1
00:00:06,040 --> 00:00:08,720
Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report

2
00:00:08,720 --> 00:00:11,520
Speaker 1: for Thursday, the thirteenth of March twenty twenty five. I'm

3
00:00:11,520 --> 00:00:14,680
Speaker 1: Sean Aylmer. Every afternoon, we've got the five stories that

4
00:00:14,800 --> 00:00:16,760
Speaker 1: happened today that you need to know about strain. I'm

5
00:00:16,800 --> 00:00:20,160
Speaker 1: one there in Pax two hundred closed down half percent

6
00:00:20,200 --> 00:00:23,240
Speaker 1: today to seven seven hundred and forty nine points, another

7
00:00:23,280 --> 00:00:25,720
Speaker 1: seven month low. It was a tough day for the

8
00:00:25,800 --> 00:00:30,120
Speaker 1: energy companies as the price of coal heads south and

9
00:00:30,280 --> 00:00:35,479
Speaker 1: investment analysts downgrade the coal company's outlooks, yan Coal, New Hope,

10
00:00:35,560 --> 00:00:37,839
Speaker 1: and white Haven. We're all among the worst performers of

11
00:00:37,880 --> 00:00:40,880
Speaker 1: the top two hundred stocks today. The flip side, well,

12
00:00:40,920 --> 00:00:43,040
Speaker 1: that's the gold stocks benefiting from a jump in the

13
00:00:43,080 --> 00:00:46,239
Speaker 1: price of the precious metal to near record highs. There

14
00:00:46,320 --> 00:00:49,040
Speaker 1: is broad base selling everywhere. The big banks and miners

15
00:00:49,040 --> 00:00:51,120
Speaker 1: were lower, retailers were mixed. Some of the tech stocks

16
00:00:51,159 --> 00:00:53,880
Speaker 1: in a bit better today. In corporate news, haulage companies

17
00:00:53,920 --> 00:00:58,200
Speaker 1: Silk Logistics tumbled twenty three percent after the Competition watchdog

18
00:00:58,440 --> 00:01:03,200
Speaker 1: raised concerns over Steave DP World's takeover bid stra Number two.

19
00:01:03,280 --> 00:01:07,320
Speaker 1: The fallout from the tariff decision in the US continues.

20
00:01:07,400 --> 00:01:11,800
Speaker 1: There's the political angle. Prime Minister Anthony Albernizi says Opposition

21
00:01:11,880 --> 00:01:15,440
Speaker 1: leader Peter Dutton is a cheer squad for Donald Trump.

22
00:01:15,560 --> 00:01:18,240
Speaker 1: That came after Peter Dutton said the Coalition would have

23
00:01:18,240 --> 00:01:22,560
Speaker 1: secured an exemption from the tariffs, notwithstanding no other country

24
00:01:22,560 --> 00:01:25,319
Speaker 1: has secured one. For his part, Peter Dutton pushed the

25
00:01:25,360 --> 00:01:30,040
Speaker 1: importance of the Orchestra relationship today. There's also the geopolitical

26
00:01:30,200 --> 00:01:32,520
Speaker 1: angle of these twenty five per cent tariffs on steel

27
00:01:32,520 --> 00:01:36,600
Speaker 1: and aluminum. While Europe and Canada have quickly retaliated by

28
00:01:36,600 --> 00:01:40,360
Speaker 1: imposing their own levies and US goods so far, Australian

29
00:01:40,400 --> 00:01:44,399
Speaker 1: politicians and business leaders, including Westpac boss Anthony Miller, have

30
00:01:44,760 --> 00:01:49,720
Speaker 1: recommended no retaliatory tariffs, sort of don't poke the bear anymore.

31
00:01:50,080 --> 00:01:52,160
Speaker 1: And then, of course there's the response from the United

32
00:01:52,240 --> 00:01:57,560
Speaker 1: States to Australia's outcry. Commerce Secretary Howard Lutnick called out

33
00:01:57,640 --> 00:02:02,720
Speaker 1: Australia for criticism, accusing the country of subsidizing cheap aluminum exports.

34
00:02:03,040 --> 00:02:06,080
Speaker 1: Story number three. Consumer related stocks, which did pretty well

35
00:02:06,120 --> 00:02:09,400
Speaker 1: earlier in the year, are leading the market lower, with

36
00:02:09,520 --> 00:02:13,040
Speaker 1: fears of an economic downturn hitting many companies now West

37
00:02:13,080 --> 00:02:17,240
Speaker 1: Farmers is the biggest consumer discretionary stock. After one percent

38
00:02:17,320 --> 00:02:21,000
Speaker 1: dropped today, It's down thirteen percent since its peak less

39
00:02:21,000 --> 00:02:24,079
Speaker 1: than four weeks ago. Next on the list is gaming

40
00:02:24,120 --> 00:02:27,799
Speaker 1: machine maker Aristocrat Leisure. Its biggest market is the US.

41
00:02:27,880 --> 00:02:30,880
Speaker 1: Fears I have a recession there has hit its share

42
00:02:30,919 --> 00:02:34,320
Speaker 1: price down fifteen percent since its peak. Even JB Hi Fi,

43
00:02:34,480 --> 00:02:37,920
Speaker 1: which really for years has lived in its own ecosphere,

44
00:02:38,400 --> 00:02:40,919
Speaker 1: it's being hit. It's also down fifteen percent in less

45
00:02:40,919 --> 00:02:43,560
Speaker 1: than four weeks. You can throw in Harvey Norman, Gouzmini

46
00:02:43,639 --> 00:02:47,200
Speaker 1: Gomez travel groups like flight Center and Corporate Travel Management,

47
00:02:47,440 --> 00:02:50,840
Speaker 1: and this is happening despite interest rates having been cut

48
00:02:50,919 --> 00:02:53,919
Speaker 1: a few weeks ago. Story number four. There were three

49
00:02:54,200 --> 00:02:58,040
Speaker 1: new boss announcements today. For more, Woolly's boss Brad Banducci

50
00:02:58,120 --> 00:03:02,040
Speaker 1: will take over ticketing group TE acting nine. CEO Matt

51
00:03:02,040 --> 00:03:05,680
Speaker 1: Stanton has been confirmed as the entertainment group's full time boss,

52
00:03:05,919 --> 00:03:09,960
Speaker 1: and billionaire Scott Farquha will become chair of the Tech Council.

53
00:03:10,320 --> 00:03:13,760
Speaker 1: Farquay hit the ground running today, calling on the government

54
00:03:13,800 --> 00:03:18,120
Speaker 1: to lessen the economy's dependence on natural resources, and story

55
00:03:18,200 --> 00:03:21,480
Speaker 1: number five that Kremlin says it will review details from

56
00:03:21,560 --> 00:03:24,320
Speaker 1: Washington about a proposal for a thirty day ceasefire in

57
00:03:24,440 --> 00:03:28,880
Speaker 1: Ukraine before responding. While US Secretary of State Marco Rubio

58
00:03:29,240 --> 00:03:33,520
Speaker 1: hopesadeal will be struck within days as Moscow considers the plan,

59
00:03:33,880 --> 00:03:37,360
Speaker 1: President Vladimir Putin, dressed in military fatigues, made a surprise

60
00:03:37,440 --> 00:03:41,320
Speaker 1: visit to Russia's Curse region for the first time since

61
00:03:41,440 --> 00:03:44,840
Speaker 1: Ukrainian troops captured part of it last year. Now. Rubio

62
00:03:45,040 --> 00:03:48,680
Speaker 1: said the US was hoping for a positive response from

63
00:03:48,760 --> 00:03:52,160
Speaker 1: the Kremlin and that if the answer was no, that

64
00:03:52,280 --> 00:03:56,760
Speaker 1: would tell Washington a lot about Russia's true intentions. Associated

65
00:03:56,800 --> 00:03:59,480
Speaker 1: Press is reporting that Russia has presented Washington with a

66
00:03:59,480 --> 00:04:01,640
Speaker 1: list of demands for a deal to end the Ukraine

67
00:04:01,680 --> 00:04:05,280
Speaker 1: War in reset relations with the US. While these specifics

68
00:04:05,280 --> 00:04:09,720
Speaker 1: aren't clear, it's understood they include no NATO membership for Kiev,

69
00:04:10,080 --> 00:04:13,920
Speaker 1: recognition of Russia's claim to Crimea and for Ukrainian provinces,

70
00:04:14,240 --> 00:04:17,640
Speaker 1: and an agreement that foreign troops not be deployed in

71
00:04:17,760 --> 00:04:21,000
Speaker 1: the Ukraine. That's it the Afternoon Report for Thursday, the

72
00:04:21,080 --> 00:04:23,680
Speaker 1: thirteenth of March twenty twenty five. Make sure you follow

73
00:04:23,680 --> 00:04:26,000
Speaker 1: on the podcast. We'll be back tomorrow morning with the

74
00:04:26,040 --> 00:04:29,040
Speaker 1: Friday edition of Fear and Greed Business News. I'm Sean Elmer.

75
00:04:29,520 --> 00:04:30,279
Speaker 1: Enjoy your evening.