Good morning. Here’s what you need to know.
- Asian indices were mixed in overnight trading with the Nikkei down 0.21%. Major European indices are down and US markets have opened slightly lower. Now, here are the 10 unusual stocks attracting huge interest this morning >
- TEPCO is expected to declare itself insolvent or be nationalized. Its shares have plummeted in overnight trading and its President Masataka Shimizu who was recently under pressure to resign hasn’t been seen in weeks. He is rumoured to have fled Japan. Don’t Miss: The 12 Japanese Companies Slammed Hardest By The Disaster >
- The S&P Case Shiller home price index came in weak. Read about it here >
- German consumer sentiment is expected to decline in April spurred by rising inflation and unrest in the Mideast. The index is expected to decrease by 0.1 point. Check out the debt situation in the eurozone >
- S&P has threatened to downgrade Portuguese sovereign debt for the third time in a week. They also downgraded 5 Portuguese banks. Meanwhile yields on Portuguese bonds are soaring. Don’t miss: Niall Ferguson’s complete explanation of sovereign debt crises >
- The Syrian Cabinet is expected to resign and a new cabinet is expected to take power today. Thousands of supporters however gathered in Damascus today to pledge their support for Syrian President Bashar al-Assad.
- American diplomat Chris Stevens is expected to meet with Libyan rebels today in order to form closer ties. The international community has begun to recognise the Libyan National Council and oil prices have declined further on the news. Here are the 11 countries at risk of becoming the next Libya >
- Homebuilder Lennar Corp announced a 1Q profit of $27.4 million despite lower home sales which affected overall revenue.
- Consumer confidence data showed a sharp decline from February’s highs. Read about it here >
- Spain’s third largest savings bank Banco Base will request a $4 billion bailout from the country’s bank restructuring fund. Don’t Miss: The 14 Countries More Likely To Default Than Spain >
- BONUS – Sofia Vergara from Modern Family was seen filming an ad for Pepsi with David Beckham in Los Angeles.
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