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

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Speaker 1: for Monday, the seventeenth of June twenty twenty four. I'm

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Speaker 1: Sean Elmer. Every afternoon, we've got the five stories that

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

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Speaker 1: one this in PASX two hundred closed down a zero

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Speaker 1: point three percent today to seven seven hundred points. Pretty

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Speaker 1: lackbuster day really, ahead of tomorrow's Reserve Bank interest rate decision.

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Speaker 1: No one expects any change in the official cash rate,

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Speaker 1: but everyone wants to know what the Reserve Bank Board

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Speaker 1: is thinking about when it comes to inflation when it

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Speaker 1: comes back to the market. While I'm sounding a bit

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Speaker 1: like a broken record here, but it was another good

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Speaker 1: day for the banks. National Australia Bank led the big four,

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Speaker 1: rising zero point seven percent to reach its highest level

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Speaker 1: since January twenty fifteen. Tosstra shareholders also got some relief,

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Speaker 1: with the telco rising one point seven percent, while Aristocrat

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Speaker 1: Leisure jumped one point eight percent. Otherwise, among the large caps,

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Speaker 1: it was mostly bad news, with BHP, Rio, Tinto, Goodman Group,

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Speaker 1: Woodside Energy and Santos all off more than one percent.

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Speaker 1: US for the big caps was wise Tech Global It

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Speaker 1: was down four percent. Other notables today includes seven Group

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Speaker 1: it fell four point two percent. The A two Milk

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Speaker 1: company dropped four point six percent, best in the day,

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Speaker 1: with Sigma Healthcare up four point three percent. Sorry number

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Speaker 1: two iron Ore fell more than two percent over the

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Speaker 1: last twenty four hours, and copper continues to fall from

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Speaker 1: recent higher levels after a mixed bag of economic data

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Speaker 1: out of China. The data highlighted ongoing week spots in China,

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Speaker 1: especially in the medals intensive property sector. While retail sales

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Speaker 1: were stronger in May, industrial output and fixed acid investment

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Speaker 1: both posted a slower growth, and home prices soften further.

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Speaker 1: Metals prices have fallen over the past month, in large

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Speaker 1: part because of concerns that prices had risen too far

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Speaker 1: relative to demand from China. Investors are hoping that a

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Speaker 1: major gathering of China's leadership next month will announce steps

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Speaker 1: to boost the world's second largest economy. In other commodities,

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Speaker 1: oil fell slightly today, as did gold and the Ausie dollars,

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Speaker 1: buying just under sixty six US Since story number three,

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Speaker 1: Surgeons and medical professionals are easily the highest paid occupations,

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Speaker 1: while engineers and the legal profession come in next. Surgeons

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Speaker 1: took home four hundred and eighty thousand dollars in the

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Speaker 1: twenty twenty one twenty two financial year, about six times

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Speaker 1: more than the average Australian worker, according to data released

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Speaker 1: today from the Australian Tax Office. And nethetists came in

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Speaker 1: next at nearly four hundred and fifty thousand dollars. Then

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Speaker 1: financial dealers, internal medicine specialists and psychiatrists. Mining engineers, IT professionals,

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Speaker 1: legal professionals and CEOs also made the top ten. At

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Speaker 1: the other end of the scale, drivers, personal cares, fast

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Speaker 1: food cooks and hospitality apprentices were among the lowest paid

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Speaker 1: people in the country. Sydney's Eastern suburbs had the highest

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Speaker 1: average tax bill income or parts of Perth Cottslow, Pepen mcgrove,

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Speaker 1: They Get and Honora will mention, as do two Rek

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Speaker 1: and Hawksburn in Melbourne story number four. The latest opinion

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Speaker 1: poll from nine newspapers have given the edge to oppositional

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Speaker 1: to Peter Dunton over Prime Minister Anthony Albernizi, with Labour's

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Speaker 1: primary vote falling to twenty eight percent for the first time.

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Speaker 1: Mister Dutton has gained a narrow lead as preferred Prime

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Speaker 1: Minister thirty six percent to thirty five percent. The Resolve

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Speaker 1: Strategic Survey shows at forty percent rank the Coalition better

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Speaker 1: to manage the economy, compared to twenty four percent for Labor.

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Speaker 1: On national security and defense, it's forty two percent in

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Speaker 1: favor of mister Dunn and the Coalition, twenty three percent

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Speaker 1: for mister Alberanesi and Labor. The government had only a

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Speaker 1: slight lead over the coalition when it came to managing

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Speaker 1: the environment, but it had a substantial lead around immigration

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Speaker 1: and refugees. Core support for the Coalition is thirty six percent.

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Speaker 1: For Labour, it's twenty eight percent, the last level since

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Speaker 1: attaining government, and the Greens lifted their support from twelve

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Speaker 1: to fourteen percent. And Story number five. Landlord's holiday homes

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Speaker 1: and businesses in New South Wales will be hit by

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Speaker 1: an increase in land taxes in coming years, which the

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Speaker 1: real estate industry says could cost owners thousands of dollars

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Speaker 1: a year, which in turn could end up on renters.

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Speaker 1: New South Wales becomes the third state Labor government to

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Speaker 1: target multiple property owners with higher taxes following a bigger

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Speaker 1: land tax increase in Victoria and a tax hike attempt

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Speaker 1: in Queensland that was eventually abandoned. The tax hike in

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Speaker 1: Victoria has been blamed as one reason why house prices

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Speaker 1: in that state haven't risen as much as in most

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Speaker 1: other states. A head of handing down the New South

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Speaker 1: Wales state budget tomorrow, treasure of Daniel Murky said the

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Speaker 1: tax free thresholds for land tax would be frozen at

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Speaker 1: the twenty twenty four level of one point oh seventy

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Speaker 1: five million dollars and no longer indexed annually. It means

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Speaker 1: more investment properties, holiday homes and commercial real estate will

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Speaker 1: be captured by New South Wales land tax, and existing

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Speaker 1: land tax payers will progressively pay more. Principal places of

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Speaker 1: residents and farms will generally continue to be exempted. That's

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Speaker 1: it for the Afternoon report for Monday, the seventeenth of

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Speaker 1: June twenty twenty four. Michael Thompson and I will be

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Speaker 1: back tomorrow morning with a Tuesday edition off beer and

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Speaker 1: Greek business news. I'm Sean Elmer. Enjoy your evening