1 00:00:03,720 --> 00:00:06,520 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,600 --> 00:00:09,719 Speaker 1: for Thursday, the twenty sixth of September twenty twenty four. 3 00:00:09,760 --> 00:00:12,719 Speaker 1: I'm Sean Elmer. Every afternoon, we've got the five stories 4 00:00:12,760 --> 00:00:14,680 Speaker 1: that happened today that you need to know about. Story 5 00:00:14,760 --> 00:00:18,240 Speaker 1: number one, the SMPASEX two hundred rows at one percent 6 00:00:18,280 --> 00:00:21,640 Speaker 1: today to eighty two hundred and four points. They'd hired 7 00:00:21,640 --> 00:00:24,639 Speaker 1: by news that Beijing will implement steps to boost the 8 00:00:24,760 --> 00:00:28,040 Speaker 1: Chinese economy. That helped the big miners, with force Ugh 9 00:00:28,120 --> 00:00:30,880 Speaker 1: Metals Group up three percent and BHP and Rare Tinto 10 00:00:30,960 --> 00:00:34,680 Speaker 1: rising around two percent, as iron ore futures jumped towards 11 00:00:34,800 --> 00:00:38,480 Speaker 1: ninety seven US dollars a ton. Consumer discretionary stocks also 12 00:00:38,560 --> 00:00:41,120 Speaker 1: did well, with Wesfarmers one and a half cent higher, 13 00:00:41,280 --> 00:00:44,639 Speaker 1: while Aristocrat Leisure and JB Hi Fi both were up 14 00:00:44,720 --> 00:00:48,320 Speaker 1: three percent a fall in oil prices. Hert Woodside and 15 00:00:48,360 --> 00:00:51,239 Speaker 1: santas And both were among the worst performers of the 16 00:00:51,280 --> 00:00:54,440 Speaker 1: ASEX two hundred. The big banks were mixed, while Aria 17 00:00:54,640 --> 00:00:59,040 Speaker 1: and weisteach global surged. Story number two that story about 18 00:00:59,080 --> 00:01:03,280 Speaker 1: Beijing It's stepped in to forcefully resurrect the world's second 19 00:01:03,360 --> 00:01:07,480 Speaker 1: largest economy, with President Chijing Ping and China's top leaders 20 00:01:07,520 --> 00:01:12,160 Speaker 1: calling for sufficient fiscal spending measures to stabilize the beleagued 21 00:01:12,200 --> 00:01:16,319 Speaker 1: property sector and forceful weight cuts. The twenty four man 22 00:01:16,400 --> 00:01:20,160 Speaker 1: Pollop Bureau promised to complete the country's annual economic goals 23 00:01:20,160 --> 00:01:23,160 Speaker 1: that's five percent growth this year, and China will also 24 00:01:23,240 --> 00:01:26,600 Speaker 1: push for the real estate market to stop declining in 25 00:01:26,680 --> 00:01:28,920 Speaker 1: what appears to be the most forceful val yet to 26 00:01:28,920 --> 00:01:31,720 Speaker 1: stem the free fall in the property market and try 27 00:01:31,760 --> 00:01:35,400 Speaker 1: to stabilize prices. The news helped all commodity prices, or 28 00:01:35,400 --> 00:01:38,080 Speaker 1: at least most commodity prices. That also helped the AUSSI dollar, 29 00:01:38,400 --> 00:01:41,319 Speaker 1: which is now training just under sixty nine usns. Global 30 00:01:41,360 --> 00:01:45,040 Speaker 1: equity markets also rallied on the news, with the Shanghai 31 00:01:45,080 --> 00:01:48,360 Speaker 1: Index jumping more than three percent. Story number three plenty 32 00:01:48,360 --> 00:01:51,600 Speaker 1: of corporate news around the Place today. Competition watchdog at 33 00:01:51,600 --> 00:01:54,960 Speaker 1: the Australian Competition and Consumer Commission has given clearance to 34 00:01:55,120 --> 00:01:58,560 Speaker 1: lend Lisa's one point three billion dollar sale of twelve 35 00:01:58,680 --> 00:02:02,240 Speaker 1: residential master plan to community projects to Stockland and a 36 00:02:02,320 --> 00:02:05,520 Speaker 1: tie owned group. Aria Group has struck a deal to 37 00:02:05,600 --> 00:02:09,160 Speaker 1: acquire a nineteen point nine percent interest in digital non 38 00:02:09,200 --> 00:02:13,119 Speaker 1: bank lender Athena Home for sixty two million dollars. Platinum 39 00:02:13,120 --> 00:02:16,640 Speaker 1: Asset Management rejected a takeover offer from Regal Partners, saying 40 00:02:16,680 --> 00:02:20,080 Speaker 1: the deal undervalues Platinum. The implied bid price of a 41 00:02:20,120 --> 00:02:23,160 Speaker 1: dollars ten a share was about a ten percent premium 42 00:02:23,160 --> 00:02:26,960 Speaker 1: to Platinum's previous closing price. However, the statement today from 43 00:02:27,000 --> 00:02:31,120 Speaker 1: the Platinum board said it is still open to considering bids. 44 00:02:31,240 --> 00:02:33,560 Speaker 1: I reckon There'll be more on that one. Lind Energy, 45 00:02:33,560 --> 00:02:37,320 Speaker 1: the country's fourth largest electricity and gas retailer in Japan's 46 00:02:37,440 --> 00:02:41,320 Speaker 1: largest power generation company, JIRA, have been awarded a license 47 00:02:41,360 --> 00:02:44,079 Speaker 1: to develop an offshore wind project that could power al 48 00:02:44,120 --> 00:02:47,639 Speaker 1: Coha's Portland aluminium smelter. And not quite in the list 49 00:02:47,680 --> 00:02:50,400 Speaker 1: of space but interesting all the same. Gold Coast airport 50 00:02:50,400 --> 00:02:55,960 Speaker 1: owner Queensland Airports has been bought by private equity groups Colberg, Cravis, Roberts, 51 00:02:56,040 --> 00:02:59,760 Speaker 1: KKR and Skip Capital for about three billion dollars. Ozzie 52 00:02:59,760 --> 00:03:02,560 Speaker 1: Suv was considered favorite by the business, but the US 53 00:03:02,600 --> 00:03:05,160 Speaker 1: based groups won out. A story at number four, the 54 00:03:05,160 --> 00:03:10,920 Speaker 1: country's largest brickmaker, aptly named Brickworks, has announced its first 55 00:03:11,120 --> 00:03:14,800 Speaker 1: loss in decades after writing down its property portfolio and 56 00:03:14,919 --> 00:03:18,519 Speaker 1: building products business. The good news is that underlying profit 57 00:03:18,639 --> 00:03:22,560 Speaker 1: hit expectations and the dividend paid out was actually higher. Still, 58 00:03:22,600 --> 00:03:24,480 Speaker 1: Brickworks made a full year loss of one hundred and 59 00:03:24,520 --> 00:03:27,040 Speaker 1: nineteen million dollars, compared to a three hundred and ninety 60 00:03:27,080 --> 00:03:30,440 Speaker 1: five million dollar profit the previous year. Brickworks also has 61 00:03:30,480 --> 00:03:34,280 Speaker 1: investments in other companies, including Washington Hate, Soul Pattinson, the 62 00:03:34,320 --> 00:03:37,520 Speaker 1: Core brick business in Australia and North America. Up earnings, 63 00:03:37,880 --> 00:03:41,320 Speaker 1: but chief executive Mark Eleanor said the housing market isn't 64 00:03:41,720 --> 00:03:45,400 Speaker 1: likely to improve significantly over the next twelve months. Certainly, 65 00:03:45,400 --> 00:03:49,080 Speaker 1: investors like the news. Brickworks share price jumped seven percent 66 00:03:49,120 --> 00:03:51,720 Speaker 1: today and story at number five. The US and France 67 00:03:51,760 --> 00:03:54,680 Speaker 1: have led international calls for a twenty one day cease 68 00:03:54,720 --> 00:03:59,200 Speaker 1: fire between Israel and the Lebanese militant group HESBLA. Hours 69 00:03:59,320 --> 00:04:02,120 Speaker 1: after in his Rae daily military chief told troops to 70 00:04:02,160 --> 00:04:05,720 Speaker 1: prepare for a potential ground offensive in Lebanon. The initiative, 71 00:04:05,880 --> 00:04:09,960 Speaker 1: backed by the G seven EU three Arab nations in Australia, 72 00:04:10,160 --> 00:04:13,000 Speaker 1: called for a swift endorsement of the truce and a 73 00:04:13,000 --> 00:04:15,680 Speaker 1: statement issued on the sidelines of the UN General Assembly 74 00:04:15,720 --> 00:04:19,040 Speaker 1: in New York. According to the Financial Times, one senior 75 00:04:19,120 --> 00:04:23,320 Speaker 1: US administration officials today, temporary ceasefire could shake things up 76 00:04:23,600 --> 00:04:26,080 Speaker 1: and create space for a longer term resolution to the 77 00:04:26,080 --> 00:04:30,080 Speaker 1: conflict between Israel and Hesbler, while helping avert the threat 78 00:04:30,160 --> 00:04:33,520 Speaker 1: of a wider regional war. The Biden and administration described 79 00:04:33,520 --> 00:04:37,320 Speaker 1: the initiative as a significant breakthrough. That's it the Afternoon 80 00:04:37,360 --> 00:04:40,400 Speaker 1: Report for Thursday, the twenty sixth of September twenty twenty four. 81 00:04:40,480 --> 00:04:42,839 Speaker 1: Michael Thompson and I will be back tomorrow morning with 82 00:04:43,040 --> 00:04:45,520 Speaker 1: the Friday edition off fear and green business news. I'm 83 00:04:45,560 --> 00:04:47,320 Speaker 1: Sean Elmer. Enjoy your evening.