1 00:00:03,480 --> 00:00:06,360 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,400 --> 00:00:09,200 Speaker 1: for Tuesday, the third of March twenty twenty six. I'm 3 00:00:09,200 --> 00:00:12,000 Speaker 1: Michael Thompson, and every afternoon we've got the five stories 4 00:00:12,000 --> 00:00:14,080 Speaker 1: that happened today that you need to know about. Let's 5 00:00:14,120 --> 00:00:16,120 Speaker 1: go with story number one. The S and PA Sex 6 00:00:16,160 --> 00:00:19,759 Speaker 1: two hundred fell one point three percent today to nine 7 00:00:19,840 --> 00:00:23,960 Speaker 1: thousand and seventy seven points, with ten of eleven sectors 8 00:00:24,000 --> 00:00:26,720 Speaker 1: lower as a conflict in the Middle East pushed oil 9 00:00:26,760 --> 00:00:29,120 Speaker 1: prices up more than two and a half percent and 10 00:00:29,160 --> 00:00:34,040 Speaker 1: fueled fresh inflation concerns. There's more talk now of another 11 00:00:34,080 --> 00:00:37,479 Speaker 1: interest rate hike. As early as this month. Energy stocks 12 00:00:37,479 --> 00:00:40,480 Speaker 1: were really the standout today, supported by an eight point 13 00:00:40,560 --> 00:00:44,360 Speaker 1: six percent jump in coal prices that's really the best 14 00:00:44,360 --> 00:00:48,239 Speaker 1: in years. New Hope rose seven point four percent. Yan 15 00:00:48,320 --> 00:00:51,040 Speaker 1: Coal gained nearly five percent, white Haven Coal was up 16 00:00:51,080 --> 00:00:54,920 Speaker 1: more than three percent. Well Ampole climbed three point two percent. 17 00:00:54,960 --> 00:00:58,400 Speaker 1: Santos and Woodside we're both up around one percent. Gold 18 00:00:58,440 --> 00:01:02,800 Speaker 1: Mine is actually retreated despite the geopolitical issues. Newmont, Northern 19 00:01:02,800 --> 00:01:06,440 Speaker 1: Star and Evolution Mining were all down. BHP came off 20 00:01:06,440 --> 00:01:09,280 Speaker 1: two point six percent. A couple of other big moves 21 00:01:09,319 --> 00:01:13,520 Speaker 1: to mention. Magellan surged almost twenty two percent today after 22 00:01:13,560 --> 00:01:16,360 Speaker 1: a capital raising tied to its merger with Baron Joey, 23 00:01:16,720 --> 00:01:20,080 Speaker 1: while the monitoring app Life three sixty tumbled more than 24 00:01:20,160 --> 00:01:25,680 Speaker 1: seventeen percent on weaker first quarter guidance. Under story number two. 25 00:01:25,720 --> 00:01:30,520 Speaker 1: Now and Amazon's cloud arm has warned of prolonged service 26 00:01:30,560 --> 00:01:35,160 Speaker 1: disruptions after drone strikes damaged three of its data centers 27 00:01:35,200 --> 00:01:39,560 Speaker 1: in the Middle East. Amazon Web Services said that drones 28 00:01:39,959 --> 00:01:44,520 Speaker 1: directly struck two facilities in the United Arab Emirates, while 29 00:01:44,520 --> 00:01:48,680 Speaker 1: a nearby strike in Bahrain damaged infrastructure that supported another site. 30 00:01:48,960 --> 00:01:54,200 Speaker 1: Two of the three regional hubs remained significantly impaired. Aws 31 00:01:54,360 --> 00:01:58,040 Speaker 1: have said that customers are experiencing elevated error rates and 32 00:01:58,120 --> 00:02:02,200 Speaker 1: degraded availability, and recovery expected to take time given the 33 00:02:02,240 --> 00:02:06,960 Speaker 1: physical damage to these centers. The incident highlights the widening 34 00:02:07,040 --> 00:02:11,280 Speaker 1: economic impact of the escalating regional conflict, which, as we've 35 00:02:11,280 --> 00:02:14,280 Speaker 1: talked about a lot already on the podcast, has already 36 00:02:14,280 --> 00:02:18,880 Speaker 1: disrupted aviation and energy markets, with oil prices spiking even 37 00:02:18,919 --> 00:02:23,639 Speaker 1: today and tanker traffic through the Strait of Hamu's slowing sharply. 38 00:02:24,240 --> 00:02:27,800 Speaker 1: Story number three The effect is being felt locally as well. 39 00:02:27,880 --> 00:02:31,080 Speaker 1: Melbourne hotels are reporting a spike in no shows ahead 40 00:02:31,080 --> 00:02:34,280 Speaker 1: of this weekend Formula one Grand Prix after the Middle 41 00:02:34,320 --> 00:02:38,600 Speaker 1: East conflicts disrupted flights through major hubs including Dubai, Abu 42 00:02:38,639 --> 00:02:43,200 Speaker 1: Dhabi and Doha. The Financial Review has reported that about 43 00:02:43,240 --> 00:02:47,160 Speaker 1: thirty aircraft belonging to those Middle Eastern airlines Eddie, had 44 00:02:47,240 --> 00:02:50,560 Speaker 1: Emirates and Qatar are now on the ground here in 45 00:02:50,600 --> 00:02:54,160 Speaker 1: Australia after being forced to divert over the weekend. F 46 00:02:54,240 --> 00:02:58,720 Speaker 1: one teams are scrambling to get here via Asia instead, 47 00:02:58,800 --> 00:03:03,680 Speaker 1: as airlines are just schedules. Accommodation Australia says hotels in Sydney, 48 00:03:03,720 --> 00:03:07,520 Speaker 1: Melbourne and Brisbane have been hit, with Melbourne the most exposed, 49 00:03:07,520 --> 00:03:10,440 Speaker 1: obviously given the scale of the Grand Prix event. Story 50 00:03:10,520 --> 00:03:12,480 Speaker 1: number four. One person who has been able to make 51 00:03:12,520 --> 00:03:16,120 Speaker 1: it to Australia, Canada's Prime Minister Mark Karney has landed 52 00:03:16,120 --> 00:03:18,560 Speaker 1: in Sydney. It's his first visit here as Prime Minister 53 00:03:18,960 --> 00:03:21,640 Speaker 1: and it's all about what he calls a rupture in 54 00:03:21,760 --> 00:03:25,200 Speaker 1: world order. Karney is here to bolster tize between the 55 00:03:25,240 --> 00:03:28,560 Speaker 1: so called Middle Powers. Countries like Australia and Canada that 56 00:03:28,600 --> 00:03:33,560 Speaker 1: aren't superpowers but still have significant economic and strategic weight. 57 00:03:33,880 --> 00:03:36,400 Speaker 1: He's going to meet business leaders in Sydney then head 58 00:03:36,440 --> 00:03:40,600 Speaker 1: to Canberra to address Parliament. The agenda is really critical minerals, 59 00:03:40,680 --> 00:03:45,920 Speaker 1: defense cooperation and trade diversification. Both countries are dealing really 60 00:03:45,960 --> 00:03:50,600 Speaker 1: with the same pressures, an unpredictable American president, a conflict 61 00:03:50,640 --> 00:03:54,760 Speaker 1: pushing up energy costs, and a really pressing need to 62 00:03:54,840 --> 00:03:59,839 Speaker 1: build alternative partnerships. Karney was previously governor of the Bank 63 00:04:00,080 --> 00:04:02,280 Speaker 1: of Canada and the Bank of England, so he's coming 64 00:04:02,360 --> 00:04:05,600 Speaker 1: at this almost from as much of an economic perspective 65 00:04:05,920 --> 00:04:09,240 Speaker 1: as a diplomatic one. And finally, Storry number five grocery 66 00:04:09,320 --> 00:04:13,320 Speaker 1: chain Aldi suffered a sharp sales slow down heading into Christmas, 67 00:04:13,360 --> 00:04:17,640 Speaker 1: coinciding with a strong showing by Coals and a resurgent Woolworth's. 68 00:04:17,920 --> 00:04:21,839 Speaker 1: A reporting The Australian Today with data from consumer research 69 00:04:21,880 --> 00:04:25,480 Speaker 1: company Skana, suggests that unit sales were down more than 70 00:04:25,560 --> 00:04:28,720 Speaker 1: four percent and dollar sales off one point five percent 71 00:04:28,760 --> 00:04:31,800 Speaker 1: in the eight weeks to December twenty eight, which should 72 00:04:31,839 --> 00:04:34,719 Speaker 1: be very busy as you'd imagine. The biggest falls were 73 00:04:34,720 --> 00:04:38,240 Speaker 1: in bakery, down seven percent by volume, fresh food, which 74 00:04:38,279 --> 00:04:41,359 Speaker 1: was down four percent, beauty down nearly nine percent, and 75 00:04:41,400 --> 00:04:45,120 Speaker 1: pantry items off five point six percent. General merchandise unit 76 00:04:45,200 --> 00:04:49,320 Speaker 1: sales dropped more than thirty five percent, though it must 77 00:04:49,400 --> 00:04:52,200 Speaker 1: be pointed out that these figures exclude these center aisle 78 00:04:52,360 --> 00:04:56,200 Speaker 1: special buyers, for which Aldi is renowned. The data suggests 79 00:04:56,279 --> 00:04:59,080 Speaker 1: that Woolli's and Coals have been gaining share, with both 80 00:04:59,120 --> 00:05:02,640 Speaker 1: reporting a above market growth in recent trading updates. The 81 00:05:02,760 --> 00:05:05,440 Speaker 1: analysts say the games appeared to be coming at Aldi's 82 00:05:05,440 --> 00:05:08,440 Speaker 1: expense rather than from each other. And that's it for 83 00:05:08,440 --> 00:05:11,160 Speaker 1: the afternoon report for Tuesday, the third of March. Make 84 00:05:11,160 --> 00:05:13,360 Speaker 1: sure you're following the podcast and head along a Fear 85 00:05:13,400 --> 00:05:14,919 Speaker 1: and Greed dot com dot a you to sign up 86 00:05:14,920 --> 00:05:18,320 Speaker 1: for our free daily newsletter. I'm Michael Thompson. Enjoy your evening.