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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 ninth of March twenty twenty six. I'm

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Speaker 1: Michael Thompson, and every afternoon we've got the five stories

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Speaker 1: that happen today that you need to know about. Let's

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Speaker 1: go with story number one. It is all about markets.

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Speaker 1: The S and PA SEX two hundred has tumbled almost

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Speaker 1: three percent today in its worst session since April of

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Speaker 1: last year. The share market was down two point nine

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Speaker 1: percent to eighty five hundred and ninety nine points, as

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Speaker 1: the escalating conflict in Iran since oil prices surging nearly

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Speaker 1: thirty percent, rattling global markets. It was actually much worse

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Speaker 1: earlier in the day. At one point, the local boss

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Speaker 1: was off four point three percent. The price of crude

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Speaker 1: jumped about twenty seven percent today to around one hundred

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Speaker 1: and eighteen US dollars a barrel after disruption to shipping

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Speaker 1: through the Strait of Hilmus, which we have talked about

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Speaker 1: on the podcast previously. The spike has reignited these fears

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Speaker 1: of higher inflation and the prospect then of further interest

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Speaker 1: rate hikes as well. Energy stocks today were among the

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Speaker 1: few gainers. KRE and Energy was up more than ten percent,

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Speaker 1: yang Cole rose more than thirteen percent, while oil and

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Speaker 1: gas giants Santos and Woodside were both up more than

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Speaker 1: two percent. But every other sector lost ground today. Materials

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Speaker 1: and tech stops were hardest hit. BHP lost more than

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Speaker 1: five percent, Rio tinto almost four percent, while the major

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Speaker 1: banks fell between one point six percent and two point

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Speaker 1: three percent. Property groups Center and Mervak dropped. Gold miners

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Speaker 1: Northern Star and Neumont both tumbled. Big declines all over

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Speaker 1: the place, and we'll have a much more detailed look

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Speaker 1: at this story tomorrow morning on destory number two. Now

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Speaker 1: and still tied to the conflict and turmoil in the

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Speaker 1: Middle East, airlines based in that region are now expanding

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Speaker 1: refund and rebooking options as the conflict enters its second

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Speaker 1: week continues to disrupt global travel. Emirates has extended its

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Speaker 1: policy to allow free rebookings or refunds for passengers with

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Speaker 1: bookings through to March thirty one. Qatar Airways is offering

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Speaker 1: free rebookings or refunds for tickets with travel dates between

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Speaker 1: February twenty eight and March fifteen. Another major one, Eddie

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Speaker 1: had Airways, also allowing passengers with bookings between February twenty

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Speaker 1: eight and March twenty one to rebook flights at no

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Speaker 1: extra cost up until May fifteen, or request a refund

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Speaker 1: if they choose not to travel. Quantus has matched Emirates

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Speaker 1: approach for customers traveling on partner airlines through the Middle East.

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Speaker 1: It comes as Australian authorities continue to warn travelers to

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Speaker 1: avoid the region and to wait for flight confirmation before

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Speaker 1: heading to the airport. Story number three. Australia is facing

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Speaker 1: calls to protect Iran's women's national soccer team after players

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Speaker 1: faced criticism at home for not singing the national anthem

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Speaker 1: during a Women's Asian Cup match on the Gold Coast.

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Speaker 1: Some Iranian officials and media figures reportedly labeled the players traitors,

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Speaker 1: raising concerns about their safety if they return now to Iran.

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Speaker 1: Footage of the team leaving their final match last night

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Speaker 1: reportedly shows one of the players on board the team

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Speaker 1: bus making the international sign for SOS. Advocacy groups and

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Speaker 1: some politicians are now urging the Australian government to allow

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Speaker 1: the team to remain in Australia or to offer humanitarian protection.

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Speaker 1: Foreign Minister Pennywong has declined to comment on whether the

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Speaker 1: government had been in direct contact with the players, but

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Speaker 1: has said that Australians have been moved by their presence

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Speaker 1: during the tournament. Story number four, Change of Pace. Now,

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Speaker 1: baby boomers in Australia now hold almost six trillion dollars

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Speaker 1: in wealth after an eight hundred and forty percent increase

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Speaker 1: over the past two decades, driven largely by rising property

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Speaker 1: and share prices. Analysis from the Banquest Curtain Economic Center

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Speaker 1: in nine newspapers today shows that Australians aged over sixty

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Speaker 1: five now control nearly a third of national wealth, up

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Speaker 1: from about twenty seven percent in two thousand and two.

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Speaker 1: Much of that wealth is, of course tied up in housing,

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Speaker 1: with property assets owned by baby boomers rising to almost

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Speaker 1: three trillion dollars while they're carrying very little debt. Researchers

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Speaker 1: say the findings highlight growing into generational inequality, with younger

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Speaker 1: Australians holding less wealth while taking on far higher housing

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Speaker 1: debt in order to enter the property market. And finally,

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Speaker 1: story number five had about this one. Nepal looks set

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Speaker 1: for a dramatic political shift after rapper turned politician Belendra

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Speaker 1: Shah led his party to a landslide election victory now

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Speaker 1: at Shah's party, which is only formed I think about

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Speaker 1: three years ago, one at least one hundred and twenty

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Speaker 1: two of the one hundred and sixty five directly elected seats,

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Speaker 1: putting it on course for the largest majority since Nepal

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Speaker 1: became a democracy. The thirty five year old former rapper

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Speaker 1: rose to prominence during protests that had been led by

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Speaker 1: youths in the country that toppled the previous government last year,

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Speaker 1: and campaigned on promises to tackle corruption and deliver change.

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Speaker 1: Supporters say the result represents a generational revolt against Nepal's

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Speaker 1: political old card and a powerful endorsement of a growing

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Speaker 1: gen Z political movement. And that's it for the Afternoon

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Speaker 1: Report for Monday, the ninth of March. Make sure you're

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Speaker 1: following the podcast and please head along to Fear and

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Speaker 1: Greed dot com dot au to sign up for our

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Speaker 1: free daily newsletter of the link in the show notes

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Speaker 1: as well. I'm Michael Thompson. Enjoy your eating