1
00:00:04,200 --> 00:00:06,920
Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report

2
00:00:06,960 --> 00:00:09,400
Speaker 1: for Monday, the eighth of July twenty twenty four. I'm

3
00:00:09,400 --> 00:00:12,200
Speaker 1: Sean Almer. Every afternoon, we've got the five stories that

4
00:00:12,280 --> 00:00:14,400
Speaker 1: happened today that you need to know about. Stratum one.

5
00:00:14,440 --> 00:00:17,600
Speaker 1: The SMPASX two hundred closed down a zero point eight

6
00:00:17,600 --> 00:00:20,599
Speaker 1: percent today to seven seven hundred and sixty three points,

7
00:00:20,840 --> 00:00:22,880
Speaker 1: with a drop in nine all futures hitting The big

8
00:00:22,920 --> 00:00:26,160
Speaker 1: three miners, BHP, REO and four s Q Metals Group

9
00:00:26,200 --> 00:00:29,760
Speaker 1: all dropped more than two percent. Energy stocks also underperformed,

10
00:00:29,800 --> 00:00:33,400
Speaker 1: as did healthcare and real estate investment trusts. West Farmers

11
00:00:33,440 --> 00:00:35,560
Speaker 1: was the best of the large caps, rising one point

12
00:00:35,680 --> 00:00:38,960
Speaker 1: three percent. Fair bit of corporate news around Sun Corp

13
00:00:39,040 --> 00:00:42,400
Speaker 1: fell two point three percent after mcquarie analysts downgraded the

14
00:00:42,440 --> 00:00:45,680
Speaker 1: group from outperformed to neutral based on its valuation La

15
00:00:45,800 --> 00:00:49,760
Speaker 1: Nina weather pattern in the group's relatively low reinsurance cover.

16
00:00:50,159 --> 00:00:52,680
Speaker 1: Cow Lithium said it mined more of the silvery white

17
00:00:52,720 --> 00:00:56,320
Speaker 1: metal than expected and notwithstanding the slump in lithium prices,

18
00:00:56,600 --> 00:01:01,840
Speaker 1: cause share price jumped ten percent. GQG Partners said funds

19
00:01:01,920 --> 00:01:04,600
Speaker 1: under management have reached two hundred and thirty billion dollars,

20
00:01:04,600 --> 00:01:07,080
Speaker 1: with almost ten billion dollars in us sin's last quarter.

21
00:01:07,400 --> 00:01:09,680
Speaker 1: Its share price initially surged, though it did finish the

22
00:01:09,720 --> 00:01:13,080
Speaker 1: day down more than three percent, but GQG stock is

23
00:01:13,160 --> 00:01:16,080
Speaker 1: up more than seventy percent so far in twenty twenty four,

24
00:01:16,520 --> 00:01:19,760
Speaker 1: and the share price of IDP Education, which provides international

25
00:01:19,920 --> 00:01:23,600
Speaker 1: education services, hit its lowest point in almost four years,

26
00:01:23,640 --> 00:01:27,360
Speaker 1: down another one percent today. IDP office services in Australia,

27
00:01:27,400 --> 00:01:30,440
Speaker 1: Canada and the UK, but the governments in those countries

28
00:01:30,440 --> 00:01:33,600
Speaker 1: are tightening visa and immigration rules, reducing potential customers for

29
00:01:33,640 --> 00:01:36,160
Speaker 1: the group. Its share prices off twenty eight percent so

30
00:01:36,240 --> 00:01:38,960
Speaker 1: far this year. Story number two. There's been a bunch

31
00:01:39,000 --> 00:01:42,880
Speaker 1: of gold miners reporting quarterly production figures, and generally investors

32
00:01:42,920 --> 00:01:46,679
Speaker 1: have been impressed with the outcomes. Today, Romilias posted record

33
00:01:46,720 --> 00:01:49,120
Speaker 1: goal production for the last financial year of two hundred

34
00:01:49,120 --> 00:01:52,200
Speaker 1: and ninety three thousand ounces. Its share price rows two percent.

35
00:01:52,560 --> 00:01:55,760
Speaker 1: Regis said production was at the lower end of expectations

36
00:01:55,800 --> 00:01:58,360
Speaker 1: four hundred and eighteen thousand ounces for the year, but

37
00:01:58,520 --> 00:02:02,760
Speaker 1: higher prices meant record cash levels. Its share price closed flat.

38
00:02:03,000 --> 00:02:06,080
Speaker 1: The All Ordinary Gold INDECKS, which measures the gold stocks,

39
00:02:06,480 --> 00:02:09,640
Speaker 1: was up one percent today. Story number three. The total

40
00:02:09,760 --> 00:02:12,560
Speaker 1: value of new housing loans fell by nearly two percent

41
00:02:12,639 --> 00:02:15,880
Speaker 1: during May, with the biggest forecoming among first home buyers.

42
00:02:16,160 --> 00:02:19,000
Speaker 1: While the value is down during the month, over the

43
00:02:19,000 --> 00:02:22,280
Speaker 1: past year, new home loan commitments have risen eighteen percent,

44
00:02:22,600 --> 00:02:26,120
Speaker 1: with loans to investors growing faster than loans to own occupiers.

45
00:02:26,480 --> 00:02:29,600
Speaker 1: New South Wales, Queensland and Western Australia are leading the

46
00:02:29,639 --> 00:02:31,919
Speaker 1: way in terms of new loans over the past year,

47
00:02:32,200 --> 00:02:36,320
Speaker 1: with loans in the Sunshine State now exceeding Victoria. That's

48
00:02:36,360 --> 00:02:39,080
Speaker 1: also reflected in loan size withere Queensland as taking out

49
00:02:39,120 --> 00:02:42,000
Speaker 1: an average loan of five hundred and eighty thousand dollars

50
00:02:42,320 --> 00:02:44,919
Speaker 1: during May compared to five hundred and sixty six thousand

51
00:02:45,200 --> 00:02:48,880
Speaker 1: for Victorians. Story number four. A curfew has been introduced

52
00:02:48,919 --> 00:02:52,239
Speaker 1: from ten pm to six am over the next three

53
00:02:52,360 --> 00:02:55,720
Speaker 1: nights in Alice Springs after four off duty police officers

54
00:02:56,040 --> 00:02:59,480
Speaker 1: were allegedly assaulted by a group of twenty male youths

55
00:02:59,680 --> 00:03:03,040
Speaker 1: yes day morning. Addressing reporters in Our Springs this afternoon,

56
00:03:03,160 --> 00:03:06,520
Speaker 1: Northern Territory Police Commissioner Michael Murphy said the decision to

57
00:03:06,560 --> 00:03:10,200
Speaker 1: impose the curfew had followed careful consideration over the impact

58
00:03:10,240 --> 00:03:12,520
Speaker 1: of the measure on the local community. He said he

59
00:03:12,600 --> 00:03:16,200
Speaker 1: was mindful about the decision to support Nadock Week, adding

60
00:03:16,200 --> 00:03:19,239
Speaker 1: that community support is needed to solve longer term issues

61
00:03:19,280 --> 00:03:21,760
Speaker 1: in our Springs. Mister Murphy said the answer is it

62
00:03:21,919 --> 00:03:25,240
Speaker 1: in the criminal justice system, but rather in the community

63
00:03:25,320 --> 00:03:27,959
Speaker 1: and the leadership. Police will patrol the center of Our

64
00:03:28,040 --> 00:03:31,160
Speaker 1: Springs from ten pm to six am, ensuring only people

65
00:03:31,160 --> 00:03:33,080
Speaker 1: with the lawful reason are in the area and now

66
00:03:33,120 --> 00:03:38,480
Speaker 1: lawful excuses include fleeing domestic violence, caring for a family member, work,

67
00:03:38,840 --> 00:03:41,240
Speaker 1: or going to a fast food restaurant. Mister Murphy said

68
00:03:41,280 --> 00:03:45,080
Speaker 1: police were exploring more alcohol restrictions as well. And story

69
00:03:45,160 --> 00:03:47,720
Speaker 1: number five Copper and goal developer Rex Minerals share price

70
00:03:47,800 --> 00:03:51,040
Speaker 1: jump sixty percent today after a bid by a group

71
00:03:51,120 --> 00:03:55,680
Speaker 1: backed by Indonesia's wealthy Salem family. Rex has entered into

72
00:03:55,720 --> 00:04:00,160
Speaker 1: a scheme implementation deed with Mac Metal's Australia value the

73
00:04:00,160 --> 00:04:02,320
Speaker 1: minor at three hundred and ninety three million dollars. Mac

74
00:04:02,440 --> 00:04:05,720
Speaker 1: is already a major shareholder in the South Australian group

75
00:04:05,960 --> 00:04:08,640
Speaker 1: and the board of Rex supports the bid. It will

76
00:04:08,640 --> 00:04:11,640
Speaker 1: have to undergo a foreign investment Review Board and shareholder approval.

77
00:04:11,680 --> 00:04:14,320
Speaker 1: Before it gets over the line, that's It's the Afternoon

78
00:04:14,360 --> 00:04:16,760
Speaker 1: Report for Monday, the eighth of July twenty twenty four.

79
00:04:16,800 --> 00:04:19,200
Speaker 1: Don't forget to hit follow on the podcast and find

80
00:04:19,200 --> 00:04:22,279
Speaker 1: Fear and Greed on LinkedIn, Instagram, ex TikTok and Facebook.

81
00:04:22,480 --> 00:04:24,719
Speaker 1: Join Michael Thompson and I tomorrow morning for the Fast

82
00:04:24,720 --> 00:04:27,279
Speaker 1: Five by Fear and Greed, the top five business stories

83
00:04:27,279 --> 00:04:29,920
Speaker 1: you need to know in just five minutes. I'm Sean Elmer.

84
00:04:30,400 --> 00:04:31,119
Speaker 1: Enjoy your evening.