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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 sixteenth of June twenty twenty five. I'm

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Speaker 1: suan Alma. Every afternoon, We've got the five stories that

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Speaker 1: happened today that you need to know about. Story number one,

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Speaker 1: quite a big day for mergers and acquisitions activity. The

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Speaker 1: Abu Dhabi National Oil Company has made a nearly thirty

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Speaker 1: billion dollar cash takeover bid for Santos, pushing up the

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Speaker 1: oil and gas giants share price by eleven percent. Private

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Speaker 1: equity group BGH Capital and two Queensland brothers, Luke and

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Speaker 1: Kyl Trichet have made a four hundred and seventy one

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Speaker 1: million dollar bid for Tourism Holdings Limited that struggling camp

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Speaker 1: Avan rentals business its share price jump more than fifty percent,

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Speaker 1: and Amat Furniture, which is owned by a quadrant private equity,

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Speaker 1: has brought Freedom Furniture to create a retailer with one

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Speaker 1: billion dollars in sales story number two. Apart from all

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Speaker 1: the takeover activity, there wasn't a lot going on in

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Speaker 1: the market today. The SMPASX two hundred closed up just

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Speaker 1: to touch one point, in fact, to finish at eight

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Speaker 1: one thousand, five hundred and forty eight points, having jumped

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Speaker 1: on opening, in part thanks to that Santostel. It was

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Speaker 1: another great day for the uranium stocks, with Deep Yellow,

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Speaker 1: Paladin and Energy and Boss Energy all jumping between ten

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Speaker 1: and twenty percent. The flip side was the Gold Company's

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Speaker 1: Evolution Mining, Northern Star, Amelius Resources in West Gold all

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Speaker 1: lost at least five percent. The price of the precious

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Speaker 1: metal has come off over the past twenty four hours

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Speaker 1: or so. More broadly, the energy sector was easily the

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Speaker 1: best performer, while consumer stables were worse, though there wasn't

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Speaker 1: a lot of share price movement really among the large caps.

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Speaker 1: The banks were mixed, The three big iron ore miners

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Speaker 1: were higher, Tilstra was flat, while the big retailers trended lower.

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Speaker 1: Straight Number three a little over a week out from

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Speaker 1: Virgin Australia listing on the AX, and some investors suggest

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Speaker 1: that price might bear a little too high. The gist

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Speaker 1: of the commentary is at two dollars ninety a share,

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Speaker 1: the current owner's private equity group Bane is taking advantage

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Speaker 1: of the high trouble demand around the place at the moment.

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Speaker 1: I'm sure that's true. Why wouldn't they but the question

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Speaker 1: is were that that can be sustained? That high travel

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Speaker 1: demand less helpful for these sellers at the moment is

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Speaker 1: a recent spike and oil prices and aviation fuel and

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Speaker 1: over recent days Quantus's decision to drop Jetstar Asia bring

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Speaker 1: the planes back Home increases competition in this market. Now

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Speaker 1: Quantas share prices up seventy percent over the past year

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Speaker 1: and in terms of forecast earnings, it will try trade

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Speaker 1: at a higher multiple than version. Still, not everyone is

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Speaker 1: on board with the Virgin Float straight number four. The

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Speaker 1: board of poker machine manufacturer Ainsworth Gaming Technology says it

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Speaker 1: had no need to disclose and Overseas criminal probe into

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Speaker 1: its chief executive to the asx Ainsworth Game Technology, founded

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Speaker 1: by Pokey's King Len. Ainsworth, is facing questions from shareholders

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Speaker 1: over its failure to disclose that chief executive Harold Newman

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Speaker 1: was under investigation in Austria in relation to corruption allegations.

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Speaker 1: According to the AFR yesterday, Ainsworth said it had known

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Speaker 1: about investigations since twenty nineteen, when Newman was a non

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Speaker 1: executive director of the company. It said the board determined

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Speaker 1: it did not need to inform the ax about the

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Speaker 1: matter because the investigations were insufficiently definitive and preliminary. Newman,

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Speaker 1: the chief executive of Ainsworth Game Technology since twenty twenty one,

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Speaker 1: has been under investigation for almost six years over a

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Speaker 1: range of allegations related to his time leading a family

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Speaker 1: owned gaming firm known as Novomatic. He denies any wrongdoing. Finally,

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Speaker 1: storing number five, there's been mixed economic news out of China,

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Speaker 1: the world's second largest economy, which is crucial to Australia's fortunes.

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Speaker 1: Consumption has jumped, but house prices are falling as the

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Speaker 1: growth in factory output is slowing. Retail sales grew last

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Speaker 1: month at their fastest paced since twenty twenty three, exceeding

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Speaker 1: all estimates. That was the good news. It helped us

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Speaker 1: set disappointing industrial output figures. They climbed six percent, but

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Speaker 1: they slowed from the previous month as Tariff's injected trade

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Speaker 1: uncertainty and new home prices in China fell the most

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Speaker 1: in seven months during May, demonstrating why senior government officials

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Speaker 1: are renewing pledges to revive the property market. As it

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Speaker 1: for the Afternoon Report for Monday, the sixteenth of June

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Speaker 1: twenty twenty five, make sure you hit follow on the podcast.

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Speaker 1: We will be back tomorrow morning with a Tuesday edition

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Speaker 1: of the past five business news by Fear and Greek.

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Speaker 1: I'm Sean Elmer, I'm joing, Reevening,