10 Things You Need To Know This Morning

Gwen Stefani

Photo: commons.wikimedia.org

Good morning. Here’s what you need to know.

  • Asian indices were mixed in overnight trading with the Nikkei down 0.32%. Major European indices are in the green and U.S. markets have opened positive. Now, here are the 10 unusual stocks attracting huge interest this morning >
  • The Portuguese government sold 6-month and 12-month treasury bills today with aims to raise up to €1bn in short-term government debt. Yields on 12-month bonds were higher than the 5-year yields on EU backed bailout bonds Portugal could tap. Check out the full details on the debt situation in the eurozone >
  • UK production fell 1.2% in February from the previous month indicating a slowdown in the recovery but YoY numbers were up. A slowdown in energy production hurt overall numbers. 
  • The Euro soared to $1.43, a 14-month high against the dollar ahead of the ECB meeting tomorrow to determine interest rates. The ECB is expected to announce a rate hike. Don’t miss: Citi believes these 8 shocks are about to hit the economy >
  • TEPCO managed to stop the leak of radioactive water into the ocean late yesterday. Workers had been trying to control the flow for 5 days. The report comes after Japan caught a radioactive fish between Fukushima and Tokyo yesterday. Check out photos of the workers trying to save Fukushima >
  • The U.S. and Colombia are expected to announce a free-trade pact today after a long deadlock in negotiations. The deal would give the US access to Colombian markets without current custom duties and could increase exports by $1 billion a year.
  • Germany’s Commerzbank plans to repay €14.3bn to the government, a move that would reduce its dependence on state funding. The bank had €18.2 billion in “silent participation” from the government during the global economic recession and hopes to repay 90% of that by summer.
  • Spain’s newly formed Bankia which consists of Caja Madrid and six savings banks, will create a bad bank for its riskier assets ahead of its stock market listing this year.
  • Gold reached an all time high yesterday, and rose to $1,460.20 an ounce in morning trading today.
  • Meetings on the U.S. budget continue today, with Republicans and Democrats trying to avoid a government shutdown as soon at the weekend. The U.S. House Republican 2012 budget proposal was revealed yesterday calling for $6.2 trillion in cuts over the next decade. Check out Rep. Paul Ryan’s full list of cuts here >
  • BONUS: Gwen Stefani was reported saying “I’m very vain… Of course I am, you know what I mean? I love the visual.” as she graced the cover of Elle.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.