1 00:00:03,720 --> 00:00:06,240 Sean Aylmer: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,280 --> 00:00:08,800 Sean Aylmer: for Monday, the nineteenth of May twenty twenty five. I'm 3 00:00:08,840 --> 00:00:11,560 Sean Aylmer: Sean Elmer. Every afternoon, We've got the five stories that 4 00:00:11,600 --> 00:00:13,800 Sean Aylmer: happened today that you need to know about, Story number one. 5 00:00:13,960 --> 00:00:17,960 Sean Aylmer: After eight positive sessions, the local market dropped over half 6 00:00:18,000 --> 00:00:20,680 Sean Aylmer: percent today to finish at eight two hundred and ninety 7 00:00:20,680 --> 00:00:25,080 Sean Aylmer: five points. Sentiment was hit by moody Moody's ratings agency 8 00:00:25,120 --> 00:00:28,639 Sean Aylmer: downgrading the US government debt over the weekend. Also a 9 00:00:28,800 --> 00:00:33,000 Sean Aylmer: drop in China's industrial output during the past quarter. Energy 10 00:00:33,040 --> 00:00:35,600 Sean Aylmer: and mining stocks led the way lower on that news 11 00:00:35,640 --> 00:00:39,200 Sean Aylmer: out of China. Among the large caps, PHP, Fortescue Metals 12 00:00:39,200 --> 00:00:42,280 Sean Aylmer: Group and to a lesser extent, Rio Fell Woodside was 13 00:00:42,320 --> 00:00:45,239 Sean Aylmer: also lower, while the Quarry Group went ex dividend it 14 00:00:45,360 --> 00:00:49,360 Sean Aylmer: dropped four percent. On the other side, Commonwealth Bank, Wesfarmers, 15 00:00:49,440 --> 00:00:53,120 Sean Aylmer: Telstra and Transurban all did pretty well Story number two. 16 00:00:53,200 --> 00:00:55,840 Sean Aylmer: In corporate news today, Coal Produced and New Hope has 17 00:00:55,840 --> 00:00:58,680 Sean Aylmer: cut its full year sales guidance, but says the market 18 00:00:58,720 --> 00:01:01,680 Sean Aylmer: is showing early signs of a reound after a prolonged 19 00:01:01,800 --> 00:01:05,199 Sean Aylmer: slump in prices. Its share price dropped eight percent today, 20 00:01:05,440 --> 00:01:08,840 Sean Aylmer: Mineral Resources has appointed a packing industry executive with no 21 00:01:08,959 --> 00:01:12,840 Sean Aylmer: mining experience to be its new chairman. Malcolm Bundy, who 22 00:01:12,920 --> 00:01:15,320 Sean Aylmer: sits on the board of materials group Brickworks, will be 23 00:01:15,360 --> 00:01:19,000 Sean Aylmer: responsible for repairing the company's reputation following a string of 24 00:01:19,000 --> 00:01:23,000 Sean Aylmer: scandals surrounding billionaire founder Chris Ellison. Dom Ro's Pizza fell 25 00:01:23,040 --> 00:01:25,920 Sean Aylmer: three percent after announcing the chief of its Australia and 26 00:01:26,000 --> 00:01:29,800 Sean Aylmer: New Zealand business Kerry Hayman, will step down in August now. 27 00:01:29,840 --> 00:01:33,080 Sean Aylmer: Hayman is the sister of long term former CEO Don 28 00:01:33,160 --> 00:01:35,920 Sean Aylmer: May and main Farmer went to a trading hall this 29 00:01:36,080 --> 00:01:40,040 Sean Aylmer: morning ahead of a material announcement involving February six hundred 30 00:01:40,040 --> 00:01:42,440 Sean Aylmer: and seventy two million dollar takeover bid from a US 31 00:01:42,480 --> 00:01:46,640 Sean Aylmer: pharmaceutical giant cosst Straight. Number three Prime Minister Anthony Alberizi 32 00:01:46,720 --> 00:01:49,960 Sean Aylmer: has promised more tanks to Ukraine as part of his 33 00:01:50,080 --> 00:01:53,520 Sean Aylmer: meeting with that country's President Vladimir Zelenski. It happened on 34 00:01:53,560 --> 00:01:56,480 Sean Aylmer: the sidelines of the inauguration of Pope Leo the fourteenth 35 00:01:56,520 --> 00:01:59,880 Sean Aylmer: at the Vatican. Zelenski called for more sanctions on Russia 36 00:01:59,880 --> 00:02:03,320 Sean Aylmer: by countries such as Australia. Mister Albanesi also met with 37 00:02:03,400 --> 00:02:07,280 Sean Aylmer: European President Ursula von Delayan, who raised the prospect of 38 00:02:07,320 --> 00:02:12,000 Sean Aylmer: closer defense agreements between the EU and Australia. Albanesi also 39 00:02:12,120 --> 00:02:15,520 Sean Aylmer: met new Canadian Prime Minister Mark Carney straight Um before 40 00:02:15,600 --> 00:02:18,560 Sean Aylmer: len Les has sold a half stake in six UK 41 00:02:18,840 --> 00:02:21,960 Sean Aylmer: urban regeneration projects for three hundred million dollars and the 42 00:02:22,040 --> 00:02:25,200 Sean Aylmer: buyer is the Crown Estate. That's the property business of 43 00:02:25,240 --> 00:02:27,840 Sean Aylmer: the royal family. It's part of len Liss's efforts to 44 00:02:27,919 --> 00:02:32,000 Sean Aylmer: divest itself as of much of its overseas operations. This year, 45 00:02:32,120 --> 00:02:35,720 Sean Aylmer: Lendle's has sold off two point eight billion dollars of 46 00:02:35,720 --> 00:02:39,359 Sean Aylmer: offshore exposure. Thenleis can sell another twenty five percent of 47 00:02:39,400 --> 00:02:42,560 Sean Aylmer: this business in three years time, and it retains the 48 00:02:42,560 --> 00:02:45,440 Sean Aylmer: option to participate in any of the six projects, which 49 00:02:45,520 --> 00:02:48,480 Sean Aylmer: cover up to twenty six thousand residential units and nine 50 00:02:48,560 --> 00:02:52,440 Sean Aylmer: hundred thousand square meters of commercial space via its investment 51 00:02:52,480 --> 00:02:55,120 Sean Aylmer: management business. Its share price closed down a touch today 52 00:02:55,639 --> 00:02:59,440 Sean Aylmer: and sorry number five. Russian President Vladimir Putin believes he 53 00:02:59,520 --> 00:03:01,799 Sean Aylmer: has a strong hand ahead of a phone call tomorrow 54 00:03:01,880 --> 00:03:05,280 Sean Aylmer: morning with Donald Trump, as European leaders to work to 55 00:03:05,320 --> 00:03:08,680 Sean Aylmer: prevent the US president from rushing through a deal. Mister 56 00:03:08,680 --> 00:03:11,400 Sean Aylmer: Purtin is confident that his forces can break through Ukraine's 57 00:03:11,400 --> 00:03:13,360 Sean Aylmer: defenses by the end of the year to take full 58 00:03:13,400 --> 00:03:16,400 Sean Aylmer: control of four regions that he has claimed for Russia. 59 00:03:16,440 --> 00:03:19,160 Sean Aylmer: According to Bloomberg, if that's the case, it's unlikely that 60 00:03:19,160 --> 00:03:22,040 Sean Aylmer: the Russian president will offer any meaningful concessions to Trump 61 00:03:22,040 --> 00:03:25,080 Sean Aylmer: when the two leaders speak. The fear among European officials 62 00:03:25,120 --> 00:03:28,320 Sean Aylmer: is that Trump will try and force through a settlement. Regardless, 63 00:03:28,520 --> 00:03:31,200 Sean Aylmer: Trump has promised to brief Zelenski and some of his 64 00:03:31,360 --> 00:03:35,440 Sean Aylmer: NATO allies once he's finished speaking with his Russian counterpart. 65 00:03:35,840 --> 00:03:38,120 Sean Aylmer: That's it for the Afternoon Report for Monday, the nineteenth 66 00:03:38,160 --> 00:03:40,200 Sean Aylmer: of May twenty twenty five. Make sure you follow on 67 00:03:40,240 --> 00:03:43,120 Sean Aylmer: the podcast. We'll be back tomorrow morning with a Tuesday edition. 68 00:03:43,200 --> 00:03:45,320 Sean Aylmer: Off You're on Green Business New NEWSS. I'm Sean Elmer. 69 00:03:45,840 --> 00:03:46,480 Sean Aylmer: Show you reading