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Speaker 1: Well, welcome to the Fear and Greed Business News Afternoon

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Speaker 1: Report for Monday, the seventeenth of November. I'm Michael Thompson,

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Speaker 1: and every afternoon we have the five big stories that

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Speaker 1: you need to know about. Let's get going a story

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Speaker 1: Number one. The SMPA SEX two hundred closed just two

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Speaker 1: points higher today to eighty six hundred and thirty six points.

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Speaker 1: I would call that pretty flat. It comes as investors

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Speaker 1: are waiting on data to start flowing in the US

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Speaker 1: again after the government shutdown. The backlog of economic data

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Speaker 1: reports will help shape interest rate expectations locally. Though Commonwealth

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Speaker 1: Bank fell one percent today, the other three big banks

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Speaker 1: were either up slightly or flat. BHP was zero point

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Speaker 1: six percent lower today. Everyone was watching that one closely.

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Speaker 1: Investors digesting the news that the miner was liable for

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Speaker 1: the twenty fifteen Somaco dam collapse in Brazil. We talked

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Speaker 1: about the ruling in this morning's episode. The decision from

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Speaker 1: the UK High Court could see BHP and Brazilian Minor

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Speaker 1: Valley up for billions of dollars more in compensation. That

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Speaker 1: is in addition to existing agreements with the Brazilian government.

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Speaker 1: Agribusiness Elders share price serves more than six percent today,

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Speaker 1: even though it's underlying earnings for the last year came

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Speaker 1: in below expectations, the group's constructive outlook statement impressed investors.

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Speaker 1: A bunch of well known stocks hit fifty two week

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Speaker 1: lows today, including Treasury, Wine Estates, Wires Tech Global, and Zero.

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Speaker 1: While it was overall a pretty steady day on the

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Speaker 1: local boss, there is still plenty happening in markets. Bitcoin,

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Speaker 1: for instance, as trading around ninety five thousand US dollars

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Speaker 1: a unit. Will have a bit more on this one

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Speaker 1: in tomorrow morning's episode on to story number two. Now

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Speaker 1: and the property market just recorded its busiest auction week

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Speaker 1: since March, with three two hundred and fifty eight Capital

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Speaker 1: City homes going under the hammer and seven to ten

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Speaker 1: properties selling despite fading hopes of future rate cuts. At

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Speaker 1: Melbourne the activity with one four hundred and eighty four auctions.

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Speaker 1: That's the third busiest week of the year, with a

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Speaker 1: clearance rate of seventy point five percent. Sydney followed with

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Speaker 1: about two hundred less auctions and then its strongest preliminary

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Speaker 1: clearance rate in a month at seventy point eight percent.

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Speaker 1: Auctions have been fairly steady. Agents say buyer demand remained strong,

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Speaker 1: with ray White reporting an average of three point one

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Speaker 1: bidders per auction, up from two point six last year.

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Speaker 1: Tim lawlece from Totality, which is where a lot of

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Speaker 1: this data comes from. It says that prices are being

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Speaker 1: supported by very low supply, with listings still tracking around

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Speaker 1: eighteen percent below average. Story number three US energy giant

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Speaker 1: Conoco Phillips has made a major gas discovery off the

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Speaker 1: Victorian Coast. The discovery is in the Otway Basin, southwest

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Speaker 1: of Port Campbell and comes two weeks after drilling commenced

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Speaker 1: in the area, which is about fifty kilometers offshore and

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Speaker 1: twelve kilometers from existing gas production wells. The hope is

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Speaker 1: that the discovery can contribute to alleviating pressure on gas

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Speaker 1: supplies along the East Coast. Conoco and partner Korean National

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Speaker 1: Oil Corporation were aiming to find about two hundred and

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Speaker 1: sixty billion cubic feet of resources in two separate reservoirs,

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Speaker 1: and the early results of the drilling came in largely

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Speaker 1: in line with expectations. One winner from the find was

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Speaker 1: its junior drilling partner, three D Energy that's energy with

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Speaker 1: an eye at the end. Its share price jumped more

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Speaker 1: than fifty percent. Story number four. More than two hundred

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Speaker 1: and seventy thousand malicious emails impersonating Services Australia and Centrelink

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Speaker 1: have flooded Australian inboxes over the past four months in

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Speaker 1: one of the nation's largest ever fishing campaigns. The sophisticated

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Speaker 1: attacks have specifically targeted the country's most vulnerable citizens, according

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Speaker 1: to a report in nine Media, and was uncovered by

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Speaker 1: human risk management platform mimecast. Attackers are using artificial intelligence

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Speaker 1: to create really what are near perfect clones of legitimate

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Speaker 1: government communications. The email's mimic government correspondence about medicare, about

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Speaker 1: job seeker payments, superannuation and family tax benefits with alarming accuracy.

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Speaker 1: The scam is pretty broad. It's going to individuals, schools, hospitals,

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Speaker 1: law firms, corporations, and even government agencies themselves. Finally, Story

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Speaker 1: number five, US President Donald Trump is urging Republicans now

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Speaker 1: to vote to release the so called Epstein files, saying

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Speaker 1: he has quote nothing to hide and he wants Congress

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Speaker 1: to move on. But there are concerns the release could

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Speaker 1: be limited by new criminal investigations Trump has ordered into

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Speaker 1: the late sex offender Jeffrey Epstein's links to prominent Democrats,

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Speaker 1: including Bill Clinton. Trump told Republicans to back a bill

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Speaker 1: that would force publication of the files, saying Democrats are

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Speaker 1: using Epstein as a distraction from his achievements, including ending

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Speaker 1: the recent government shutdown. Epstein died in jail in twenty

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Speaker 1: nineteen while awaiting trial on sex trafficking charges. His associate,

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Speaker 1: Gillid Maxwell, is serving a twenty year sentence. That's it

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Speaker 1: for the afternoon Report for Monday, the seventeenth of November.

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Speaker 1: Make sure you're following the podcast and head along to

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Speaker 1: Fearangreed dot com dot au or check the link in

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Speaker 1: our show notes to sign up for our free daily

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Speaker 1: newsletter in your inbox every morning by six am. A

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Speaker 1: great cheap sheep to get me started for the day.

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Speaker 1: I'm Michael Thompson. Have a great evening.