1 00:00:03,560 --> 00:00:06,800 Speaker 1: Welcome to the Fearing Greed Business News Afternoon Report for Monday, 2 00:00:06,840 --> 00:00:09,479 Speaker 1: the sixteenth of June twenty twenty five. I'm suan Alma. 3 00:00:09,800 --> 00:00:12,319 Speaker 1: Every afternoon, We've got the five stories that happened today 4 00:00:12,360 --> 00:00:14,800 Speaker 1: that you need to know about. Story number one, quite 5 00:00:14,880 --> 00:00:17,920 Speaker 1: a big day of mergers and acquisitions activity. The Abu 6 00:00:18,000 --> 00:00:21,400 Speaker 1: Dhabi National Oil Company has made a nearly thirty billion 7 00:00:21,440 --> 00:00:24,640 Speaker 1: dollar cash takeover bid for Santos, pushing up the oil 8 00:00:24,680 --> 00:00:27,720 Speaker 1: and gas giant's share price by eleven percent. Private equity 9 00:00:27,760 --> 00:00:31,480 Speaker 1: group BGH Capital and two Queensland brothers, Luke and Carl 10 00:00:31,560 --> 00:00:34,760 Speaker 1: Trichet have made a four hundred and seventy one million 11 00:00:34,800 --> 00:00:37,479 Speaker 1: dollar bid for Tourism Holdings Limited, the struggling camp of 12 00:00:37,560 --> 00:00:40,680 Speaker 1: van rentals business, its share price jump more than fifty percent, 13 00:00:41,000 --> 00:00:44,320 Speaker 1: and Amat Furniture, which is owned by a quadrant private equity, 14 00:00:44,560 --> 00:00:47,520 Speaker 1: has brought Freedom Furniture to create a retailer with one 15 00:00:47,520 --> 00:00:50,760 Speaker 1: billion dollars in sales Storry number two. Apart from all 16 00:00:50,760 --> 00:00:53,000 Speaker 1: the takeover activity, there wasn't a lot going on in 17 00:00:53,040 --> 00:00:56,400 Speaker 1: the market today. The SMPASX two hundred closed up just 18 00:00:56,440 --> 00:00:59,720 Speaker 1: to touch one point, in fact, to finish at eight thousand, 19 00:00:59,800 --> 00:01:02,520 Speaker 1: five one hundred and forty eight points, having jumped on opening, 20 00:01:02,800 --> 00:01:06,200 Speaker 1: in part thanks to that Santostel. It was another great 21 00:01:06,280 --> 00:01:09,440 Speaker 1: day for the uranium stocks, with Deep Yellow, Paladin Energy, 22 00:01:09,440 --> 00:01:12,440 Speaker 1: and Boss Energy all jumping between ten and twenty percent. 23 00:01:12,840 --> 00:01:15,880 Speaker 1: The flip side was the Gold Company's Evolution Mining, Northern Star, 24 00:01:15,959 --> 00:01:19,440 Speaker 1: Amelius Resources in West Gold all lost at least five percent. 25 00:01:19,680 --> 00:01:21,560 Speaker 1: The price of the precious metal has come off over 26 00:01:21,600 --> 00:01:23,800 Speaker 1: the past twenty four hours or so. More broadly, the 27 00:01:23,880 --> 00:01:27,080 Speaker 1: energy sector was easily the best performer, while consumer stables 28 00:01:27,120 --> 00:01:29,319 Speaker 1: were worse, though there wasn't a lot of share price 29 00:01:29,400 --> 00:01:31,959 Speaker 1: movement really among the large caps. The banks were mixed, 30 00:01:31,959 --> 00:01:35,440 Speaker 1: The three big iron ore miners were higher, Tilstra was flat, 31 00:01:35,440 --> 00:01:38,640 Speaker 1: while the big retailers trended lower. Straight Number three a 32 00:01:38,680 --> 00:01:41,880 Speaker 1: little over a week out from Virgin Australia listing on 33 00:01:41,959 --> 00:01:45,399 Speaker 1: the AX, and some investors suggest that price might be 34 00:01:45,480 --> 00:01:48,400 Speaker 1: a little too high. The gist of the commentary is 35 00:01:48,440 --> 00:01:51,000 Speaker 1: at two dollars ninety his share the current owner's private 36 00:01:51,000 --> 00:01:54,760 Speaker 1: equity group Bane is taking advantage of the high trouble 37 00:01:54,840 --> 00:01:57,920 Speaker 1: demand around the place at the moment. I'm sure that's true. 38 00:01:57,960 --> 00:01:59,960 Speaker 1: Why wouldn't they but the question is whether that can 39 00:02:00,120 --> 00:02:03,800 Speaker 1: be sustained. That high travel demand less helpful for these 40 00:02:03,880 --> 00:02:06,280 Speaker 1: sellers At the moment is a recent spike and oil 41 00:02:06,320 --> 00:02:10,560 Speaker 1: prices and aviation fuel and over recent days Quantus's decision 42 00:02:10,600 --> 00:02:15,000 Speaker 1: to drop Jetstar Asia bring them planes back Home increases 43 00:02:15,040 --> 00:02:18,360 Speaker 1: competition in this market. Now Quantitas share prices up seventy 44 00:02:18,360 --> 00:02:21,040 Speaker 1: percent over the past year, and in terms of forecast 45 00:02:21,080 --> 00:02:25,040 Speaker 1: earnings it will try trade at a higher multiple than version. Still, 46 00:02:25,400 --> 00:02:28,239 Speaker 1: not everyone is on board with the Virgin Float straight 47 00:02:28,360 --> 00:02:32,160 Speaker 1: number four. The board of poker machine manufacturer Ainsworth Gaming 48 00:02:32,320 --> 00:02:36,120 Speaker 1: Technology says it had no need to disclose and Overseas 49 00:02:36,120 --> 00:02:39,840 Speaker 1: criminal probe into its chief executive to the ASX Ainsworth 50 00:02:39,880 --> 00:02:44,160 Speaker 1: Game Technology, founded by Pokey's King Len. Ainsworth, is facing 51 00:02:44,240 --> 00:02:48,000 Speaker 1: questions from shareholders over its failure to disclose that chief 52 00:02:48,040 --> 00:02:52,680 Speaker 1: executive Harold Newman was under investigation in Austria in relation 53 00:02:52,760 --> 00:02:57,799 Speaker 1: to corruption allegations. According to the AFR yesterday, Ainsworth said 54 00:02:58,040 --> 00:03:01,919 Speaker 1: it had known about investigations twenty nineteen, when Newman was 55 00:03:01,960 --> 00:03:04,960 Speaker 1: a non executive director of the company. It said the 56 00:03:04,960 --> 00:03:07,680 Speaker 1: board determined it did not need to inform the ax 57 00:03:07,720 --> 00:03:13,160 Speaker 1: about the matter because the investigations were insufficiently definitive and preliminary. Newman, 58 00:03:13,200 --> 00:03:16,240 Speaker 1: the chief executive of Ainsworth Gaining Technology since twenty twenty one, 59 00:03:16,520 --> 00:03:20,120 Speaker 1: has been under investigation for almost six years over a 60 00:03:20,240 --> 00:03:23,480 Speaker 1: range of allegations related to his time leading a family 61 00:03:23,520 --> 00:03:28,440 Speaker 1: owned gaming firm known as Novomatic. He denies any wrongdoing. Finally, 62 00:03:28,480 --> 00:03:31,600 Speaker 1: straying number five, there's been mixed economic news out of China, 63 00:03:31,760 --> 00:03:35,280 Speaker 1: the world's second largest economy, which is crucial to Australia's fortunes. 64 00:03:35,600 --> 00:03:38,920 Speaker 1: Consumption has jumped, but house prices are falling as the 65 00:03:39,040 --> 00:03:42,400 Speaker 1: growth in factory output is slowing. Retail sales grew last 66 00:03:42,400 --> 00:03:45,080 Speaker 1: month at their fastest paced since twenty twenty three, exceeding 67 00:03:45,080 --> 00:03:48,040 Speaker 1: all estimates. That was the good news. It helped US 68 00:03:48,040 --> 00:03:52,240 Speaker 1: set disappointing industrial output figures. They climbed six percent, but 69 00:03:52,280 --> 00:03:55,520 Speaker 1: they slowed from the previous month as tariffs injected trade 70 00:03:55,600 --> 00:03:59,800 Speaker 1: uncertainty and new home prices in China fell the most 71 00:04:00,160 --> 00:04:03,720 Speaker 1: seven months during May, demonstrating why senior government officials are 72 00:04:03,760 --> 00:04:06,840 Speaker 1: renewing pledges to revive the property market. That's it for 73 00:04:06,880 --> 00:04:09,440 Speaker 1: the Afternoon Report for Monday, the sixteenth of June twenty 74 00:04:09,440 --> 00:04:11,360 Speaker 1: twenty five. Make sure you hit follow on the podcast. 75 00:04:11,400 --> 00:04:13,600 Speaker 1: We will be back tomorrow morning with a Tuesday edition 76 00:04:13,640 --> 00:04:16,280 Speaker 1: of Fear and Greed Business News. I'm Suan Elma. Enjoy 77 00:04:16,320 --> 00:04:16,800 Speaker 1: your evening.