1 00:00:03,560 --> 00:00:06,280 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,320 --> 00:00:08,960 Speaker 1: for Monday, the eleventh of November twenty twenty four. I'm 3 00:00:09,000 --> 00:00:11,760 Speaker 1: Sean A. Elmer. Every afternoon, we've got the five stories 4 00:00:11,760 --> 00:00:14,080 Speaker 1: that happened today that you need to know about. Storingum one. 5 00:00:14,160 --> 00:00:18,319 Speaker 1: The SMPASX two hundred finished down zero point three five 6 00:00:18,320 --> 00:00:21,000 Speaker 1: percent today to one thousand, two hundred and sixty six points. 7 00:00:21,440 --> 00:00:25,720 Speaker 1: An underwhelming response to Chinese government stimulus over the weekend 8 00:00:25,840 --> 00:00:28,200 Speaker 1: sent the price of iron all low, and the big 9 00:00:28,240 --> 00:00:30,920 Speaker 1: miners followed fortyesqu Medals Group finished down at more than 10 00:00:31,120 --> 00:00:35,040 Speaker 1: seven percent, BHP was off four percent. Rio Tinto was 11 00:00:35,080 --> 00:00:37,840 Speaker 1: down three percent. The best of the large caps were 12 00:00:38,120 --> 00:00:41,080 Speaker 1: Goodman Group, the industrial property company, Weis Tech Global, and 13 00:00:41,360 --> 00:00:44,920 Speaker 1: Ria Group. Instec Pivots share price jumped slightly zero point 14 00:00:44,960 --> 00:00:48,040 Speaker 1: three percent despite recording a three hundred and eleven million 15 00:00:48,080 --> 00:00:50,160 Speaker 1: dollar loss in the year to the end of September. 16 00:00:50,560 --> 00:00:52,800 Speaker 1: The loss was due to the impairment of the group's 17 00:00:52,840 --> 00:00:56,160 Speaker 1: fertilizer business, which it's been trying to sell for quite 18 00:00:56,160 --> 00:00:58,960 Speaker 1: some time now. DP World Australia made a bid for 19 00:00:59,000 --> 00:01:02,040 Speaker 1: a small cap business called Silk Logistics. It's share price 20 00:01:02,120 --> 00:01:05,520 Speaker 1: jump to forty percent and pe group Genesis Capital up 21 00:01:05,520 --> 00:01:09,040 Speaker 1: to its bid for dental company Pacifics Miles, storrowing Number two. 22 00:01:09,040 --> 00:01:12,640 Speaker 1: The latest News poll shows that primary support for the 23 00:01:12,640 --> 00:01:17,120 Speaker 1: Coalition federally is rising and Opposition leader Peter Duntoney is 24 00:01:17,160 --> 00:01:20,960 Speaker 1: getting closer but still remains behind Anthony Alberanzi as preferred 25 00:01:20,959 --> 00:01:24,280 Speaker 1: prime minister. The poll for The Australian says the coalition's 26 00:01:24,280 --> 00:01:28,000 Speaker 1: primary vote has risen two percentage points to forty percent. 27 00:01:28,400 --> 00:01:31,279 Speaker 1: That means coalition can be competitive in the next election 28 00:01:31,440 --> 00:01:34,160 Speaker 1: during the middle of May. Now, ALP's primary vote is 29 00:01:34,200 --> 00:01:36,560 Speaker 1: also up two percent to about thirty three percent, but 30 00:01:36,600 --> 00:01:40,080 Speaker 1: they get many of the preferences from the Greens. Hence 31 00:01:40,240 --> 00:01:42,560 Speaker 1: the Coalition needs to be well in front of ALP 32 00:01:43,400 --> 00:01:46,800 Speaker 1: on the primary vote. Broadly, the News poll shows a 33 00:01:46,880 --> 00:01:50,040 Speaker 1: drop in support to independence and minor parties places like 34 00:01:50,080 --> 00:01:53,720 Speaker 1: One Nation. On a two party preferred basis, it's fifty 35 00:01:53,720 --> 00:01:56,120 Speaker 1: one to forty nine percent to the Coalition, and in 36 00:01:56,240 --> 00:01:59,600 Speaker 1: terms of the preferred prime minister, Anthony Alberzi is at 37 00:01:59,680 --> 00:02:03,720 Speaker 1: forty five percent and Peter Dunton forty one percent. Story 38 00:02:03,840 --> 00:02:07,120 Speaker 1: Number three. More details have emerged over the detention of 39 00:02:07,200 --> 00:02:11,760 Speaker 1: Resolute Mining CEO in Mali, Terry Hollahan and two executives 40 00:02:11,800 --> 00:02:15,120 Speaker 1: were arrested on Friday. They were detained by the country's 41 00:02:15,160 --> 00:02:18,640 Speaker 1: Anti corruption and Financial Crimes Unit. In a statement yesterday, 42 00:02:18,720 --> 00:02:21,160 Speaker 1: Resolute Mining said the executives were in Mali and I 43 00:02:21,280 --> 00:02:24,880 Speaker 1: quote to hold discussions with the mining and tax authorities 44 00:02:25,240 --> 00:02:29,239 Speaker 1: regarding general activities related to the company's business practices in Mali, 45 00:02:29,600 --> 00:02:32,280 Speaker 1: in addition to progressing open claims which have been made 46 00:02:32,320 --> 00:02:36,720 Speaker 1: against Resolute and which the company maintains are unsubstantiated and 47 00:02:36,880 --> 00:02:39,880 Speaker 1: quote the Australians reporting that the Maley government may want 48 00:02:39,880 --> 00:02:42,400 Speaker 1: between seventy five million dollars and two hundred and fifty 49 00:02:42,440 --> 00:02:48,560 Speaker 1: million dollars from Resolute Mining. Milian President Asmi Gouita, who 50 00:02:48,639 --> 00:02:52,280 Speaker 1: has just promoted himself to five star general status, has 51 00:02:52,280 --> 00:02:55,120 Speaker 1: introduced a new mining code that allows the state to 52 00:02:55,120 --> 00:02:58,840 Speaker 1: acquire up to thirty percent of projects and requires all 53 00:02:58,919 --> 00:03:02,800 Speaker 1: foreign companies to negotiate existing contracts. It sounds like mister 54 00:03:03,080 --> 00:03:05,760 Speaker 1: Hollahand has been caught up in that story. At number 55 00:03:05,760 --> 00:03:09,560 Speaker 1: four struggling Battery Minerals group, Linetown Resources is scaling back 56 00:03:09,600 --> 00:03:13,720 Speaker 1: production plans at its Kathleen Valley lithium mine in Western Australia. 57 00:03:14,360 --> 00:03:17,799 Speaker 1: Just three months after opening the operation. The company has 58 00:03:17,800 --> 00:03:20,200 Speaker 1: cut its production plans and in two years time will 59 00:03:20,240 --> 00:03:22,840 Speaker 1: be producing about two thirds the amount of lithium it 60 00:03:22,919 --> 00:03:27,280 Speaker 1: had forecast. On the back of tumbling lithium prices. CEO 61 00:03:27,560 --> 00:03:32,440 Speaker 1: Tony Attaviano said when market conditions change, companies need to adapt, 62 00:03:32,560 --> 00:03:34,480 Speaker 1: hence that's what they're doing. He said he wants to 63 00:03:34,520 --> 00:03:38,360 Speaker 1: focus on higher margin lithium. The Gena reinhart Back Lintown 64 00:03:38,400 --> 00:03:40,680 Speaker 1: has off take deals with Ford and Tesla and South 65 00:03:40,720 --> 00:03:44,200 Speaker 1: Kore's LG Energy. Its share price rose one percent on 66 00:03:44,240 --> 00:03:46,520 Speaker 1: the news, but it's off about fifty percent so far 67 00:03:46,640 --> 00:03:49,400 Speaker 1: this year and storing at number five. The Washington Post 68 00:03:49,600 --> 00:03:52,760 Speaker 1: is reporting that Donald Trump has spoken to Vladimir Putin 69 00:03:53,040 --> 00:03:55,880 Speaker 1: and urged the Russian president not to escalate the war 70 00:03:56,000 --> 00:03:59,160 Speaker 1: in Ukraine. It's the first core between the two men 71 00:03:59,320 --> 00:04:02,560 Speaker 1: since the UA poll last week. Washington Post is saying 72 00:04:02,600 --> 00:04:06,240 Speaker 1: that mister Trump reminded mister Putin of the US's sizeable 73 00:04:06,440 --> 00:04:10,720 Speaker 1: military presence in Europe. Trump discussed the goal of peace 74 00:04:10,920 --> 00:04:14,080 Speaker 1: on the European continent, and he expressed an interest in 75 00:04:14,120 --> 00:04:17,719 Speaker 1: follow up conversations. He has also spoken to Ukrainian President 76 00:04:17,800 --> 00:04:22,200 Speaker 1: Vladimir Zelenski. Apparently in that call Elon Musk joined in. 77 00:04:22,640 --> 00:04:25,400 Speaker 1: Not sure why as if. For the Afternoon Report for Monday, 78 00:04:25,440 --> 00:04:27,880 Speaker 1: the eleventh of November twenty twenty four, Adam Lange and 79 00:04:27,920 --> 00:04:30,240 Speaker 1: I will be back tomorrow morning with Tuesday edition of 80 00:04:30,320 --> 00:04:33,760 Speaker 1: Fear and Greed Business News. I'm Sean Elma. Enjoy your 81 00:04:33,760 --> 00:04:34,080 Speaker 1: evening