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Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report

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Speaker 1: for Tuesday, the twenty fourth of March twenty twenty six.

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

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Speaker 1: stories that happened today that you need to know about.

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Speaker 1: Let's go a story number one. The S and PA

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Speaker 1: SEX two hundred closed zero point two percent higher today

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Speaker 1: to eighty three hundred and seventy nine points after a

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Speaker 1: very strong start to the day. The market surged one

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Speaker 1: point three percent this morning on hopes of a de

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Speaker 1: escalation in the Middle East. There were suggestions from US

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Speaker 1: President Donald Trump that peace talks of a sort were

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Speaker 1: underway that caused oil prices to tumble, but Iran described

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Speaker 1: the reports as fake news, and the optimism faded slightly

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Speaker 1: as well on signs that the United Arab Emirates and

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Speaker 1: Saudi Arabia may be preparing to enter the conflict as well.

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Speaker 1: Oil prices climbed again. Locally. Energy stocks were mixed, Ampole

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Speaker 1: was up one point two percent, Woodside slipped slightly. Mining

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Speaker 1: stocks led The game's BHP was up three percent, Rea

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Speaker 1: tinto more than two percent, while gold mine is also

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Speaker 1: rebounded despite a weaker gold price. The prospect of those

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Speaker 1: easing tensions hit defense stocks like electro optic Systems and

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Speaker 1: drone shield Both of those were off nearly seven percent,

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Speaker 1: and the banks were mixed, with A and Z edging

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Speaker 1: higher while others lost ground. Unto story number two. In

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Speaker 1: a case of very poor timing, Santos, the oil and

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Speaker 1: gas giant, has suffered a stoppage at its new six

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Speaker 1: billion dollar Barossa gas project in the tm ORC, cutting

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Speaker 1: exports from its recently restarted Darwin LNG planted. It comes

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Speaker 1: just as global gas markets face a severe squeeze because

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Speaker 1: of the loss of exports from Qatar. The company said

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Speaker 1: that the temporary shutdown of Darwin LNG was required by

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Speaker 1: the replacement of some equipment on the offshore production vessel

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Speaker 1: used at Barossa. While a shutdown was planned, there was

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Speaker 1: no date given for reopening. Some global gas prices have

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Speaker 1: more than doubled since the beginning of the Middle East War.

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Speaker 1: Santos's share price fell two point six percent today. Under

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Speaker 1: story number three, New South Wales Premier Chris Mins has

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Speaker 1: called for COVID style protocols to manage the escalating fuel crisis,

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Speaker 1: raising the prospect of national rules for rationing and working

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Speaker 1: from home should the situation get worse. Mins told New

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Speaker 1: South Wales Parliament that any demand management measures, including fuel

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Speaker 1: rationing or remote work should be applied consistently across the country,

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Speaker 1: warning against a patchwork of state based responses. He said

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Speaker 1: New South Wales would push the Commonwealth and other states

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Speaker 1: for a coordinated approach if the situation worsened. It comes

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Speaker 1: as News Limited reports the Finance Sector Union has written

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Speaker 1: to employers across the country, including the Big four banks,

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Speaker 1: urging them to allow staff to determine their own flexible

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Speaker 1: working arrangements instead of mandating work from home days story

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Speaker 1: number four. More than five hundred schools have been disrupted

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Speaker 1: today as tens of thousands of angry teachers went on

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Speaker 1: striking Victoria and Tasmania for the first time in more

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Speaker 1: than a decade. Public school teachers, principles and other education

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Speaker 1: staff marched from Victorian Trades Hall to Parliament for a

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Speaker 1: rally on the front steps. Schools remained open across the state,

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Speaker 1: but many parents were told classes wouldn't run and were

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Speaker 1: being asked to keep the children home if possible. The

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Speaker 1: union representing teachers wants to see a thirty five percent

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Speaker 1: pay rise over three years, while the state government last

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Speaker 1: week offered eighteen percent. Finally, sorry, number five. Two pilots

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Speaker 1: have been killed after an Air Canada Express plane collided

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Speaker 1: with a firetruck on the runway at LaGuardia Airport in

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Speaker 1: New York. Air traffic control audio captured frantic attempts to

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Speaker 1: stop the vehicle the truck, that is, moments before impact,

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Speaker 1: with the controller later admitting I messed up. The aircraft,

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Speaker 1: which was carrying seventy two passengers and four crew, struck

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Speaker 1: the fire truck at high speed, destroying the cockpit, killing

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Speaker 1: both pilots. More than forty people were taken to hospital,

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Speaker 1: including a flight attendant who was actually thrown from the plane,

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Speaker 1: still strapped to her seat. And that's it for the

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Speaker 1: afternoon report for Tuesday, the twenty fourth of March. Make

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

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

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Speaker 1: free daily newsletter. I'm Michael Thompson. Enjoy your evening.