1 00:00:04,120 --> 00:00:07,160 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:07,240 --> 00:00:10,119 Speaker 1: for Tuesday, the tenth of March twenty twenty six. Oh 3 00:00:10,200 --> 00:00:12,879 Speaker 1: Michael Thompson, and every afternoon, We've got the five stories 4 00:00:12,880 --> 00:00:15,000 Speaker 1: that happen today that you need to know about. Let's 5 00:00:15,000 --> 00:00:17,520 Speaker 1: go story number one. The SMPA is X two hundred 6 00:00:17,520 --> 00:00:21,280 Speaker 1: rebounded one point one percent today to eighty six hundred 7 00:00:21,320 --> 00:00:25,360 Speaker 1: and ninety three points. That comes after yesterday's very sharp 8 00:00:25,440 --> 00:00:29,520 Speaker 1: sell off. Today, oil prices fell back below one hundred 9 00:00:29,600 --> 00:00:32,159 Speaker 1: US dollars a barrel, and investors took quite a bit 10 00:00:32,200 --> 00:00:34,880 Speaker 1: of comfort, it seems, from comments by US President Donald 11 00:00:34,920 --> 00:00:38,160 Speaker 1: Trump suggesting that the Iran conflict may be winding down. 12 00:00:38,920 --> 00:00:41,479 Speaker 1: Oil dropped as much as ten percent during the session 13 00:00:41,520 --> 00:00:44,600 Speaker 1: before finishing up at a round ninety four US dollars 14 00:00:44,600 --> 00:00:48,120 Speaker 1: a barrel, easing fears of an extended energy shock after 15 00:00:48,240 --> 00:00:51,680 Speaker 1: yesterday's surge towards one hundred and twenty US dollars a barrel. 16 00:00:52,120 --> 00:00:56,120 Speaker 1: At technology stocks, Leather Recovery, Locally Life three sixty jumps 17 00:00:56,160 --> 00:00:58,520 Speaker 1: more than ten percent. Technology one was up more than 18 00:00:58,560 --> 00:01:04,120 Speaker 1: four percent. Why global edged Higher material stocks also bounced, 19 00:01:04,120 --> 00:01:09,000 Speaker 1: with mineral resources rather up nearly six percent and lithium 20 00:01:09,000 --> 00:01:12,720 Speaker 1: minor pls gaining more than five percent. BHP also had 21 00:01:12,720 --> 00:01:14,199 Speaker 1: a good day. It was up more than two percent. 22 00:01:14,720 --> 00:01:20,880 Speaker 1: Healthcare stocks strengthened, Promedicus rose more than six percent, neuron 23 00:01:20,920 --> 00:01:24,680 Speaker 1: Pharmaceuticals up nine point two percent, while energy companies gave 24 00:01:24,800 --> 00:01:29,160 Speaker 1: back some of yesterday's gains as oil retreated, Woodside down 25 00:01:29,240 --> 00:01:33,399 Speaker 1: nearly four percent, and Santos falling three and a half 26 00:01:33,600 --> 00:01:36,959 Speaker 1: percent onto story number two. Now and five members of 27 00:01:37,040 --> 00:01:41,520 Speaker 1: Iran's women's national soccer team have been granted humanitarian visas 28 00:01:41,560 --> 00:01:44,960 Speaker 1: to remain in Australia after a phone call overnight between 29 00:01:45,120 --> 00:01:49,440 Speaker 1: US President Donald Trump and Australian PM Anthony Alberanezi. The 30 00:01:49,480 --> 00:01:53,240 Speaker 1: players had faced backlash in Iran after refusing to sing 31 00:01:53,320 --> 00:01:56,720 Speaker 1: the national anthem at a Women's Asian Cup match. Five 32 00:01:56,920 --> 00:01:59,520 Speaker 1: of the women left their hotel late last night and 33 00:01:59,640 --> 00:02:03,800 Speaker 1: now being protected by authorities after seeking asylum. Prime Minister 34 00:02:03,800 --> 00:02:07,040 Speaker 1: Anthony Albernezi said Australia would help any other members of 35 00:02:07,040 --> 00:02:10,880 Speaker 1: the team who chose to seek assistance, describing the situation 36 00:02:10,960 --> 00:02:13,960 Speaker 1: as delicate but making clear that support was available. The 37 00:02:14,000 --> 00:02:16,520 Speaker 1: PM and the President spoke at about two am this 38 00:02:16,639 --> 00:02:19,960 Speaker 1: morning after Donald Trump had complained on social media that 39 00:02:20,000 --> 00:02:23,040 Speaker 1: Australia wasn't doing enough to help the soccer team. The 40 00:02:23,120 --> 00:02:27,000 Speaker 1: remaining players and staff left their accommodation today, with reports 41 00:02:27,000 --> 00:02:29,720 Speaker 1: they were heading to the airport for an international flight. 42 00:02:30,520 --> 00:02:34,760 Speaker 1: Story Number three Commodities giant glen Core is considering listing 43 00:02:34,800 --> 00:02:37,600 Speaker 1: at shares on the ASX as it examines ways to 44 00:02:37,680 --> 00:02:41,680 Speaker 1: improve Australian investor understanding of the company and drive up 45 00:02:41,680 --> 00:02:44,800 Speaker 1: its valuation after the collapse of merger talks with Rio Tinto. 46 00:02:45,400 --> 00:02:48,720 Speaker 1: The chief executive Gary Nagel, said that a secondary listing 47 00:02:48,720 --> 00:02:54,799 Speaker 1: in Australia could help more investors and improve familiarity. Could 48 00:02:54,840 --> 00:02:58,640 Speaker 1: help attract rather more investors and improve familiarity with glen Core, 49 00:02:58,960 --> 00:03:01,640 Speaker 1: helping support the trading multiple of the stock. This is 50 00:03:01,760 --> 00:03:05,639 Speaker 1: according to the Financial Review. Rio Tinto said on February six. 51 00:03:05,720 --> 00:03:07,200 Speaker 1: We remember we spoke about it at the time that 52 00:03:07,240 --> 00:03:09,880 Speaker 1: it was dropping the month long merger talks with glen 53 00:03:09,880 --> 00:03:12,040 Speaker 1: Core because the parties couldn't agree on a price for 54 00:03:12,080 --> 00:03:15,440 Speaker 1: a script deal, which would have created the world's biggest 55 00:03:15,480 --> 00:03:18,680 Speaker 1: mining company with evaluation of more than three hundred billion dollars. 56 00:03:18,960 --> 00:03:21,440 Speaker 1: Nagel said that the logic of a merger with Rio 57 00:03:21,560 --> 00:03:24,600 Speaker 1: still existed, but signaled that the two companies were far 58 00:03:24,720 --> 00:03:27,639 Speaker 1: apart on valuation. Got to say it would be good 59 00:03:27,639 --> 00:03:30,840 Speaker 1: for the ASX to get a global listing like glen Core, 60 00:03:31,240 --> 00:03:34,160 Speaker 1: even if it is a secondary listing. The local boss 61 00:03:34,320 --> 00:03:36,600 Speaker 1: has had a little bit of trouble, not just attracting 62 00:03:36,720 --> 00:03:41,440 Speaker 1: offshore companies, but just keeping local companies wanting to list. 63 00:03:42,160 --> 00:03:45,800 Speaker 1: Story number four. Radio host Kyle Sandalands has demanded he 64 00:03:45,880 --> 00:03:48,760 Speaker 1: be allowed to return to air, insisting he did not 65 00:03:48,920 --> 00:03:53,200 Speaker 1: breach his contract with broadcaster ARN, despite the networks of 66 00:03:53,280 --> 00:03:57,800 Speaker 1: spending him and terminating Jackie O Henderson's deal. Sandalands acknowledged 67 00:03:57,960 --> 00:04:00,440 Speaker 1: that he regretted the way he spoke to him Henderson 68 00:04:00,480 --> 00:04:03,160 Speaker 1: during a broadcast last month, but said that the pair 69 00:04:03,200 --> 00:04:07,880 Speaker 1: had always resolved disagreements privately during their twenty seven year partnership. 70 00:04:08,440 --> 00:04:11,080 Speaker 1: ARN claims that Henderson told the company she could no 71 00:04:11,120 --> 00:04:14,360 Speaker 1: longer work with him after the February incident, prompting the 72 00:04:14,400 --> 00:04:18,640 Speaker 1: network to terminate her contract and suspend Sandaland. The dispute 73 00:04:18,640 --> 00:04:21,120 Speaker 1: has put the future of the two hundred million dollar 74 00:04:21,240 --> 00:04:24,240 Speaker 1: Kyle and Jackie O deal in doubt, with Sandaland saying 75 00:04:24,279 --> 00:04:27,400 Speaker 1: that he intends to continue presenting Breakfast Radio and that 76 00:04:27,440 --> 00:04:31,440 Speaker 1: he has engaged lawyers to challenge the company's actions. And finally, 77 00:04:31,480 --> 00:04:36,960 Speaker 1: story number five, Apple has significantly expanded iPhone production in India. 78 00:04:37,080 --> 00:04:40,200 Speaker 1: It assembled about fifty five million devices in the country 79 00:04:40,279 --> 00:04:42,400 Speaker 1: last year, which is a fifty three percent increase on 80 00:04:42,440 --> 00:04:45,400 Speaker 1: the previous year. According to Bloomberg, That means that roughly 81 00:04:45,480 --> 00:04:49,520 Speaker 1: one quarter of Apple's global iPhone output has now made 82 00:04:49,640 --> 00:04:53,039 Speaker 1: in India, as the company shifts manufacturing away from China 83 00:04:53,080 --> 00:04:56,919 Speaker 1: to avoid tariffs and to diversify its supply chain. The 84 00:04:57,040 --> 00:05:00,320 Speaker 1: expansion has been supported by incentives from the Indian government 85 00:05:00,440 --> 00:05:03,160 Speaker 1: aimed at turning the country into a global manufacturing hub. 86 00:05:03,400 --> 00:05:07,279 Speaker 1: Apple still produces most iPhones in China, but India is 87 00:05:07,400 --> 00:05:11,440 Speaker 1: rapidly emerging as a second major base for production. And 88 00:05:11,520 --> 00:05:14,560 Speaker 1: that's it for the Afternoon Report for Tuesday, the tenth 89 00:05:14,600 --> 00:05:17,200 Speaker 1: of March. Make sure you're following the podcast and please 90 00:05:17,200 --> 00:05:19,240 Speaker 1: head along to Fearangreed dot com dot a you to 91 00:05:19,279 --> 00:05:22,320 Speaker 1: sign up for our free daily newsletter. I'm Michael Thompson. 92 00:05:22,560 --> 00:05:23,320 Speaker 1: Enjoy your evening.