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Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report

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Speaker 1: for Tuesday, the first of July twenty twenty five. Are

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Speaker 1: Michael Thompson. Every afternoon, We've got the five stories that

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Speaker 1: happened today that you need to know about. Let's get going.

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Speaker 1: Story number one. There's Day one of the new financial year.

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Speaker 1: Didn't really start with a bang, more of a whimper,

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Speaker 1: the s and PA s X two hundred, finishing down

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Speaker 1: just one point two points, that is, zero point zero

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Speaker 1: one percent to eighty five hundred and forty one points,

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Speaker 1: so very very flat. That followed new record highs on

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Speaker 1: Wall Street. More on that in a sec. But the

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Speaker 1: tech stocks followed the Nasdaq's lead, with zero up one

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Speaker 1: point two percent, Life three sixty climbing four point four percent.

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Speaker 1: Good day for the retailers, Endeavor, Harvey, Norman, Woollies all

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Speaker 1: performing well. Not so good though, for the Commonwealth Bank

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Speaker 1: that fell back by one point two percent, even as

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Speaker 1: the other big banks did better. Under story number two,

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Speaker 1: and as I mentioned, plenty going on in global markets,

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Speaker 1: particular equities also currencies, though Wall Street's broad based SMP

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Speaker 1: five hundred and the tech heavy Nasdaq both set closing

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Speaker 1: highs overnight. Equity investors at least are warming to the

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Speaker 1: idea of an extension of tax cuts under the Big

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Speaker 1: Beautiful Bill, that's the three point three trillion US dollar

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Speaker 1: tax cut and spending bill. But they're also getting a

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Speaker 1: bit of confidence from calmer geopolitical tensions and the likelihood

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Speaker 1: of interest rate cuts later in the year. Bond market

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Speaker 1: traders are less impressed. The US dollar hit a near

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Speaker 1: four year low against the euro a mid worries over

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Speaker 1: rising US government deficit and uncertainty surrounding trade deals with

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Speaker 1: major countries. The Aussie dollar is trading at almost sixty

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Speaker 1: six US sentse Story number three. There have been management

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Speaker 1: shuffles of Plenty. Co Star says it intends to return

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Speaker 1: former Domain chief executive Jason Pellegrino to the real estate

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Speaker 1: listings platform that he ran until last year, and it's

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Speaker 1: considering a major rebrand of the company if it's three

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Speaker 1: billion dollar bid to buy the business and delist it

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Speaker 1: from the share market is successful. Also changes at Borrel,

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Speaker 1: where chief executive Vic Bansel will step down from the

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Speaker 1: building materials giant next year, as Willie's as well Worth

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Speaker 1: mentioning chief executive Amanda Bardwell is changing key management as

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Speaker 1: she pushes to clawback market share from art rival colds

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Speaker 1: plenty going on in that space. Story number four in

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Speaker 1: corporate news, Insignia Financial jumped after CC Capital said it

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Speaker 1: would continue to quote actively work towards making a binding

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Speaker 1: bid for the company and would finalize approvals in the

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Speaker 1: next two weeks. Bio company Tetratherics, we mentioned that one yesterday.

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Speaker 1: That rose another four percent following its strong market debut yesterday.

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Speaker 1: That's a company that develops treatments for tissue and bone repair.

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Speaker 1: And speaking of biotech companies, Miso Blast shares jumped after

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Speaker 1: the Australian company announced an alignment with the US Food

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Speaker 1: and Drug Administration on items required for filing a license

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Speaker 1: application for its heart failure treatment. It was in fact

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Speaker 1: the best performer on the ASX two hundred today, jumping

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Speaker 1: eleven point two percent. And finally, story number five Israeli

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Speaker 1: Prime Minister Benjamin Netanya, who is expected to meet with

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Speaker 1: President Donald Trump at the White House on July seven,

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Speaker 1: as the US administration urges an end to the war

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Speaker 1: in Gaza and attempts to secure the release of the

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Speaker 1: remaining hostages held by Hamas Donald Trump has praised Netanyahu

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Speaker 1: for his stewardship of Israel's twelve day war against Iran

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Speaker 1: and criticized legal proceedings against the Prime minister as a

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Speaker 1: quote political witch hunt. According to Bloomberg, that's it for

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Speaker 1: the Afternoon Report for Tuesday, the first of July twenty

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

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Speaker 1: and we'll be back tomorrow morning with the Wednesday edition

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Speaker 1: of the Fast five Business News by Fear and Greed.

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Speaker 1: I'm Michael Thompson. Enjoy your EAD