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Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report

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Speaker 1: for Monday, the nineteenth of May twenty twenty five. I'm

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Speaker 1: Sean Elmer. Every afternoon, we've got the five stories that

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Speaker 1: have happened today that you need to know about. Story

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Speaker 1: number one. After eight positive sessions, a local market dropped

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Speaker 1: over half percent today to finish at eighty two hundred

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Speaker 1: and ninety five points. Sentiment was hit by moody Moody's

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Speaker 1: ratings agency downgrading the US government debt over the weekend.

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Speaker 1: Also a drop in China's industrial output during the past quarter.

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Speaker 1: Energy and mining stocks led the way lower on that

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Speaker 1: news out of China. Among the large caps, PHP, Fortescu,

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Speaker 1: Metals Group and to a lesser extent, Rio Fell Woodside

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Speaker 1: was also lower, while the Quarry Group went ex dividend

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Speaker 1: it dropped four percent. On the other side, Common Bank,

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Speaker 1: West Farmers, Chelstra and Transurban all did pretty well. Story

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Speaker 1: number two. In corporate news today, Coal Produced and New

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Speaker 1: Hope has cut its full year sales guidance, but says

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Speaker 1: the market is showing early sign of a rebound after

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Speaker 1: a prolonged slump in prices. Its share price dropped eight

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Speaker 1: percent today, Mineral Resources has appointed a packing industry executive

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Speaker 1: with no mining experience to be its new chairman. Malcolm Bundy,

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Speaker 1: who sits on the board of materials group Brickworks, will

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Speaker 1: be responsible for repairing the company's reputation following a string

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Speaker 1: of scandals surrounding billionaire founder Chris Ellison. Dom Ro's Pizza

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Speaker 1: fell three percent after announcing the chief of its Australia

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Speaker 1: and New Zealand business Kerry Hayman, will step down in

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Speaker 1: August now. Hayman is the sister of long term former

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Speaker 1: CEO Don May and main Farmer went to a trading

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Speaker 1: halt this morning ahead of a material announcement involving February

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Speaker 1: six hundred and seventy two million dollar takeover bid from

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Speaker 1: a US pharmaceutical giant cosst Straight. Number three Prime Minister

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Speaker 1: Anthony Albernezi has promised more tanks to Ukraine as part

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Speaker 1: of his meeting with that country's President, Vladimir Zelenski. It

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Speaker 1: happened on the sidelines of the inauguration of Pope Leo

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Speaker 1: the fourteenth at the Vatican. Zelenski called for more sanctions

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Speaker 1: on Russia by countries such as Australia. Mister Albanesi also

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Speaker 1: met with European President Ursula von Delayan, who raised the

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Speaker 1: prospect of closer defense agreements between the EU and Australia.

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Speaker 1: Albanesi also met new Canadian Prime Minister Mark Carney straight

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Speaker 1: Um before len Les has sold a half stake in

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Speaker 1: six UK urban regeneration projects for three hundred million dollars

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Speaker 1: and the buyer is the Crown Estate. That's the property

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Speaker 1: business of the royal family. It's part of len Liss's

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Speaker 1: efforts to divest itself as of much of its overseas operations.

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Speaker 1: This year, Lendle's has sold off two point eight billion

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Speaker 1: dollars of offshore exposure and then Leeds can sell another

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Speaker 1: twenty five percent of this business in three years time,

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Speaker 1: and it retains the option to participate in any of

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Speaker 1: the six projects, which cover up to twenty six thousand

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Speaker 1: residential units and nine hundred thousand square meters of commercial

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Speaker 1: space via its investment management business. Its share price closed

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Speaker 1: down a touch today and sorry number five. Russian President

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Speaker 1: Vladimir Putin believes he a strong hand ahead of a

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Speaker 1: phone call tomorrow morning with Donald Trump, as European leaders

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Speaker 1: to work to prevent the US president from rushing through

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Speaker 1: a deal. Mister Purtin is confident that his forces can

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Speaker 1: break through Ukraine's defenses by the end of the year

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Speaker 1: to take full control of four regions that he has

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Speaker 1: claimed for Russia. According to Bloomberg, if that's the case,

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Speaker 1: it's unlikely that the Russian president will offer any meaningful

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Speaker 1: concessions to Trump when the two leaders speak. The fear

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Speaker 1: among European officials is that Trump will try and force

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Speaker 1: through a settlement. Regardless, Trump has promised to brief Zelenski

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Speaker 1: and some of his NATO allies once he's finished speaking

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Speaker 1: with his Russian counterpart. That's it for the Outnon Report

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Speaker 1: for Monday, the nineteenth of May twenty twenty five. Make

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Speaker 1: sure you hit follow on the podcast. We will be

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Speaker 1: back tomorrow morning with a Tuesday edition of the Fast

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Speaker 1: five Business News by Fear and Greed. I'm Sean Elma.

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Speaker 1: I'm enjoy your read