1 00:00:04,080 --> 00:00:06,640 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,720 --> 00:00:09,320 Speaker 1: for Wednesday, the thirtieth of April twenty twenty five. I'm 3 00:00:09,360 --> 00:00:11,799 Speaker 1: Sean Almer. Every afternoon, We've got the five stories that 4 00:00:11,880 --> 00:00:14,320 Speaker 1: happened today that you need to know about. Story number one, 5 00:00:14,520 --> 00:00:16,360 Speaker 1: it was a good day on the local share market 6 00:00:16,480 --> 00:00:19,720 Speaker 1: after figures from the Bureau of Statistics showed that inflation 7 00:00:20,040 --> 00:00:23,840 Speaker 1: both headline and underlying fell below three percent during the 8 00:00:23,880 --> 00:00:27,040 Speaker 1: March quarter. Market economists now expect an interst rate cut 9 00:00:27,080 --> 00:00:29,880 Speaker 1: in three weeks when the Reserve Bank Board meets. That 10 00:00:29,960 --> 00:00:33,200 Speaker 1: helped the local boars, with the SMPASX two hundred closing 11 00:00:33,280 --> 00:00:35,880 Speaker 1: up zero point seven percent to eight thousand, one hundred 12 00:00:35,880 --> 00:00:39,440 Speaker 1: and twenty six points. Broadly speaking, interest rate sensitive stocks 13 00:00:39,440 --> 00:00:43,559 Speaker 1: did best, the tech companies, real estate companies, consumer discretionary stocks, 14 00:00:44,200 --> 00:00:47,559 Speaker 1: utilities and energy companies underperformed. Among the large caps come 15 00:00:47,600 --> 00:00:51,240 Speaker 1: WEF Bank, CSL, West Farmers, and Aristocrat Leisure had good days. 16 00:00:51,520 --> 00:00:54,440 Speaker 1: For dis FW Metals and Quarry not so much. Story 17 00:00:54,480 --> 00:00:58,480 Speaker 1: number two. Polling suggests the Coalition is doing relatively well, 18 00:00:58,800 --> 00:01:02,880 Speaker 1: gaining preferences from one Nation and center right parties, tightening 19 00:01:03,000 --> 00:01:06,080 Speaker 1: up the race for the Lodge, tightening it up, but 20 00:01:06,200 --> 00:01:08,759 Speaker 1: not enough to allow Peter Dutton to become Prime Minister 21 00:01:08,840 --> 00:01:11,080 Speaker 1: according to the polls. It adds to the argument that 22 00:01:11,080 --> 00:01:14,280 Speaker 1: the Coalition could win some outer city seats, meaning the 23 00:01:14,319 --> 00:01:17,679 Speaker 1: ALP will be returned, but as a minority government. The 24 00:01:17,800 --> 00:01:22,040 Speaker 1: JWS research polling suggests in outer suburban seats One Nation, 25 00:01:22,400 --> 00:01:26,160 Speaker 1: Family First and Clive Palmer's Trumpet of Patriots are collectively 26 00:01:26,200 --> 00:01:30,320 Speaker 1: polling around ten percent, so their preferences matter. With three 27 00:01:30,360 --> 00:01:34,039 Speaker 1: days to go, momentum is definitely with the ALP story. 28 00:01:34,160 --> 00:01:37,600 Speaker 1: Number three, Star Entertainment is continuing to lose money across 29 00:01:37,640 --> 00:01:39,920 Speaker 1: its gaming outlets, with the introduction of cash limits and 30 00:01:39,959 --> 00:01:44,800 Speaker 1: mandatory identification cards at its Sydney casino triggering a quarterly loss. 31 00:01:45,080 --> 00:01:49,040 Speaker 1: Star says there is still material uncertainty regarding its ability 32 00:01:49,080 --> 00:01:51,920 Speaker 1: to continue as a going concern. For the quarter it 33 00:01:51,960 --> 00:01:54,600 Speaker 1: made a pretax loss of twenty one million dollars. There 34 00:01:54,640 --> 00:01:57,560 Speaker 1: was a seasonal decline in revenue reduced levels of gaming 35 00:01:57,720 --> 00:02:01,920 Speaker 1: visitation in the one off impact of weathering Queensland during March. Sorry. 36 00:02:02,000 --> 00:02:05,760 Speaker 1: Number four. Elsewhere in corporate land, Westpac, Australia's second largest bank, 37 00:02:05,960 --> 00:02:07,800 Speaker 1: so at its bottom line for the March half, to 38 00:02:07,840 --> 00:02:11,000 Speaker 1: be announced next week, will be hit by one hundred 39 00:02:11,000 --> 00:02:14,360 Speaker 1: and forty million dollar hedging related issue. Origin Energy reported 40 00:02:14,400 --> 00:02:17,520 Speaker 1: a quarter on quarter fall in LNG revenue driven by 41 00:02:17,560 --> 00:02:21,840 Speaker 1: lower volumes and LNG prices, and Perseus Mining's goal sales 42 00:02:21,840 --> 00:02:23,880 Speaker 1: fell in the March quarter owing to a fall in 43 00:02:23,919 --> 00:02:27,480 Speaker 1: production and the timing of shipments over that period. Finally, 44 00:02:27,560 --> 00:02:30,640 Speaker 1: story number five, the Trump tariffs are hitting big business 45 00:02:30,680 --> 00:02:33,959 Speaker 1: in the US, with delivery group Ups saying it will 46 00:02:33,960 --> 00:02:37,519 Speaker 1: cut twenty thousand jobs and General Motors dumping its earnings 47 00:02:37,520 --> 00:02:40,800 Speaker 1: outlook statement on the back of all the uncertainty. Similar 48 00:02:40,840 --> 00:02:43,600 Speaker 1: to what we are seeing in Australia, companies are telling 49 00:02:43,600 --> 00:02:46,040 Speaker 1: investors that revenue and earnings will be hit by the 50 00:02:46,240 --> 00:02:50,160 Speaker 1: economics malay spurred by the trade war. So Craft Heines, 51 00:02:50,200 --> 00:02:52,720 Speaker 1: maker of tomato sauce Ketchup, I suppose we should be 52 00:02:52,800 --> 00:02:55,920 Speaker 1: calling it. It's pulled its outlook for earnings, as have 53 00:02:56,160 --> 00:03:00,320 Speaker 1: Electrolux and airline Jet Blue Airways. Coca Colam says consumers 54 00:03:00,360 --> 00:03:03,359 Speaker 1: in Denmark and Mexico, as well as some in the US, 55 00:03:03,400 --> 00:03:06,360 Speaker 1: are drinking less coke as a result of Trump's policies. Now, 56 00:03:06,480 --> 00:03:11,120 Speaker 1: Reuter's analysis says about forty companies worldwide have pulled or 57 00:03:11,200 --> 00:03:14,880 Speaker 1: lowered their forward guidance in the past Fortnite executives are 58 00:03:14,880 --> 00:03:17,600 Speaker 1: worried the Trump trade policies have hit consumer and business 59 00:03:17,600 --> 00:03:21,400 Speaker 1: sentiment and the damage done will not easily be reversed. 60 00:03:22,120 --> 00:03:24,519 Speaker 1: That's it for the Afternoon Report for Wednesday, the thirtieth 61 00:03:24,520 --> 00:03:26,680 Speaker 1: of April twenty twenty five. Make sure you hit follow 62 00:03:26,720 --> 00:03:29,120 Speaker 1: on the podcast. We'll be back tomorrow morning with the 63 00:03:29,200 --> 00:03:31,800 Speaker 1: first edition from the past five business years. By few 64 00:03:31,840 --> 00:03:34,400 Speaker 1: and Grieved. I'm Sean Elmer. Enjoy your evening.