And the eurozone has passed another bleak economic milestone. The official jobless rate across the 17 member states has hit a combined record high of 12 percent. More than 19 million people were unemployed in February.

 

That's an increase of one and three quarters million from last year. There's also a sharp downturn in factory output across the eurozone. Analysts say market confidence in the Euro has been dented by the Cyprus bailout and worries about the Italy's political instability.

 

Talking of Cyprus. The finance minister has resigned amid the fallout from his country's controversial bailout. Michalis Sarris has faced strong criticism for his handling of the negotiations with international creditors. 

 

He'd also been the president of the Laki Bank whose troubles contributed to the financial crisis in the first place. A judicial investigation has been ordered into just how Cyprus was brought to the edge of bankruptcy before accepting those tough conditions of a rescue deal.

 

Now the US indices ended higher, most across the board. London's FTSE also shot up, gaining more than one percent. 

 

West Texas Crude is trading at 97 US dollars a barrel. Tapis is at 116. Gold has dipped. It's down to 1576 an ounce. 

 

The Aussie dollar buying 104 US cents, 82 euro cents and 69 pence sterling.