargaining tool when loaning them money, which they have, apparently, already done in the recent past. Of course the problem remains with the ongoing dispute with the turks, which presumably presents the russians with a dilemma.

Harry - a date for your diary - Cyprio​t-Greek Oil & Gas 2013 Summit

In just the same way as a mine is a hole in the ground with a liar stood over, the Cypriot gas reserves are.....

The reserves are as yet unproven and may never materialise. And if they do exist, nobody is going to see any return for many moons to come. The Ruskies may be a lot of things, but they're certainly not thick.

Here's what the Grauniad had to say on the subject earlier this week

Duly noted hilary, but what did they use as collateral when they last borrowed money from the russians? I don't know how much it was nor the exact date, but I am assured that they have already done so recently?

I think I saw something similar on here.

Harry,

It was a 5 year deal set-up back in 2011 for €2.5bn, and came with "no strings attached". Personally, I think the interest rate being charged of 4.5% pa represents quite a thick bit of string, but wdik?

Cheers. ....and looks like they are trying to extend it...."Cyprus turned to Russia for a lifeline, seeking a five-year extension on a €2.5bn loan granted in December 2011 that is due to mature in 2016. It has also asked Russia to refinance the loan and lend an additional €5bn."

Well there you have it. The Ruskies have got them by the short and curlies, haven't they?

UK Index-Linked Gilt Sale Draws Strong Demand

By Nick Cawley The U.K. attracted strong demand at a sale of index-linked gilts Thursday, despite pricing with a negative real yield. The Debt Management Office said the 900-million-pound ($1.37 billion) auction of the 0.125% 2044 index-linked gilt attracted a bid-to-cover ratio, a gauge of demand, of 2.02. The gilts were sold at a real striking price of GBP104.93, for a real yield of -0.033%. Index-linked gilts are bonds that have their prices and coupons adjusted in line with retail price inflation.

Absolutely, but the russians won't (imo) allow a default without some kind of concession from the cypriots. So what has Cyprus got that the russians want? Mineral rights or a strategic foothold in the Med/Eurozone, or just a thorn in the side of Nato?

Looks to me like there won't be much propping up over inflated indicies for long....

Also the Cyprus cash for gas is a fast as per posts above, nothing yet proven and not even close to any sort of production, don't see how you could sell bonds in something that is yet to exist..

they could sell them "on a promise to pay", rather like pound notes!

Exclusive - Euro zone call notes reveal extent of alarm over Cyprus

BRUSSELS | Thu Mar 21, 2013 10:56am GMT
(Reuters) - Euro zone finance officials acknowledged being "in a mess" over Cyprus during a conference call on Wednesday and discussed imposing capital controls to insulate the region from a possible collapse of the Cypriot economy.

In detailed notes of the call seen by Reuters, one official described emotions as running "very high", making it difficult to come up with rational solutions, and referred to "open talk in regards of (Cyprus) leaving the euro zone".

The call was among members of the Eurogroup Working Group, which consists of deputy finance ministers or senior treasury officials from the 17 euro zone countries as well as representatives from the European Central Bank and the European Commission. The group is chaired by Austria's Thomas Wieser.