1 00:00:06,200 --> 00:00:08,960 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:08,960 --> 00:00:11,840 Speaker 1: for Tuesday, the eleventh of March twenty twenty five. I'm 3 00:00:11,840 --> 00:00:14,960 Speaker 1: sure in Aylma. Every afternoon. We've got the five stories 4 00:00:14,960 --> 00:00:16,919 Speaker 1: that happened today that you need to know about. Story 5 00:00:17,040 --> 00:00:20,079 Speaker 1: number one, high end housing auctions across the country show 6 00:00:20,280 --> 00:00:23,919 Speaker 1: strong growth in prices, at least they did last month, 7 00:00:23,960 --> 00:00:26,000 Speaker 1: which can be an indicator of a pickup in the 8 00:00:26,040 --> 00:00:30,160 Speaker 1: overall market. It's the bell Weather segment that top twenty 9 00:00:30,200 --> 00:00:33,600 Speaker 1: five percent of homes. They raise zero point two percent 10 00:00:33,640 --> 00:00:37,480 Speaker 1: in February, having fallen zero point three percent in January. 11 00:00:37,640 --> 00:00:40,680 Speaker 1: Now the lower quartle outperformed the top quartile, so the 12 00:00:40,720 --> 00:00:42,920 Speaker 1: lowest twenty five percent was up zero point four percent. 13 00:00:43,400 --> 00:00:47,080 Speaker 1: But the upper end has seen the sharpest turnaround. According 14 00:00:47,080 --> 00:00:50,320 Speaker 1: to core Logic. That's the end most sensitive to interest 15 00:00:50,360 --> 00:00:53,080 Speaker 1: rates and tends to lead the market. Sydney and Melbourne 16 00:00:53,120 --> 00:00:55,880 Speaker 1: houses and units have most to gain from a reduction 17 00:00:56,000 --> 00:00:59,320 Speaker 1: in rates, according to core Logic. Story number two. Business 18 00:00:59,320 --> 00:01:03,760 Speaker 1: confidence is deteriorating. According to the National Australia Bank Measure. 19 00:01:04,120 --> 00:01:06,600 Speaker 1: It turned even more negative in February and is now 20 00:01:06,680 --> 00:01:10,200 Speaker 1: worse than neutral. The NAB surveys often looked at in 21 00:01:10,319 --> 00:01:13,120 Speaker 1: terms of price pressures, and there's good news on that front. 22 00:01:13,120 --> 00:01:16,279 Speaker 1: Final product prices arising just half a percent per quarter. 23 00:01:16,680 --> 00:01:19,520 Speaker 1: That augu is well for future inflation readings. On the 24 00:01:19,560 --> 00:01:23,040 Speaker 1: consumer front, things are looking much better. In fact, sentiment 25 00:01:23,200 --> 00:01:26,000 Speaker 1: is at a three year high. Story number three. The 26 00:01:26,040 --> 00:01:29,240 Speaker 1: local share market closed down nearly one percent today to 27 00:01:29,959 --> 00:01:32,760 Speaker 1: eight hundred and ninety points. Tech stocks were hit hardest 28 00:01:32,800 --> 00:01:36,559 Speaker 1: following a rough night on Wall Street. Among the large caps, 29 00:01:36,600 --> 00:01:38,839 Speaker 1: the big banks were mixed, as were the big miners. 30 00:01:38,880 --> 00:01:42,080 Speaker 1: The big SIP markets outperformed. Quantus went ex dividend, but 31 00:01:42,120 --> 00:01:44,600 Speaker 1: fell much more than the dividend payout to close down 32 00:01:44,720 --> 00:01:47,560 Speaker 1: eight percent. Story number four. There was a bit of 33 00:01:47,680 --> 00:01:50,760 Speaker 1: corporate news around today. GUZMANI Gomez fell two and a 34 00:01:50,800 --> 00:01:54,880 Speaker 1: half percent after it released fifteen point four million shares 35 00:01:54,920 --> 00:01:59,279 Speaker 1: from escrow together worth round five hundred and fifteen million dollars. 36 00:01:59,280 --> 00:02:01,640 Speaker 1: That means a bunch of people can now sell those 37 00:02:01,680 --> 00:02:05,000 Speaker 1: shares and potentially get very rich. Sun Corpus told investors 38 00:02:05,040 --> 00:02:09,120 Speaker 1: the majority of insurance claims lodged after ex tropical cyclone 39 00:02:09,160 --> 00:02:13,080 Speaker 1: Alfred fell within the government's cyclone reinsurance pool coverage period, 40 00:02:13,320 --> 00:02:16,679 Speaker 1: though added it is still receiving claims. Nickel Industry's share 41 00:02:16,680 --> 00:02:19,639 Speaker 1: price doubled eighteen percent after a large investor looks to 42 00:02:19,680 --> 00:02:23,840 Speaker 1: have sold out, and Star Entertainment has confirmed its negotiating 43 00:02:23,840 --> 00:02:27,480 Speaker 1: with property funds management Giant Salter Brothers for a seven 44 00:02:27,560 --> 00:02:31,640 Speaker 1: hundred and fifty million dollar refinancing package that will secure 45 00:02:31,680 --> 00:02:36,239 Speaker 1: the ailing casino group's long term financial future. And story 46 00:02:36,400 --> 00:02:39,120 Speaker 1: number five, an anchored tanker carrying jet fuel for the 47 00:02:39,200 --> 00:02:42,840 Speaker 1: US military was struck by a container ship in the 48 00:02:42,840 --> 00:02:46,720 Speaker 1: North Sea, triggering explosions and a rescue operation for the 49 00:02:46,840 --> 00:02:50,040 Speaker 1: thirty seven mariners on board the vessels. The collision sparked 50 00:02:50,120 --> 00:02:53,880 Speaker 1: large fires on both ships. The tanker, the Stannard Immaculate, 51 00:02:54,280 --> 00:02:57,640 Speaker 1: was carrying eighteen thousand tons of jet A one, a 52 00:02:57,760 --> 00:03:00,200 Speaker 1: form of aviation fuel, and suffered a ruptured to a 53 00:03:00,240 --> 00:03:04,280 Speaker 1: cargo tank. The UK's Maritime and Coastcard Agency said it 54 00:03:04,320 --> 00:03:08,080 Speaker 1: had sent rescue helicopters, lifeboats and firefighting vessels to the 55 00:03:08,120 --> 00:03:12,840 Speaker 1: scene and it was assessing the likely counterpollution response required. 56 00:03:13,160 --> 00:03:15,960 Speaker 1: It's not immediately clear what caused the incident. That's it 57 00:03:16,040 --> 00:03:18,440 Speaker 1: for the afternoon report for Tuesday, the eleventh of March 58 00:03:18,480 --> 00:03:20,799 Speaker 1: twenty twenty five. Make sure you hit follow on the podcast. 59 00:03:21,120 --> 00:03:23,280 Speaker 1: We will be back tomorrow morning with the Wednesday edition 60 00:03:23,320 --> 00:03:25,799 Speaker 1: of the Fear and Greed Business News. I'm Sean Elmer 61 00:03:26,160 --> 00:03:27,040 Speaker 1: and Joey Readney.