1 00:00:04,160 --> 00:00:07,080 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:07,120 --> 00:00:10,080 Speaker 1: for Thursday, the twelfth of March twenty twenty six. Oh 3 00:00:10,080 --> 00:00:12,680 Speaker 1: Michael Thompson, and every afternoon, we've got the five stories 4 00:00:12,720 --> 00:00:15,080 Speaker 1: that happened today that you need to know about. Let's 5 00:00:15,120 --> 00:00:17,640 Speaker 1: go with story number one. The S and p ASX 6 00:00:17,680 --> 00:00:21,239 Speaker 1: two hundred fell one point three percent today to eighty 7 00:00:21,360 --> 00:00:25,120 Speaker 1: six hundred and twenty nine points, wiping about forty billion 8 00:00:25,160 --> 00:00:29,800 Speaker 1: dollars from the market as oil prices surged after attax 9 00:00:29,840 --> 00:00:33,360 Speaker 1: on tankers in Iraqi waters. Also adding pressure to the 10 00:00:33,360 --> 00:00:36,960 Speaker 1: oil price was Oman clearing the vessels from a key 11 00:00:37,080 --> 00:00:40,720 Speaker 1: export terminal. Brent krude has now jumped nearly ten percent 12 00:00:40,760 --> 00:00:44,160 Speaker 1: a day to just above one hundred US dollars a barrel, 13 00:00:44,479 --> 00:00:47,320 Speaker 1: raising these fears that we've been talking about all week 14 00:00:47,360 --> 00:00:50,080 Speaker 1: now that the Middle East conflicts could trigger a broader 15 00:00:50,120 --> 00:00:55,240 Speaker 1: economic shock and disrupt global energy supplies. Locally, energy stocks 16 00:00:55,240 --> 00:00:59,200 Speaker 1: worthy main beneficiaries of this woodside rose two point one percent, 17 00:00:59,560 --> 00:01:03,360 Speaker 1: Karun energy gains nearly five percent, and poll was up 18 00:01:03,400 --> 00:01:06,240 Speaker 1: nearly three percent. The coal miners rallied as well, Yan 19 00:01:06,360 --> 00:01:10,120 Speaker 1: coal up ten and a half percent, white Haven coal 20 00:01:10,319 --> 00:01:13,720 Speaker 1: up more than six and a half. Elsewhere, though away 21 00:01:13,720 --> 00:01:16,240 Speaker 1: from the energy stocks, the market was weaker. Technology and 22 00:01:16,280 --> 00:01:19,600 Speaker 1: property stocks fell as rate expectations climbed. Or it to 23 00:01:19,640 --> 00:01:22,399 Speaker 1: that one a bit more detail In a moment, Zero 24 00:01:22,600 --> 00:01:26,400 Speaker 1: was down four percent wise, Tech Global was off two 25 00:01:26,480 --> 00:01:29,480 Speaker 1: and a half percent, while the banks and miners also slipped. 26 00:01:29,520 --> 00:01:32,920 Speaker 1: BHP was off nearly two percent, A and Z down 27 00:01:33,120 --> 00:01:36,039 Speaker 1: two and a half percent. Under story number two, the 28 00:01:36,200 --> 00:01:38,960 Speaker 1: Aussie dollar has climbed to a four year high near 29 00:01:39,480 --> 00:01:43,360 Speaker 1: seventy two US sense as markets increasingly expect the Reserve 30 00:01:43,480 --> 00:01:46,959 Speaker 1: Bank Board to raise interest rates when it meets Monday 31 00:01:46,959 --> 00:01:50,760 Speaker 1: and Tuesday of next week. All four major banks, Commonwealth Bank, 32 00:01:50,800 --> 00:01:54,520 Speaker 1: A and Z NAB Westpacker are all forecasting a rate 33 00:01:54,600 --> 00:01:58,920 Speaker 1: increase to four point one percent. Markets are pricing about 34 00:01:58,920 --> 00:02:01,440 Speaker 1: an eighty percent chair of a movie. It is looking 35 00:02:01,480 --> 00:02:05,640 Speaker 1: increasingly likely the Aussie dollar, though the currency has surged 36 00:02:05,680 --> 00:02:09,520 Speaker 1: as well against other major currencies. It has hit its 37 00:02:09,560 --> 00:02:13,080 Speaker 1: highest level against the Japanese yen since nineteen ninety, a 38 00:02:13,160 --> 00:02:16,680 Speaker 1: decade high against the New Zealand dollar. Economists say that 39 00:02:16,680 --> 00:02:18,600 Speaker 1: that spike that I was talking about before in global 40 00:02:18,639 --> 00:02:22,440 Speaker 1: oil prices is likely to push inflation higher here increasing 41 00:02:22,520 --> 00:02:25,680 Speaker 1: pressure on the reserve banks to Titan policy even further 42 00:02:25,800 --> 00:02:30,639 Speaker 1: as other central banks consider cutting rates. Story number three. 43 00:02:30,880 --> 00:02:34,400 Speaker 1: The Anti Semitism Royal Commission has been thrown into turmoil 44 00:02:34,560 --> 00:02:39,119 Speaker 1: after Special Advisor Dennis Richardson abruptly resigned. The former as 45 00:02:39,280 --> 00:02:42,320 Speaker 1: O chief said he was stepping down after concluding that 46 00:02:42,400 --> 00:02:45,760 Speaker 1: his role had become unnecessary that he was effectively being 47 00:02:45,800 --> 00:02:50,960 Speaker 1: paid as a highly paid researcher. Richardson revealed that he 48 00:02:51,080 --> 00:02:53,520 Speaker 1: was being paid about five and a half thousand dollars 49 00:02:53,600 --> 00:02:56,320 Speaker 1: a day and felt he was being overpaid for the 50 00:02:56,320 --> 00:02:59,080 Speaker 1: work he was doing. The resignation comes just weeks before 51 00:02:59,120 --> 00:03:02,480 Speaker 1: Commission of Virginia Bell is due to deliver an interim 52 00:03:02,520 --> 00:03:06,320 Speaker 1: report into the performance of intelligence and police agencies ahead 53 00:03:06,320 --> 00:03:11,360 Speaker 1: of the Bondai massacre. Story number four. Colin's Foods, which 54 00:03:11,400 --> 00:03:15,680 Speaker 1: owns KFC and Taco Bells across Australia, has acquired eight 55 00:03:15,800 --> 00:03:20,840 Speaker 1: KFC atlets in Bavaria as it accelerates its expansion into Germany. 56 00:03:21,400 --> 00:03:24,440 Speaker 1: It will take Collins's German network to about twenty five 57 00:03:24,560 --> 00:03:27,800 Speaker 1: stores and as plans to build up to ninety news 58 00:03:27,800 --> 00:03:30,920 Speaker 1: stores over the next four years. Colins also signed a 59 00:03:31,000 --> 00:03:34,720 Speaker 1: revised Corporate Franchise Agreement for the Netherlands with Young Brands, 60 00:03:34,720 --> 00:03:36,840 Speaker 1: meaning it will hold the rights to KFC in that 61 00:03:36,920 --> 00:03:40,520 Speaker 1: country until the end of twenty twenty nine. It currently 62 00:03:40,560 --> 00:03:44,280 Speaker 1: has sixty four KFCs in the Netherlands. There you go, 63 00:03:44,840 --> 00:03:48,400 Speaker 1: and finally, story number five. The Trump administration has launched 64 00:03:48,480 --> 00:03:52,720 Speaker 1: trade investigations into fifteen countries and the European Union as 65 00:03:52,720 --> 00:03:57,360 Speaker 1: it prepares a new round of tariffs. These investigations will 66 00:03:57,400 --> 00:04:01,560 Speaker 1: focus on what Washington describes as ex production capacity that 67 00:04:01,680 --> 00:04:04,880 Speaker 1: is contributing to large trade surpluses with the United States. 68 00:04:05,400 --> 00:04:08,960 Speaker 1: US Trade Representative Jameson Greer said that the investigation signal 69 00:04:09,000 --> 00:04:12,720 Speaker 1: that President Donald Trump's protectionist approach to trade will continue 70 00:04:13,000 --> 00:04:17,359 Speaker 1: despite the Supreme Court striking down earlier tariffs. Those are 71 00:04:17,400 --> 00:04:19,400 Speaker 1: the tariffs, of course, that were announced last year on 72 00:04:19,480 --> 00:04:23,559 Speaker 1: Liberation Day. Countries under review as part of this latest round. 73 00:04:24,240 --> 00:04:27,240 Speaker 1: It's a pretty long list, but it includes China, Japan, India, 74 00:04:27,279 --> 00:04:31,640 Speaker 1: South Korea, several Southeast Asian nations, as well as the EU, 75 00:04:31,680 --> 00:04:35,240 Speaker 1: as I mentioned before, and other major US allies in Europe. 76 00:04:35,400 --> 00:04:38,640 Speaker 1: That's it for the Afternoon Report for Thursday, the twelfth 77 00:04:38,680 --> 00:04:41,080 Speaker 1: of March. Make sure you're following the podcast, and please 78 00:04:41,120 --> 00:04:42,920 Speaker 1: head along to Fear and Greed dot com dot au 79 00:04:42,960 --> 00:04:45,960 Speaker 1: to sign up for our free daily newsletter. I'm Michael Thompson. 80 00:04:46,200 --> 00:04:46,920 Speaker 1: Joy your evening.