1
00:00:03,520 --> 00:00:06,000
Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report

2
00:00:06,040 --> 00:00:09,280
Speaker 1: for Tuesday, the third of February twenty twenty six. I'm sure, alma,

3
00:00:09,400 --> 00:00:11,600
Speaker 1: every afternoon, we've got the five stories that happened today

4
00:00:11,600 --> 00:00:13,480
Speaker 1: that you need to know about. Story number one, Reserve

5
00:00:13,520 --> 00:00:16,599
Speaker 1: Bank lifted the official cash rate by zero point twenty

6
00:00:16,640 --> 00:00:20,120
Speaker 1: five percentage points this afternoon, sending the Aussie dollar back

7
00:00:20,160 --> 00:00:23,680
Speaker 1: above seventy US cents but putting downward pressure on equity markets.

8
00:00:23,720 --> 00:00:26,560
Speaker 1: The central Bank cited higher than expected inflation in the

9
00:00:26,560 --> 00:00:29,520
Speaker 1: past six months as the reason for the rate rise.

10
00:00:29,560 --> 00:00:32,440
Speaker 1: By the closed the SMPA six two hundred had regained

11
00:00:32,479 --> 00:00:34,879
Speaker 1: most of its mojo. It finished up zero point nine

12
00:00:34,920 --> 00:00:38,040
Speaker 1: percent to eight eight hundred and fifty seven points. Tech

13
00:00:38,120 --> 00:00:40,559
Speaker 1: talks led the way, buoyed by last night's training on

14
00:00:40,600 --> 00:00:43,720
Speaker 1: Wall Street. The miners also did well after a rebound

15
00:00:43,760 --> 00:00:46,360
Speaker 1: in the price of gold and silver, and rare earths.

16
00:00:46,400 --> 00:00:50,639
Speaker 1: Somewhat conversely or perversely, whichever one you want. Interest rate

17
00:00:50,760 --> 00:00:55,400
Speaker 1: sensitive sectors, consumer discretionary, and real estate also outperformed. Given

18
00:00:55,440 --> 00:00:58,080
Speaker 1: wraiths for rising that's something of a surprise. Among the

19
00:00:58,160 --> 00:01:02,080
Speaker 1: large caps, the best performers include did It More, Quarry, Goodman, Rio,

20
00:01:02,240 --> 00:01:06,720
Speaker 1: Komwealth Bank and CSL Story number two. The Federal Nationals

21
00:01:06,760 --> 00:01:10,120
Speaker 1: took their seats on the cross benches today as Parliament

22
00:01:10,160 --> 00:01:13,600
Speaker 1: resumed with the coalition party still at odds or the

23
00:01:13,640 --> 00:01:17,200
Speaker 1: coalition parties still at odds over whether to reunite. The

24
00:01:17,319 --> 00:01:20,560
Speaker 1: House of Reps today had a very full cross bench,

25
00:01:20,640 --> 00:01:23,839
Speaker 1: with the Nats, the turls and other independents all crowded together.

26
00:01:24,240 --> 00:01:27,280
Speaker 1: Question time was dominated by the interest rate decision and

27
00:01:27,400 --> 00:01:31,120
Speaker 1: Labour's management of the economy. Story number three. Quantus and

28
00:01:31,240 --> 00:01:35,120
Speaker 1: Japan Airlines have agreed to transition jet Star Japan to

29
00:01:35,200 --> 00:01:38,280
Speaker 1: a new Japanese led ownership structure, opening the way for

30
00:01:38,360 --> 00:01:41,360
Speaker 1: Quantas to exit its minority stake. Subject to a final

31
00:01:41,400 --> 00:01:45,520
Speaker 1: agreement and regulatory approvals, Quantus will divest its thirty three

32
00:01:45,560 --> 00:01:48,920
Speaker 1: point three percent holding in jet Star Japan by the

33
00:01:48,920 --> 00:01:51,960
Speaker 1: middle of next year. Quantas said the transactional position jet

34
00:01:51,960 --> 00:01:54,720
Speaker 1: Star Japan for its next phase of growth in the

35
00:01:54,760 --> 00:01:58,400
Speaker 1: local market our e the Japanese market while allowing Quantis

36
00:01:58,840 --> 00:02:02,240
Speaker 1: to focus on investment in its main brand. Quantus and

37
00:02:02,360 --> 00:02:07,160
Speaker 1: Jetstar both domestically and internationally. Story number four in Corporate News,

38
00:02:07,360 --> 00:02:12,760
Speaker 1: Neuron Pharmaceuticals fell sharply today after its licensee Akkadia Pharmaceuticals

39
00:02:12,760 --> 00:02:16,560
Speaker 1: received what's known as a negative trend vote from European

40
00:02:16,639 --> 00:02:21,640
Speaker 1: regulators on its marketing authorization application to treat rett syndrome.

41
00:02:22,600 --> 00:02:25,799
Speaker 1: NRW Holdings jumped after winning three new civil contracts worth

42
00:02:25,800 --> 00:02:28,320
Speaker 1: a combined two hundred and seventy million dollars, strengthening its

43
00:02:28,360 --> 00:02:32,440
Speaker 1: pipeline in Western Australia in the Pilbro and Telix Pharmaceuticals

44
00:02:32,560 --> 00:02:36,320
Speaker 1: was lower after chairwoman Tiffany Olson resigned just eight months

45
00:02:36,320 --> 00:02:38,560
Speaker 1: into the role. Oh there was also Credit Corps At

46
00:02:38,560 --> 00:02:40,800
Speaker 1: share price tumbled after the group said it was on

47
00:02:40,880 --> 00:02:43,840
Speaker 1: track to deliver full un net profit growth somewhere between

48
00:02:43,840 --> 00:02:46,280
Speaker 1: six and seventeen percent, which is quite a range. That's

49
00:02:46,320 --> 00:02:49,760
Speaker 1: after posting first half profit about in line with last year.

50
00:02:50,160 --> 00:02:53,320
Speaker 1: And story number five. Bill and Hillary Clinton have agreed

51
00:02:53,320 --> 00:02:57,520
Speaker 1: to testify in the House Oversight Committee's investigation into convicted

52
00:02:57,680 --> 00:03:02,280
Speaker 1: sex offender Jeffrey Epstein, to the demands of the panel's

53
00:03:02,280 --> 00:03:05,480
Speaker 1: Republican chair days before the House was set to vote

54
00:03:05,480 --> 00:03:09,040
Speaker 1: to hold the couple in criminal contempt of Congress four months.

55
00:03:09,080 --> 00:03:11,800
Speaker 1: The Clintons were adamant that they would not comply with

56
00:03:11,800 --> 00:03:16,320
Speaker 1: subpoenas that they described as invalid and legally unenforceable. They

57
00:03:16,360 --> 00:03:18,359
Speaker 1: accused the head of the committee of being part of

58
00:03:18,400 --> 00:03:21,480
Speaker 1: a plot to target them as US President Donald Trump's

59
00:03:21,520 --> 00:03:24,320
Speaker 1: political adversaries, and promised to fight him on the issue

60
00:03:24,400 --> 00:03:26,600
Speaker 1: for as long as it took. But after some Democrats

61
00:03:26,639 --> 00:03:29,079
Speaker 1: on the panel joined Republicans in a vote to recommend

62
00:03:29,160 --> 00:03:32,400
Speaker 1: charging them with criminal contempt, an extraordinary first step in

63
00:03:32,480 --> 00:03:36,360
Speaker 1: referring them to the Department of Justice for prosecution, the

64
00:03:36,480 --> 00:03:39,400
Speaker 1: Clintons effectively waved the white flag at Greed to you

65
00:03:39,440 --> 00:03:42,120
Speaker 1: fully comply with the demands. That's all. According to The

66
00:03:42,160 --> 00:03:44,400
Speaker 1: New York Times, that'll be an interesting one to watch

67
00:03:44,680 --> 00:03:48,360
Speaker 1: exactly what Bill Clinton knew about Jeffrey Epstein. That's It's

68
00:03:48,400 --> 00:03:50,960
Speaker 1: the Afternoon Report for Tuesday, the third of February twenty

69
00:03:50,960 --> 00:03:53,360
Speaker 1: twenty six. Make sure you're following the podcast and head

70
00:03:53,360 --> 00:03:54,920
Speaker 1: along to Fear and Greed dot com Today you to

71
00:03:54,920 --> 00:03:58,120
Speaker 1: sign up for our free daily newsletter. I'm Sean Elmer.

72
00:03:58,640 --> 00:03:59,400
Speaker 1: M Joey Evening